i3 - January/February 2016 - 104

BY STEVE SMITH

Business

R E TA I L ST R AT EG I E S
UNDERSTANDING DIVERSITY
WITH MILLENNIALS

having a show in their neighborhood isn't nearly enough. As
Roeschke says, "Don't market to 'the millennial.'" They are not
one monolithic group. Millennials are not just, in her words,
"twenty-somethings who drink [upscale] coffee, wear fedoras or
knit caps and colorful glasses." Marketing plans that have been
major challenge facing tech marketers at CES 2016
using such images so far are, "just not working," she advises.
and beyond is how to sell to millennials and create
Roeschke says that CEB Iconoculture research has shown
brand loyalty among the elusive group of 80 million
that millennials are defined by "diversity" which includes multi19- to 38-year-olds. Those statistics come from Lindculturalism, lifestyle and economic status. The issue of diversity
sey Roeschke, lead consumer strategist with CEB Iconoculture,
in their lives "is real and not changing and must be considered
during a presentation on this key demographic group at the
as you move forward."
Consumer Technology Associations's Innovate!
One can't relate all the nuances of Roeschke's
Conference in New York last November.
THINGS TO CONSIDER
talk in this space, but her research shows that
I'm more sensitive to the subject than most. I
WHEN YOU MARKET TO
the Great Recession impacted them deeply.
am far from the millennial demographic, but I
Better education does not mean better employam a lifelong resident of Williamsburg, BrookMILLENNIALS*
ment. Stats on millennials living in parents'
lyn which has become the hipster capital of the
***
basements is not much different than other
world. Some of the traditional ethnic immigrant
Diversity is real and not
groups from years gone by. And Roeschke says
groups who have been here for a century are still
changing with this group
that they live with a partner or roommates
here. (I'm half Italian and half Irish.) But many of
***
longer than other generations have, and delay
my new neighbors who now rent apartments in
Millennials have really
marriage for various reasons.
either "vintage" or new buildings, or have bought
been impacted by the
What I got out of Roeschke's talk-and my
grand newly-built condos in my neighborhood
Great Recession
own personal experiences with millennials here
are millennials and they are immigrants. They
***
in Williamsburg-is that they can spot a phony
come from exotic lands like Texas, North CaroHappiness is an "active
a mile away. She advises that for brand marketlina, Ohio, Virginia... You get the picture.
value" that drives them
ing "diversity is so important," and that you must
But what really opened my eyes to the
"anchor your brand to something hyper specific."
changes around here-and the changes in tech
***
It goes back to providing a product and sermarketing-was an event I covered for TWICE
Many are ambitious and
vice
that solves "a real problem, no matter what
last fall about a mile from my house at the
have a real desire to be
it
is
and
addressing an actual need." And if a
Brooklyn Expo Center, getgeeked. Technology
successful
marketing program shows "reliable specificity,"
companies of all types showed their wares one
***
namely if campaigns tell stories about people
evening, first to the media and then to the many
Due to the times they
that "feel real because they are not stereotypes,"
millennials in the neighborhood. Established
have lived through
you've got a pretty good chance to score with
brands like JVC and JBL were there, but there
they are "solution savvy
this lucrative, hip and diverse demographic
were plenty of companies like PowerUp Toys,
people."
group that will dominate markets and tastes for
Podo, Home Advisor and even Technicolor,
years to come.
which used the event to begin its "reintroduc*From the CTA Innovate!
tion" of RCA to millennials.
Presentation of Lindsey Roeschke,
Steve Smith is editor at large of TWICE and
Give those companies credit, they went to the
CEB Iconoculture.
was its longtime editor in chief.
place many millennials and hipsters live. But

JGI/Getty Images

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