The local, community cornerstone of Small Business has grown on and with Millennials. After feeling like they were burned by big business during the recession, the Shop Local movement continues to resonate well with the young consumer. An Edelman Digital study reported that some 40% of Millennials prefer to buy local even if it costs a little bit more than mass-market alternatives.
With the AmEx event - Small Business Saturday - coming up here next month, some ideas of how you can drive more Millennial traffic into your store November 28th and beyond…
- Make it new and exciting with an in-store event (young adults and youth shop in groups)
- Bring in a ‘special guest’ for entertainment or education
- Tap into your live and local media (like radio:) to accentuate your reach
- Team up with other small businesses around you for a block party or store to store scavenger hunt
- Utilize your current customer database to help spread the word
- Tie in a great cause with a portion of proceeds supporting a community non-profit
But do Millennials even buy gifts? I thought they were broke, you say….
Why, yes, they do buy gifts, decorations, candy and other items for the Holidays. According to an NRF report, adults 18-24 spend on average about $520 for the holidays and 25-34 year olds spend on average $760.
Yes – you can tap into the Millennial consumer segment to see growth in the holidays and beyond.