With more than 30 years of experience, Bob Phibbs, the Retail Doctor®, is a nationally recognized expert on business strategy, customer service, sales, and marketing. He has been a corporate officer, franchisor, and entrepreneur, and is a frequent guest of MSNBC. Phibbs has also authored several books, including “You Can Compete” and “69 Proven Ways to Build Your Retail Store Sales.”

In his work, he has addressed how to meet every generation’s wants and needs. Here, he focuses on millennials—the generation born between 1981 and 1996.

Why millennials? Because they have surpassed baby boomers as the country’s largest living adult generation, and, according to the U.S. Census Bureau, they represent approximately 25% of the U.S. population. That makes them the nation’s largest consumer group, and with the oldest millennials now in their 40s, presbyopia will likely be landing more and more of them in your exam chair.
 
While The New York Times defines them as having “no anger, no edge, no ego,” here's what Phibbs has to say about getting this demographic into your practice, as well as what makes them tick. 

Who They Are

Mr. Rogers told millennials they were special and important. Helicopter parenting kept them sheltered. No one won, lost, or was picked last.
 
That being said, this generation wants to change the world. They also live two lives—one in real time and the other in edited virtual, online spaces. This generation experiences life through their smartphones held in outstretched hands, taking videos to capture and share their moments on social media. For them, it's not about being in the moment—it's about capturing a moment and sharing it.
 
They’re keeping up with the Joneses, not by collecting things and products like their boomer parents, but by collecting photos, friends, and experiences. That means the key to this demographic is creating a special experience in your optical.

Who They’re Not

Don’t confuse millenials with Generation X, who learned to do things on their own without parental interference. According to Havas PR North America, “Only 13% of Gen X-ers report seeking advice on purchases.”
 
In contrast, millennials need constant feedback from friends, family, and social media on most decisions, especially when buying something.

Quality vs. Convenience

While baby boomers are all about convenience, millennials are all about quality. The backstory of a brand or product is compelling if you can present it in an experiential way.
 
Millenials prefer to shop for curated items at independent retailers. They don’t want to have to wade through 30 different models of something. Instead, this generation is more concerned with a product’s craftsmanship, heritage, safety, and environmental impact than a laundry list of features. They want authentic messaging and real products.

Solutions + Social Conscience

Signs that show how socially conscious a business is speaks to millenials’ social nature. They respond to solution-based displays like, “Here are five things you need.”
 
“If your store could give inspiration and information and at the same time help society, that would draw millennials,” says Phibbs. “So would being green.”

How They Shop

While millennials are social, their experience still needs to be special and intimate. They like virtual and social shopping. They’re grazers and tend to be anti-impulse buyers. They like to flirt with a product, check it out several times—maybe online and in-store. They want to fall in love with it and then tell everybody about it.
 
They don’t want massive choice; they want simple choice. The luxury market is responding and paring down collections, so consider doing the same. Don’t stock deep. Try Goldilocks-type signage that shows good, better, and best to help them make an easy choice.  

Once a millenial customer has their peers’ OK, how will you as a retailer get the rest of them to come into your store? Word of mouth used to take weeks, but now it happens in nanoseconds. Smart retailers must sell to millennials as a group, not just the individual in front of them.
 
The bottom line: Retailers have fallen behind in offering in-store experiences that balance personalization and customer service, but now there’s an opportunity to take the reins back. The expectation from consumers is clear, and it’s up to retailers to offer engaging and custom experiences that will cater to shoppers across diverse generational groups.

“If your store could give inspiration and information and at the same time help society, that would draw millennials. So would being green.” —Bob Phibbs

This article was originally published in a sponsored newsletter.