The Perfect Storm For Retailers: Millennials And Augmented Reality

By Jean-François Chianetta, CEO of Augment

Three years from now, projections show that Augmented Reality (AR) will generate retailers $120 billion in revenue. Therefore, it’s important to understand the technology and how it can be implemented.

At the same time, the spending power of a tech-savvy Millennial generation is increasing rapidly. In the U.S., the Millennial generation controls $600 billion in annual spend, and it is expected to multiply in the years ahead.

Millennials are undoubtedly an enormous commercial force, but capturing this audience requires an engaging marketing strategy and personalized experience.

Understand Millennials Behave Differently When Shopping

First of all, it’s important to know the difference between millennial buyers and others. There’s a fundamental behavioral and preferential difference between Millennial Buyers and Baby Boomers and Gen X. Their whole approach to understanding, processing, and responding to media and advertising is so different that it has left many brands wondering and figuring the best way to attract this massive consumer powerhouse.

Millennials typically like to do thorough research before buying any product  —  reviews, comparisons, and social validation play important roles in convincing them. They rely on their friends’ opinions and real experiences rather than blindly following an advertisement.