The Millennial generation is an empowered generation that knows they are sought after by so many brands. They expect brands to treat them as more than just an opportunity to make money and look for that little 'something extra'? from a brand before they are willing to give it up ' their money that is.
One way in which brands have been successful at breaking down this barrier, is by feeding Millennials' need for exclusivity. There are two ways in particular that I've seen this effectively done: limiting purchasing time and offering personalized customization.
Here's a quick look into both of these approaches:
Limited Time Only
Brands continue to deploy pop-up stores in and around hot spots in major cities. The here-today-gone-tomorrow effect created by a pop-up store urges consumers to act now if they don't want to miss out on the experience. A recent example of how a brand effectively deployed a pop-up store is the Puma City experience.
Another limited time only approach that continues to grow in popularity is the deal-a-day feature on websites. Whiskeymilitia.com and Woot.com are model examples of ways in which brands can provide a sense of exclusivity to its consumers. For those of you who are unfamiliar with these sites ' they essentially provide users with a specific item, at a discounted price, for a limited time only (some daily, some hourly ' it varies). If they don't get to it while it's there, the chance has passed them by. Slowly but surely, more and more brands are adopting this feature to their own sites ' a recent example being UrbanOutfitters.com.
There's nothing worse than showing up to work or to a party, and seeing someone wearing the same thing at you. To help consumers prevent this from happening, more and more brands are beginning to open up their product lines for personalized customization. The sneaker industry is a great example of where brands are allowing consumers to put their own twist on their products. Footwear giants such as Nike, Reebok, and Adidas all have features on their websites that allow consumers to personalize their sneakers. While the style of shoe is provided, consumers are in total control of everything else from materials to colors.
These are just two examples of how brands are satisfying Millennials' appetite for exclusivity. Two very different approaches, but the same idea.
What are some other approaches you've seen lately?