Exclusive and ‘ground-breaking’ new research claims that 60% of ‘Millennials’ will share data for more customised services and offers, while 88% also say they will offer data about themselves – provided they receive incentives to purchase.

 

These and other findings were revealed recently by the respected Swiss-based m1nd-set research company, as part of its ongoing tracking of trends and behaviour by this young dynamic traveller segment (i.e.Millennials).

 

Intriguingly, m1nd-set points out this ‘willingness to share’ is completely opposite to the responses from older generations where apparently only one in 10 travellers among baby boomers and Generation X generations say they are prepared to do the same.

 

MILLENNIALS HAVE DIFFERENT REFERENCE POINTS…

Perhaps this is not quite so surprising for the reasons m1nd-set gives: “Millennials are also significantly more active on social media and depend much more on social media as a source of information for travel and shopping tips,” says the company.

 

It adds: “Seventy nine per cent of Millennials claim to choose their travel destination based on posts from their peers on social media. Seven out of ten say their friends’ posts influenced their shopping decisions. The same percentage among Millennials say they are interested in receiving coupons for shopping discounts at airport stores.”

 

 

 

MILLENNIALS ARE LESS BRAND LOYAL AND ACCESSIBLE…

m1nd-set adds that these ‘newly-discovered characteristics’ are important, since they will dictate and influence how marketers will need to address this group in future. The research also reveals that Millennials are looking for ‘experiences’ on their travels – and even shopping expeditions.

 

Interestingly, they are also ‘far more likely to switch loyalty to brands, information sources and online services’ if they cannot find what they are looking for quickly and easily – and on their mobile.

 

The research company says that its unique ongoing research with travellers directly at airports around the world gives it the ability to offer these insights across all categories.

 

For example, in terms of category specific behaviour, m1nd-set’s research apparently shows that beauty category visitors among Millennials are significantly less likely to have a specific purchase in mind when entering a store than their Generation X or Baby-Boomer contemporaries.

 

Research reveals that they much prefer to browse and find something to indulge in, or spontaneously look for a gift for a friend or their partner. m1nd-set’s findings confirm that they are also more likely to look for and purchase travel retail exclusives, or gift sets in this category.

 

 

SIGNIFICANTLY DIFFERENT BEHAVIOUR FROM ADULTS

There are also distinct attitude and behavioural differences as compared with other generations when it comes to alcohol. m1nd-set says Millennials are typically less price-sensitive than older shoppers and are increasingly attracted by new brands and out-of the ordinary offers, such as travel retail exclusives.

 

This compares with older generations who prefer to purchase their usual alcohol brand, while Millennials are said to be considerably more likely to try out a new brand or product that they have never purchased before.

 

Commenting on these findings, Peter Mohn, CEO & Owner at m1nd-set said: “The behaviour of this consumer segment is significantly different to the older generations. The industry really needs to acknowledge that they are here to stay and will grow as a customer segment in travel retail. It is vital to understand that the marketing strategies to reach these young consumers are totally different to the strategies for older travelling consumers.

 

 

MOBILE UNFRIENDLY WEBSITES ARE BIG TURN OFFS…

“Millennials have grown up with smartphones from their teen years. They expect to get access to information on brands, shops and destinations on websites that are adapted to mobile phones. They don’t expect to have to ‘finger stretch’ their screen to decipher minute text because the site is not mobile friendly. They also expect feedback from customer service much faster than their elders.”

 

David Perroud, co-Owner and CEO at m1nd-set agreed: “The Millennials are increasingly important to the industry as they are far more likely to travel than older generations, as they place a far greater priority on travel than older age groups.

 

“Their attitude towards the importance of designer brands, social causes or cultural experiences for example, differs enormously from Generation X or baby boomers. We expect to be researching this consumer segment in much greater detail in the near future as the industry recognises their importance.”

 

A full report with detailed analysis of the Millennial traveller segment is available from m1nd-set. For more information email [email protected]