Retailers and marketers often give millennials a bad rap, accusing them of being fickle shoppers, disloyal to brands and all-too-often glued to their smartphones to the exclusion of all else.
But in reality, millennials are one of the most lucrative target demographic markets in the world – especially in China, where they comprise 31 per cent of the population, or a staggering 415 million people.
Inside Retail Hong Kong is hosting a half-day Millennial Masterclass on May 18, an interactive seminar featuring experts on this crucial customer demographic group. Being run in partnership with Tofugear and KPMG, it is being hosted at KPMG’s events venue at Hysan Place.
Interactive forum
One of the most engaging features of the event will be an interactive forum at which about 15 millennials on stage will answer questions from a moderator and from the floor. A reprise of one of the most popular sessions at January’s Retail’s Cutting Edge event, it is totally unscripted: the group of consumers will openly (and from past experience, brutally) share their views on what they love and hate about brands, what they expect from e-commerce sites (and why they abandon carts online), how they make buying decisions and how their lifestyle impacts their shopping behaviour.
Kicking off the event will be an updated overview of the millennial demographic, including examples of how retailers are reaching out to them.
Another highlight will be a presentation from millennial coach Fyiona Yong, who describes herself as “a generational bridge builder”.
“For the first time in modern history, our workforce consists of four different generations working side by side – and the differences among them are one of the greatest challenges managers have to face today,” says Yong. “But the differences that set us apart also can bring us together.”
Yong helps business leaders to attract, manage and retain millennial talent. Her insights as a millennial executive can help retailers generationally transform their organisations, such as millennial staff helping boost sales on the shop floor.
Axis BDM John Chan will share case studies showing how retailers use in-store music to engage with millennial shoppers, increasing their dwell time and even boosting their spending.
The event will close with Tofugear’s Philip Wiggenraad opening the door to what comes next: Retail Z. This looks at how generational shifts are driving technological change and adaptation in retail.
Key questions
There are key questions all retailers need to ask themselves:
- Do you really understand the millennial market?
- How do millennials think?
- What attracts them to brands?
- How do they shop (offline and online)?
- Are they ready to embrace brands?
- How can you instil them with a sense of customer loyalty?
Our line-up of speakers will help answer all those questions.
Will you join me for four hours of incisive, entertaining and interactive study of what makes millennials tick?
Tickets are available online for HK$499. The event starts at 1.45pm at KPMG’s Hysan Place theatrette in Causeway Bay.
