Millennials rule. In the workplace. In the marketplace. In the business world. Anywhere. Sorry, but that’s just the way it is.

Of course, it’s easy for me to say – I’m a Gen X-er, pretty close to becoming a Gen Y-er. So I pretty much know that young people rule. And I know that especially in retailing, the same fact holds true: Millennials are driving retailing, and they want something that, when retailers are wise enough to respond – will keep them engaged (read: see more stuff, buy more stuff.)

Unfortunately, not many retailers know how to sell to millennials. With the advertising dollars they spend, trying to reach this segment of the market, it’s a surprising fact, indeed.

Millennials

But what are millennial customers looking for, exactly?

The answer: Personalized service

That’s right, growing up with technology at their fingertip, which makes things way easier for them to look for whatever they need and want, it’s a surprise that they still expect retailers to offer them what they exactly have in mind.

Want some proofs? Surveys show that:

  • Millennials – 87 percent of them – expect shop associates to be readily available to assist them with their shopping
  • 63 percent of millennial shoppers are lost in the aisles, wandering around – until they find an associate.
  • A whopping 71 percent of millennials prefer to schedule an in-store appointment so that they can shop at a time that’s most convenient for them.

Those are eye-opening facts that (should) make retailers rethink their marketing and sales strategies. So, instead of running mindless ads trying to increase footfalls at their physical stores – or web visitors at their online stores – they should take care the existing shoppers first, starting by offering services tailored to their preferences.

How about other industries?

Interestingly enough, retailing is not the only sector affected by millennials’ demand for personalized service; the same trend goes for the banking and finance sectors, as well as healthcare.

To get a glimpse of the striking demand for personalized customer service, check these out:

  • If given the option and incentives, 90 percent of millennials want to visit banks during off-peak time. The similar figure also holds true for credit unions.
  • Millennials are likely to change financial service advisors for two reasons: Better rates and more personalized service.
  • 64 percent of millennials are interested in having a video chat with their insurance agent, and 75 percent are agreeing to schedule an appointment with their insurance agent if given a chance to do that via online or mobile device.

I could go on and on with the survey findings, but you get the idea: Millennial consumers value personalized service. If you want more stats, check out this infographic published by timetrade.

Millennials want personalized service - infographic by timetrade

Your next step

Businesses in any sectors need to respond accordingly, such as:

  • Training sales associates to find out more about their prospects, starting with names and their preferences.
  • Brands need to use the available means to reach customers to where their attention go the most: Smartphones. Develop apps to make it easier for them to do business with you.
  • Assign an associate for a group of customers – and have him/her to learn as much as possible about their customers.
  • Create service plans that are customizable to clients.
  • …and so on.

Now over to you: What’s your plan in offering your millennial customers a more personalize service?