Hardware Retailing The Industry's Source for Insights and Information
According to an article by The Shelby Report, a recent study of millennials may be able to help discover how and why brand loyalty is formed. The 2015 Top 50 Millennial Brand Ranking Report by Mossylvania, an independent digital advertising agency, not only ranks the Top 50 brands Millennials love, but also the reasons why they are connecting with them.
While the top five “most beloved” brands are Nike, Apple, Samsung, Sony and Walmart, the study helps identify “key media traits that transform a high-awareness brand into a beloved brand.”
The article goes on to detail the important brand characteristics that matter most to Millennials, from most important to least important: High-Quality Products (75 percent), Would Recommend this Brand (61 percent), Fits Their Personality (53 percent), Social Responsibility (40 percent), Shares Similar Interests (39 percent) and Says Important Things (31 percent).
According to the article, Millennial consumers can be considered their own brand managers, as they are always looking for products or services that help their image. “Brands that market with a strong, positive message and display a sense of social responsibility show they care about what Millennials care about,” it explains.
To use this knowledge in your own store, consider some of the characteristics millennials appreciate the most. For example, if your store is highly involved in the community, donating to different causes and giving back, make sure to share that on your social media sites and spread the word about ways you give back. Promote shopping local to encourage them to shop your store over a big box competitor.
To read more about the study, click here.
