M1nd-set’s latest special analysis focuses on digital marketing opportunities with Millennial consumers, using its Business 1ntelligence Service (B1S) which incorporates the company’s global shopper insights from 50,000 face-face interviews with travellers at airport departure gates – plus DDS, IATA’s traffic analysis and forecasting tool.

 

In addition, the Swiss research company says it has been ‘closely monitoring two important trends’ in recent months, including Millennials as a shopper segment, plus the development of the digital marketing landscape and it now believes it has reached ‘a much-awaited tipping point’.

 

REACHING MILLENNIAL SHOPPERS ‘IN REAL TIME’

Its focus on the behaviour of global Millennial consumers has apparently produced ‘key findings in the shopper segment’s behaviour’, plus the key shopping drivers and influencers for Millennials and their responsiveness to marketing campaigns.

 

 

The company explained: “Further analysis has been undertaken by m1nd-set’s consultants of the retail technology landscape today. M1nd-set reports that Millennials’ behaviour both in retail and in response to digital marketing, combined with the evolution of omni-channel retail technology, have together created significant opportunities for the industry to reach out to Millennial shoppers – while they are travelling in real-time.

 

BARRIERS TO REACHING PAX WHILE TRAVELLING – ‘BROKEN’

“The ‘digital marketing to Millennials’ insights reveal that the barriers to reaching passengers while travelling have been broken and airlines no longer have sole access to the information on who is travelling where and when or what time they will be in a specific airport,” said the company.

 

“Millennials are seeking more personalisation in the marketing from duty free stakeholders, according to the m1nd-set research; 8 out 10 Millennials say they are used to receiving personalised communications from domestic retailers, but only 10% claim the same for the duty free channel.”

 

According to the Swiss research company, ‘more than 70%’ of Millennials asked, said they would be prepared to provide personal data in exchange for ‘relevant, personalised offers and promotions from duty free stakeholders’.

 

M1nd-set says that the report also demonstrates that such personalised, relevant communications can potentially lead to over 40% revenue growth.

 

Omni-channel retail and marketing technology that is widely available today require constant testing to determine the most effective marketing messages, it says, but analytics are an under used industry resource, according to m1nd-set’s Millennial research.

 

Clara Perez, Travel Research Director at m1nd-set  comments: “Analytics tools today have simplified the process of calculating important values, such as the ROI of specific campaigns, or the lifetime value of a customer.

 

CALCULATING IMPORTANT VALUES …’SIMPLIFIED’

“Online analytics tools can also be complemented by offline qualitative shopper panels, which enable brands and retailers to obtain more in-depth feedback and observations on shopper behaviour and reaction to personalised communication campaigns.”

 

Interestingly – and potentially importantly – m1nd-set adds that ‘the advent of omni-channel retail solutions’ effectively suggests that brandowners and retailers should be able to combine their retail experiences between both offline and online – in addition to between domestic and duty free retail.

 

According to m1nd-set owner and CEO Peter Mohn, this is exactly what Millennials are looking for: “Sixty-seven per cent of the Millennials in our shopper research say they expect and want the industry to adopt a more coherent and comprehensive approach to marketing, linking the consumer’s offline and online experiences, so they are recognised as one and the same individual.”

 

ACCEPTABLE ‘FIRST CONTACT’

Mohn adds: “There are solutions available which allow the various stakeholders to provide a constant, relevant stream of communication with passengers, from the moment they leave home for the airport, all the way to the departure gate.

 

“Integrated POS and CRM systems, i-beacon technology, way-finding solutions and omni-channel commerce solution providers have made the consumer reachable whenever they are in the vicinity of the airport, or duty free shop.

 

“Today’s travelling Millennial shoppers are not only early adopters of this type of technology – they want brands and retailers to connect and communicate with them through these platforms.”

 

For more information on this and other m1nd-set Business 1ntelligence Service reports, contact m1nd-set by telephone at: 41 21 925 5025, or at: [email protected]