Retail Merchandiser - November/December 2016 - 13


MILLENNIAL CONSUMERS

w

Millennials: they truly are
the in-the-know generation.
They do their research to
educate themselves on their
potential purchases - and
by the time they actually get
to making that purchase,
they know exactly what
they want.
And, many times, they're making those
purchases online instead of heading to
a brick-and-mortar location to chat
it out with the sales associate. Even if
they're not purchasing online, they're
doing research online beforehand.
According to CMO.com, 72 percent
of millennials research their options
online before going to a store to make
a purchase.
So, when a salesperson encounters a
millennial who has done their digging
beforehand, what should they do? Here
are a few ideas:

Come Equipped with Data
The practice of researching items
online, and then purchasing them instore is known as "webrooming," and it
influences the entire sales process. Hypothetical examples of how a product
worked for someone else are no longer
enough. Today's informed customer
values proof.
On-the-spot proof can be tough,
but if you come equipped with data
that tells a story - including supporting numbers and facts - you can build
credibility and trust, even with the inthe-know customer.

Listen to Them
Although it might seem like it sometimes, having an educated customer
isn't a bad thing. Communicating with

the customer to learn more about what
they know can actually help you make a
sale. Listen and tie their education back
to something you know they want and
that you have available. You might even
lead them to something they didn't
realize they needed!

No Nonsense
We've all done it (or at least thought
about doing it). You find yourself
backed into a corner, your typical sales
pitch isn't working, and you're crashing
and burning. So you try to change the
subject - or worse - make something
up. Customers who have done their
research know their stuff and can spot
something phoney a mile away. A
frantic sales pitch will cause more harm
than good. If the facts aren't with you,
try playing to their ego. Acknowledge
the effort your customer has made and
find out what you can do to ensure
his or her purchasing decision is as
informed as possible - even if it means
pulling in outside resources.
Whether you're selling tablets or furniture warranties, being aware of how
to interact with and ultimately sell to
millennials who know how to do their
research - no matter how challenging they might be - will continue to
become an increasingly important part
of how you do business. O
Kevin Cundiff is Vice President of Retail
for Fortegra Financial Corp., a Tiptree
Financial Inc. company (NASDAQ:
TIPT). Fortegra and its subsidiaries
comprise a single-source insurance services
provider that offers a range of consumer
protection options, including warranty
solutions, credit insurance and specialty
underwriting programs. Delivering
multifaceted coverage with an unmatched
service experience for both partners and
their customers, Fortegra solves immediate,
everyday needs, empowering consumers to
worry less and experience more.

November/December 2016

_MILLENIALS.indd 13

RETAIL-MERCHANDISER.COM

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Table of Contents for the Digital Edition of Retail Merchandiser - November/December 2016

Contents
Retail Merchandiser - November/December 2016 - Cover1
Retail Merchandiser - November/December 2016 - Cover2
Retail Merchandiser - November/December 2016 - 1
Retail Merchandiser - November/December 2016 - 2
Retail Merchandiser - November/December 2016 - Contents
Retail Merchandiser - November/December 2016 - 4
Retail Merchandiser - November/December 2016 - 5
Retail Merchandiser - November/December 2016 - 6
Retail Merchandiser - November/December 2016 - 7
Retail Merchandiser - November/December 2016 - 8
Retail Merchandiser - November/December 2016 - 9
Retail Merchandiser - November/December 2016 - 10
Retail Merchandiser - November/December 2016 - 11
Retail Merchandiser - November/December 2016 - 12
Retail Merchandiser - November/December 2016 - 13
Retail Merchandiser - November/December 2016 - 14
Retail Merchandiser - November/December 2016 - 15
Retail Merchandiser - November/December 2016 - 16
Retail Merchandiser - November/December 2016 - 17
Retail Merchandiser - November/December 2016 - 18
Retail Merchandiser - November/December 2016 - 19
Retail Merchandiser - November/December 2016 - 20
Retail Merchandiser - November/December 2016 - 21
Retail Merchandiser - November/December 2016 - 22
Retail Merchandiser - November/December 2016 - 23
Retail Merchandiser - November/December 2016 - 24
Retail Merchandiser - November/December 2016 - 25
Retail Merchandiser - November/December 2016 - 26
Retail Merchandiser - November/December 2016 - 27
Retail Merchandiser - November/December 2016 - 28
Retail Merchandiser - November/December 2016 - 29
Retail Merchandiser - November/December 2016 - 30
Retail Merchandiser - November/December 2016 - 31
Retail Merchandiser - November/December 2016 - 32
Retail Merchandiser - November/December 2016 - 33
Retail Merchandiser - November/December 2016 - 34
Retail Merchandiser - November/December 2016 - 35
Retail Merchandiser - November/December 2016 - 36
Retail Merchandiser - November/December 2016 - 37
Retail Merchandiser - November/December 2016 - 38
Retail Merchandiser - November/December 2016 - 39
Retail Merchandiser - November/December 2016 - 40
Retail Merchandiser - November/December 2016 - 41
Retail Merchandiser - November/December 2016 - 42
Retail Merchandiser - November/December 2016 - 43
Retail Merchandiser - November/December 2016 - 44
Retail Merchandiser - November/December 2016 - 45
Retail Merchandiser - November/December 2016 - 46
Retail Merchandiser - November/December 2016 - 47
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Retail Merchandiser - November/December 2016 - 49
Retail Merchandiser - November/December 2016 - 50
Retail Merchandiser - November/December 2016 - 51
Retail Merchandiser - November/December 2016 - 52
Retail Merchandiser - November/December 2016 - 53
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Retail Merchandiser - November/December 2016 - 57
Retail Merchandiser - November/December 2016 - 58
Retail Merchandiser - November/December 2016 - 59
Retail Merchandiser - November/December 2016 - 60
Retail Merchandiser - November/December 2016 - 61
Retail Merchandiser - November/December 2016 - 62
Retail Merchandiser - November/December 2016 - 63
Retail Merchandiser - November/December 2016 - 64
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Retail Merchandiser - November/December 2016 - 78
Retail Merchandiser - November/December 2016 - 79
Retail Merchandiser - November/December 2016 - 80
Retail Merchandiser - November/December 2016 - 81
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Retail Merchandiser - November/December 2016 - 83
Retail Merchandiser - November/December 2016 - 84
Retail Merchandiser - November/December 2016 - 85
Retail Merchandiser - November/December 2016 - 86
Retail Merchandiser - November/December 2016 - 87
Retail Merchandiser - November/December 2016 - 88
Retail Merchandiser - November/December 2016 - Cover3
Retail Merchandiser - November/December 2016 - Cover4
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