insight : kathy wall
Marketing to Millennials
They’re smart—and they have money. Why millennials are your best next clients BY KATHY WALL
T
he world loves to make fun of millennials. They’re mercilessly lampooned as avocado toast-eating selfie-takers who fritter away their paychecks on fancy coffee.
But, in truth, the much-maligned millennial is poised to become the biggest spender in history. It’s a matter of numbers: There are 83 billion millennials—people born between 1982 and 1996—in the United States. They’re the largest generation ever, and they have the most buying power with at least $600 billion at their disposal. Despite their economic clout, millennials earn 20 percent less than their parents did at this point in their lives and often have substantial debt from student loans. Thus, despite all the jokes about $7 lattes, millennials have learned to be careful with their money. Thankfully, their desire to spend smart dovetails perfectly with the selling points of custom window fashions.
22 |
MARCH + APRIL 2020 | wf-vision.com
I know one young man who graduated with honors (and no debt) from a tough engineering school and was promptly offered a six-figure job. He saw the value in investing his money instead of renting and bought a new home one year later. He had the cash to invest in furnishings and yet lived with an Ikea entertainment system, a 60-inch flat screen TV, two odd chairs and sheets on the windows in his living room. Why? He couldn’t find anyone to help him. His inquiries were not taken seriously and he didn’t want “grandma curtains,” so he spent money on even more electronics. You know why it’s smart to invest in quality window coverings. It’s best to buy right once rather than spend time and time again on inferior products that don’t last. And you can make the process of getting window treatments easy. Now, you just need to take that message to millennials. First, remember that these buyers are digital natives. Because they grew up in a digital landscape, it’s no surprise that they place a lot of weight in social network recommendations. In fact, a recent
