The Road to Rewards: What Drives Millennial Loyalty?
Reliant on technology and recommendations, Millennials will switch retailers and brands to “save money any way they can”
Millennial consumers, aged 18-34, are continuously changing the way U.S. retailers think, sell and measure success. Retail competition is tough. Pricing is continually competitive. A whole new and dynamic customer experience is required to attract online, mobile and brick-and-mortar shopping dollars from the growing Millennial segment. Loyalty programs, of course, are a critical component of this experience, and are being re-engineered for Millennial consumers. Fiercely loyal to just a few brands, but in general not devoted to many, Millennials want to know: “What’s in it for me?”