Does the millennial generation shape the wedding industry today?[[ 1516831200 * 1000 | amDateFormat: 'll']] | 1,629 views
We are the millennials!
We've now entered the era where the millennials are the industry's heaviest consumers. This also goes for the wedding scene as well, thus, how does this affect the wedding industry? As a matter of fact, it is the generation of the millennials who are currently preparing for wedding and marriage. Hence, this will definitely constitute the shaping of the wedding scene.
Who are the millennials?
First things first, the background of millennials. According to a research conducted Goldman Sachs Global Investment Research, they are born between the year of 1980 to 2000, hence making them a part of the Generation Y as we all know it. In the US itself, there are 92 million millennials (US Census), surpassing the numbers of Baby Boomers and Generation X. Therefore, making them on of the largest generations in the history.
If you do the maths, the first half of the millennials are now the biggest spender cohorts in the economy. Their age currently is between 37 to 27 years old, just the right range for both men and women to settle down and get married. Moreover, those who are between 1990 to 1995 have also started to consider marriage. With that being said, we can safely say the the millennials are the perfect target audience for wedding vendors.
On another note, there has been countless arguments that ' being a millennial' is more of an act of leading a certain lifestyle. Especially in the pop culture, millennials are often linked to activities and things that youthful and invigorating. However, in a deeper scope of understanding, it is by reality that not all millennials have the same privilege to be one. Hence, the statement is debatable. But Nonetheless, millennials are ruling the world.
5 main characteristics of the millennials
You see, just like how Baby Boomers differs from Generation X, the millennials have their own unique characteristics and personalities. Without us realizing, the economy revolves around them, marketers think how can they approach them and make them get their hands on the products and services. Therefore, let's take a look at some significant traits of the millennial generation and what wedding vendors can act upon them.
1. They care about visuals.
Millennials are visual buyers and learners. What does this means for wedding vendors? In this industry, the only way potential clients purchase a product is through images and videos of the product or services you share, especially on social media. So, make your social media networks look good! With all due respect, we understand that 'it's not all about the pretty things'. But unfortunately, millennials get easily sold just by looking at packaging, imagine when you manage to captivate them just by posts you share on Instagram! Let the visual speak for itself. Do you know the chances of a Instagram user following you is higher when you have a nice Instagram feed? Yes it does, so this is why vendors need to learn about content creation.
2. They are tech-savvy.
Talking about visuals, it is no surprise that it comes with technology. Millennials browse and purchase things online, nowadays increased usage of transaction via mobile applications. Question is, how to incorporate technology into the wedding scene? Take a look at KYUB Studio, an invitation vendor who is one step forward, creating an augmented reality invitation. Another example would be Life in 360, a photo booth vendor who instead of the normal pose & print image, they use several cameras to capture resulting in a GIF-like image. Those are some instances of wedding vendors who caught up with the technology advancement.
Still, there are more creative ways wedding vendors can be tech-savvy like for advertising purposes. Have you considered giving a virtual reality (VR) tour for the wedding of a past client? This is an amazing idea for venue and decorators, you can let potential clients see your work up-close, almost like reality. When you think about it closely, surprisingly there sure are many ways to be a tech-savvy wedding vendor.
3. They want you to listen.
While sales pitch was about ' always be closing', in this generations you have to 'always be helpful'. If you keep pushing them your product or service, they feel that you're not sincere and only wanting to make money. Although it is true in literal sense, millennials wants you to listen to them and make them feel special as if you are crafting a customized experience for them.
Say for instance you are offering catering service, you may have the finest selection of menu or dishes suited for a wedding party, however, if you keep telling them that it's your bestseller product, they will feel that they're being push. Hence, listen to their preferences, they want a spicy food, you give them that. After all, customers are king, aren't they? This applies to other vendors across multiple categories too.
4. They appreciate transparency.
Not only millennials, but almost everyone nowadays appreciates transparency. It's best for vendors to avoid beating about the bush. This also goes to your advertisement. Moreover, when holding a meeting with your potential clients, avoid sugarcoating your pitches. Don't make promises you can't keep. Be honest and open, you'll find that they will act more loyal to your brand.
You may encounter potential clients who want to know every single detail, give them that. For instance, do you source your product locally or overseas? Where do you get your flowers? What are the ingredients you use? Not only details involved in the operations, this also applies to payments and billings, it's best to disclose all terms and conditions so clients will be satisfied with your service.
5. They like to compare.
Last but not least, comparison. Do you reckon the word dilemma? This word is commonly used in situations where a person has a difficult choice between two or more alternatives. The thing about millennials and all of us in general, we seek alternatives in hopes they get a better deal or an upgraded experience. In this case, wedding vendors who offer packages is at advantage. Potential clients can compare the list of product and service they get from you. This too, is where transparency comes in so clients can acknowledge what you can give that other vendors don't and vice versa.
Verdict: Does the millennials shape the wedding industry today?
To answer the question, it's a solid yes, the millennials do indeed shape the wedding industry. As we've said a few time, you are probably already marketing your products and services in methods that are suitable for the millennials. As the matter of fact, we believe some wedding vendors belong to this generation. So, you surely can relate about the behaviour of millennial couples who are getting married and adjust the way to connect with them.
If we have to choose, what differs the millennials from the past generations is the way we communicate with them. We are all now connected with internet, and social media is the channel how we all communicate with one another. Moreover, millennials are very trend frenzy, so vendors should keep in mind to follow the latest wedding trend of the season. Speaking of trends, it's Stardust for 2018. But sometimes, trends doesn't do it too. There has to be a touch of personalization, that's the reason why millennial want you to listen to their needs and wants. Why? Because they are not afraid to speak up and voice their opinions.
All in all, we think that the millennials are indeed are ruling the economy. That's the millennials to you. They somehow force you to provide and sell products and services that revolves around them and only to their liking. What do you think about the millennials shaping the wedding industry? Share your thoughts on the comment box below!