A new study by global communication platform Infobip has shed light on how different generations prefer to interact with businesses and brands, particularly in the lead-up to Black Friday. With over 86% of all generations expecting personalized and relevant communications, retailers must tailor their approach to cater to the unique needs of each consumer group.
Black Friday, the unofficial kickoff to the holiday shopping season, presents a significant opportunity for retailers to boost sales and strengthen brand loyalty. A 5% increase in customer retention can lead to a profit boost of over 25%, according to Bain & Company. However, crafting an effective omnichannel strategy to engage with consumers across four generations can be a complex endeavor. Miscommunication can result in lost sales and diminished customer loyalty.
Infobip’s Generational Messaging Trends Report reveals the distinct communication preferences of each generation:
- Baby Boomers: While less receptive to repetitive content (40% desire more varied communications compared to 8% of Gen Z), Baby Boomers favor chat apps more than Gen X (68% vs. 57%).
- Generation X: Gen Xers are more likely to appreciate product and service updates (73% vs. 55% of Gen Z).
- Millennials: Younger generations are more open to innovative communication channels, with 60% of Millennials comfortable making purchases through chatbots.
- Generation Z: Gen Zers expect brands to understand them as individuals (83%) and desire a two-way dialogue (65%).
Commenting on the research, Ivan Ostojić, Chief Business Officer at Infobip, emphasized the importance of conversational engagement: “Our research shows that most shoppers, regardless of age, want brands to connect with them in a friendly, conversational manner. This approach can significantly enhance loyalty. However, brands must execute customer communications flawlessly to drive loyalty and sales growth. To assist retailers and e-commerce firms in maximizing the potential of the shopping season, Infobip has developed a new report and a playbook that outlines the preferences of each generation.”
