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The number of consumers of luxury goods in the world has more than tripled in the last 20 years

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The number of consumers of luxury goods in the world has more than tripled in the last 20 years

One of the great goals of any brand is to get the approval of its customers; be worthy of the trust and loyalty of their clients to the point that they act in their favor.This will largely depend on the ability of the brand to generate engagement and retain its customers; bearing in mind that their age will decisively influence the degree of commitment to the brand and their behavior towards it.According to the study published by the Boston Consulting Group (BCG), the different  lebanon phone company generations show different behavior towards the brand. Specifically, the report indicates that Millennials are more likely to identify with and engage with brands; to the point of becoming staunch defenders. It is an attitude more typical of the youngest of this generation. Those consumers between 18 and 24 years old are the ones who are most identified with the brand’s discourse and share its values ​​and objectives.
Achieving this attitude and commitment to clients becomes more difficult as they age. Within the same Millennial generation, those over 25 no longer think like those over 18; their attitude resembles that of those over 35 years of age.

This new generation of consumers constitutes an interesting target audience. It differs from its predecessors by showing a different attitude towards things and its own personality in all its actions. A new way of thinking and acting that they also apply to their behavior with brands; to which they expect a corresponding reaction. Thus, to conquer these new consumers, traditional marketing techniques no longer work.

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MIllennials understand that their relationship with brands must be two-way, as a result of gulf email list a mutual intention to communicate and share information. This forces brands to banish traditional marketing techniques, and to design strategies aimed at connecting with this target audience, also showing the more human side of the company. This generation shows a more open and communicative attitude, willing to share their experiences in their environment and express themselves freely. To do this, they use the means at their disposal, where Social Media play a fundamental role. Millennials are more willing (55%) to share their opinions and experiences through online media than other generations. Likewise, for these consumers, social networks, especially recommendations, constitute a more credible source of information than advertising. A fact where the study by Radius Global Marketing Research also coincides.
BGC shows that Millennials don’t particularly value discounts and offers from brands. Instead, they expect them to show a firm commitment and a vocation for service; as well as developing their own brand personality and being socially committed to their environment.

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