Conventional shops with physical locations might actually be more viable in the long term than a casual glance could lead one to believe. If a report done by the Urban Land Institute is to be trusted, the young people of the so-called Millennial generation, also known as Generation Y, still find value in visiting shops rather than simply perusing online. Those merchants looking to engage this particular group of people can take this as a sign of what strategies to take in order to keep younger customers returning.
This study shows that though this age range (encompassing those currently 18-35 years old) spends time shopping on the internet, a significant amount also enjoy visiting malls, restaurants and other establishments which may make use of point of sale credit card processing.
Enclosed shopping centers and neighborhood markets proved favorable, and the report provides numerous statistics that suggest younger buyers will attend a brick-and-mortar location when searching for clothes, for example. In fact, when it came to clothes shopping, the same amount of responders (20 percent) seemed to favor online stores as they did going to their preferred locations in person.
The study's authors emphasized that this demographic still maintains an interest in making live purchases, despite their tendency to be easily distracted.
"Nearly two-thirds of Gen-Yers go to a full-line department store at least monthly and one-third visit two or more times," they said. "Among small-town and rural residents, almost 60 percent
get to a Macy's, Sears, JCPenney, Kohl's, Dillard's, or the like each month. Department stores are far from dead!"
Whatever tactics one uses to make their particular place of business more attractive, point of sale credit card services can be a key way of reaching out to customers of any age.