If your business markets products and/or services to the Gen-Y or the Millennial Generation (born in the ~1980's to early 2000's depending on who you reference), then this recent survey from Retail Pro and Merchant Warehouse will be of interest to you. The idea behind the survey was to gain a better understanding of the shopping habits of this generation. A better understanding can lead to better marketing as well as gleaning better data from your point of sale system. Here are some of the highlights of the survey along with how you would use a point of sale system to cater to the shopping needs of Millennials):
- 60 percent of Millennials do pre-purchase online research (does your point of sale system have an integrated online shopping website with detailed product information, images and reviews?)
- When it comes to actually driving to your store, 50% of the survey respondents said that they would want at least a 20% discount to make an in-store purchase (does your point of sale system offer a loyalty program or an automatic discount function?)
- 68% of those surveyed primarily purchase products using a debit or credit card and not cash (does your point of sale system include a pin pad and the ability to shop for the best merchant services rates?)
The survey also covers some additional product specific purchasing habits but I just wanted to include only some of the survey results specific to specialty retail stores and point of sale systems for specialty retail stores.
Are you in the US and in need of no cost retail point of sale advice? I'm happy to help and can be reached on my cell at 208-340-5632 (mountain time) or via email at email@example.com.
Post a Comment