April 24, 2019
Millennials’ spending power will overtake that of their predecessors, Generation X, by 2020, according to a World Data Lab report, so it is very important for marketers to understand millennials’ behaviour and preferences. Email is not an obsolete tool. The large majority (72%) of people aged between 18 and 35 (millennials and Generation Y) use their smartphone as their primary email device according to DMA’s email tracker report..., but people under the age of 35 only read 40% of their emails. According to an Epsilon report millennials are three to four times more likely than those aged 35 and above to like media content such as images and video in their emails and twice as likely to want to be able to make a purchase without leaving an email. Generation Y also tends to give more positive feedback about interactive features such as competitions and quizzes. Over 50% of 18 24 year old and over 40% of 25 34 year old check their emails in bed in the morning, according to Adobe’s research. According to Bluecore, abandoned basket emails to British people have a much higher conversion rate and relate to a higher average purchase value than average emails For instance, at a rate 1 in 40 emails with an average value of over $6. According to research by ClickZ the most profitable segment to target with abandoned basket emails is the 18 29 year old age group. Millennials are the age group most likely to purchase items on their mobile (15% do so according to DMA). Optimisation of emails for smartphones and personalisation of content are the keys to engaging millennials.