'Millennials no different from Gen X-ers,' says Apppli boss at FT Innovate
Customers of the future will be motivated to buy in exactly the same way as customers of the past and present according to new research revealed at today’s FT Innovate Conference.
The research has been conducted by leading mobile and tech development firm Apppli, and the insights from the project were presented by managing director Joo Teoh, who outlined how customers’ expectations are shifting with the emergence of mobile and what businesses can do to stay relevant.
Teoh said: “Mainstream press seem to suggest that Millennials are fundamentally different from previous generations. We conducted our own research to compare how Gen X-ers differ from Millennials in how they value things like money, family, jobs, happiness, innovation and privacy.
“Contrary to expectation, our research revealed that the customer of the future is likely to have very similar values to the customer of the past and of the present,” said Teoh.
However, while consumer values and buyer motivations will remain the same the customer journey will change dramatically.
Teoh said: “What’s changing is expectation regarding delivery – ubiquitous access, complete information and two way interactions are causing a seismic shift in consumers’ approach to brand engagement.”
With millennials likely to make up some 75% of the workforce and the lion’s share of consumption by 2025, Apppli’s research suggests that businesses and brands that embrace mobility-as-a-mindset will increase reach, deepen engagement and build greater loyalty than competitors who remain at the fringes.
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