Myth #1: It’s all about online shopping.

While they are certainly very savvy and often check online, the survey conducted discovered that many consumers prefer visiting an actual store to shopping online. However, this does not discount the power and importance of online shopping– millennials hone in on their skills by checking out product rating, reviews and feedback to ensure the product has the best value and quality. When it comes to shopping in general, 68% of millennials want an integrated, seamless experience regardless of any channel. This means your marketing strategy should be able to translate effortlessly from smartphone to computer to physical store/advertisement for the best products and services.

Myth #2: Loyalty is lost.

In a recent survey also by Accenture, nearly 40% of retail industry leaders explained that their number one fear about millennials is their lack of loyalty. The Accenture survey found that millennials are fiercely loyal to brands and products provided they have been treated right. They desire a customer-centric experience tailored to their desires and needs as valued customers. Most want personalized, targeted promotions and discounts as a reward for their loyalty. Over 90% of millennials said they wanted brands to update them with rewards actively, and coupons sent via email or mail wield some of the highest influence. Other channels, such as text messages, have an influence on over half the consumers surveyed.

Myth #3: Social networks.

Millennials view on Facebook and other social media sites differently than marketers think. Clicking “like” on a company’s social media network page might suggest their interest in the brand, it does not mean they are loyal customers. Clicking the “like” button for millennials is a way to find offers and get updated on certain deals and promotions for a certain brand. The goal should be to create positive buzz – having a presence isn’t going to cut it for millennials. Negative online buzz can shrink brand strength and sales.

To close the emerging consumer generation gap, companies need to take action now to provide millennials with the seamless customer experience they desire.