Wednesday, March 12, 2014 | Edited by Daniel Moores

Millennials Re-Shaping the Face of Retail

Retailers who are attempting to woo Millennials are quickly discovering that this age group represents a different brand of consumer.

They are the most racially diverse generation, with more liberal views on social issues and fewer ties to organized religion and political parties. And despite spending more than an hour a day on retail websites, tech-savvy Millennials also require more brand interaction opportunities than advertising, said Jason Baker, a principal at Houston-based consulting firm Baker Katz.

"They're more subtle in the way they want to be marketed to," he said. "They're very engaged, they're very aware, but they don't want some ad that's up in their face."

(Source: CNBC, by Kelli B. Grant, 03/07/14)
Link to full article: cnbc.com

How You Can Make Money:
Reports of Millennials' disinterest in radio have proven to be pretty much overblown. According to Nielsen's State of the Media: Audio Today 2014 report, 65.2 million consumers ages 18-34 listen to traditional broadcast radio each week (52% of men and 48% of women), spending an average of 11.5 hours with the medium each week. A total of 90.3% of all Millennials are reached by radio on a weekly basis, with the afternoon drive daypart (3-7 PM) being the best time to appeal to them. A 2013 study by Sequent Partners and the Media Behavior Institute concluded that radio had a 50% reach among Millennials in the half-hour before shopping, which was the strongest performance of any medium.

Hispanics Like Shopping at 'Interesting' Stores

Among the findings of a recent shopper study was the fact that Hispanic consumers strongly prefer community-driven environments and emotionally-satisfying in-store experiences.

Hispanics pay particular attention to online product reviews, but they also enjoy the shopping experience that comes from visiting stores. This article examines some key strategies retailers can employ in attracting this audience.

(Source: WD Partners, by Lee Peterson, 03/11/14)
Link to full article

How You Can Make Money:
As this article states, "Environments that encourage engagement will be a place customers want to visit again and again," and it could serve as an important aspect of any ad campaign. The University of Georgia's Selig Center for Economic Growth estimates the buying power of the U.S. Hispanic market at $1.2 trillion. The RAB's "Why Radio" pegs the weekly reach of radio among all 18+ Hispanics at 94.4%, with time-spent-listening calculated at 14 hours and 43 minutes. Nielsen's State of the Media: Audio Today 2014 shows the overall number of weekly Hispanic radio listeners to be 32.4 million (53% men and 47% women), with the 10 AM-3 PM time frame ranking as the top daypart.

Study Looks At 'No Nonsense' Attitudes Among Women

A new survey has revealed some interesting insight into the attitudes of women regarding their personal style and lifestyle choices, as they describe their idea of a "no-nonsense" type of persona.

The survey, conducted by the Harris Poll and commissioned by Kayser-Roth Corp.'s No Nonsense legwear brand, included the observations of more than 700 U.S. women ages 25-49. It was done in conjunction with March's celebration of Women's History Month.

The majority of women taking part in the survey would describe a "no-nonsense" woman as confident (84%), smart (80%), authentic (68%) and successful (66%).

(Source: Marketing Daily (MediaPost), by Tanya Irwin, 03/05/14)
Link to full article: mediapost.com

How You Can Make Money:
According to "Why Radio," produced by the RAB, radio's weekly reach among all women 18+ is 91.7%, and climbs to 93.0% for women 18-34, 93.9% among women 18-49, and 94.5% for women in the 25-54 age bracket. By daypart, radio's weekly reach among all women 18+ is strongest from 10 AM-3 PM (82.2%), followed by the 3-7 PM time slot (79.9%) and 6-10 AM time period (72.8%). Research from "Why Radio" also shows that radio reaches 91% of consumers who purchased any women's business clothing in the past year, and 87% of buyers of casual women's apparel.

Daily Sales Tip: Evaluate What You Hear

On the phone, clients communicate in two ways: words and tone.

What is significant here is that research shows that as much as 86 percent of a message delivered over the phone is through the tone of a voice. This is particularly important when it comes to buying signals and objections.

For example, suppose you ask a client if improved delivery is important to them and they give you a neutral-toned reply of "yes," then chances are it's not a big issue. If they give you a more "resounding" reply of "yes," you've struck a key point. This is where you want to dig deeper and explore the implications. The real point here is that you need to be alert to the subtleties of communication.

The same holds true with objections. Suppose you respond to an objection and then ask the client, "....does that clear that point up?" If the client responds rather lamely "yes," you can bet your bottom dollar (and the sale) that you have NOT cleared things up. You need to act on the tone and clarify.

Source: Jim Domanski, CEO of Teleconcepts Consulting Inc.


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