VISITOR COLUMN: Marketing jewelry to millenials as a 50+- year-old CEO

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Marketing to millennials is puzzling. A heading in the Guardian in March 2017 announced, Marrying millennials are providing the finger to diamond rings.

Every short article and report you check out on millenials appears to inform a various story and with this much conflicting information, it’s easy to understand that jewellery merchants in their fifties, like me, feel perplexed. Who are these millennials?

Here at TheDiamondStore.co.uk, millennials are not our greatest client sector right now. They are, nevertheless, our future clients, and coming right behind them are their more youthful brother or sisters, Generation Z.

Here’s the essence: Millennials are continuously challenging us. They are determined.

In our experience, millennial consumers are precisely as the media depicts them. They choose experiences over belongings. They are continuously starving for brand-new, interesting web and social material.

When it comes to items, our millennials do not desire the little, high worth products their moms and dads would have selected. Millennials still require high quality jewellery, however they wish to invest less cash per product, and long for larger and sparklier pieces since that is the pattern today. We are now getting the more youthful consumers who invest ₤ 3,000 on a weekend in New York to propose in a helicopter, catch it with their ₤ 1,000 iPhoneX, and purchase a ₤ 350 engagement ring.

Definitely, you state, these millennials wish to have their cake and consume it? How can jewellery merchants stay up to date with all this?

The other perspective is that here is a fantastic chance– a substantial, growing market section, excited to engage with those jewellery brand names that actually take the time to comprehend their top priorities and provide them exactly what they desire. Since to be effective at it, we require to accept consistent modification, innovate brand-new items that provide excellent quality at lower cost points, and come up with continuous, fresh material that is extremely appropriate to our consumers.

How do we make more sense out of millennial marketing?

Simply in the last 4 years, our marketing department has actually grown to consist of a complete time social media individual and a complete time content author. ‘Test it’ is our millennial marketing mantra.

Maybe the most significant lesson I’ve personally found out is this: There is no universal millennial marketing service, since this is a continuously altering market, and every brand name is various. Millennials do use us one thing that previous generations of consumers didn’t: they are open to having a one-to-one discussion with brand names.

Marketing to millennials is puzzling. Millennials still require high quality jewellery, however they desire to invest less cash per product, and long for larger and sparklier pieces since that is the pattern right now. ‘Test it’ is our millennial marketing mantra.

Maybe the most significant lesson I’ve personally discovered is this: There is no universal millennial marketing option, due to the fact that this is a continuously altering market, and every brand name is various. Millennials do use us one thing that previous generations of consumers didn’t: they are open to having a one-to-one discussion with brand names.