Craft Focus - Oct/Nov (Issue 63)

business advice craft focus 81 GET SOCIAL Retailers have been aware that being active on social media is by far one of the most important ways to connect and engage with this tech-savvy group. The retailers that are really making waves with millennials are the ones offering smart and easy e-commerce attached to some pretty clever CRM. Google shopping, eBay, Amazon, Facebook advertising, Instagram influencers and even Twitter geo-targeting – the way in which millennial shop products and are urged to hit ‘buy’ is heavily influenced by their peers, celebrities, bloggers and good marketing. Reviews have their place too, as much as nearly three quarters of all consumers are likely to make a purchase based on a positive review, according to Hubspot. BE REAL Having a global and holistic view of stock and inventory is key to keeping millennials with you. Knowing where stock is important for your business, and is a critical function of a good omni-channel retailer. If you want a pair of size six loafers in bright blue, surely checking if the retailer has them in your local store before you’ve even dialled a customer services, you’re winning, right? Millennials don’t want to know if you’ll be able to get it in next week, they want to know there and then. They want their information now. Cloud-based systems prevent any confusion and help retailers operate, meet real-time demands and feed a customer- driven distributed order management system based on behaviour rather than historical allocation. DO IT ALL Using one system where you can pay, another which deals with gift cards, a separated e-commerce site and a clunky returns system is a sure fire way to frustrate this group. Millennials want ultimate flexibility, they want to know why they can’t get the same offer online as they do in store and most of all, they want prices to be low and consistent. As a result of the personality traits of this millennial group, it’s important for retailers to expand their inventory management systems, through the cloud, and move away from simply reacting to changing product demand with allocation and replenishment, and really crack product demand. Download a free guide at retailstore.co.uk/download-retail-reinvented- market-insights-2017 s RetailStore is powered by Cybertill +44 (0) 0800 030 4459 retailstore.co.uk Download a free guide: retailstore. co.uk/download-retail-reinvented- market-insights-2017