Kit Yarrow, Ph.D., uncovers psychological code that drives Gen Y purchases
TORONTO, March 7, 2012 /CNW/ - At a private VIP breakfast presentation that kicked off the 2012 Shopper Marketing Forum yesterday, consumer psychologist and author Kit Yarrow, PhD., unveiled the key motivators in Gen Y's buying decisions and identified essential new strategies to help marketers understand and address the emotional needs and values that drive purchases.
Gen Y, today's 13-to 33-year-olds, are enthusiastic, confident and tech-savvy shoppers, and in less than five years they'll have more spending power than Boomers. Presented by Shopper DDB, which provides shopper marketing insight, strategy and creative to brands and retailers, the VIP breakfast showcased up-to-the-minute research, case examples and actionable psychological insights from the Gen Y group - powered shifts in shopping behaviour to come, propelled by the unique psychology of the first Internet generation that has resulted in new ways of shopping and different motivations for buying in-store, out of store, online and beyond.
"Marketing to Gen Y shoppers means first understanding the context of their generation and new ways of thinking that influence their purchase decisions," says Kit Yarrow, PhD., Chair, Department of Psychology, Golden Gate University. "This is a highly influential group with a unique psychological code that is driven by technology, making them 24/7 shoppers who have a higher bar for stimulation and lower tolerance for ambiguity."
Yarrow gave attendees a sneak peek into six emerging shopper marketing trends, driven by the unique needs and values of Gen Y shoppers, including deeper brand involvement, speed and intensity as well as visual and intuitive communication, an understanding of the authentic human persona, merged online and in-person retail and impactful 'technovation'. New strategies for marketing to Gen Y shoppers were also unveiled - from building a brand relationship via multiple connectors to avoiding phony when inspiring brand trust.
"Gen Y is truly revolutionizing the retail experience. They are an empowered generation that's used to being seen and heard - and they expect to be catered to by marketers," says Jason Dubroy, VP Shopper Marketing, ShopperDDB. "ShopperDDB was pleased to host this valued session with one of North America's leading consumer and shopper marketing experts, and to offer our guests key insights and strategies on how marketers and retailers can successfully engage with Gen Y."
Kit Yarrow, Ph.D., is an award-winning research psychologist, professor, author and consultant. Kit is author of "Gen BuY" (Wiley, 2009) and blogs for Psychology Today, The Huffington Post and The Wall Street Journal. As a recognized consumer and shopper expert, she is frequently quoted in the media including The New York Times, USA Today, Good Morning America and The CBS Evening News. She chairs the Psychology Department and is a jointly appointed professor of both psychology and marketing at Golden Gate University in San Francisco.
About DDB Canada
DDB Canada is the most creatively acclaimed, internationally recognized marketing communications agency in Canada. Known for advertising that generates significant results for clients, DDB Canada is a "total communications company" whose fundamental belief is that creativity is the most powerful force in business. DDB Canada has offices in Vancouver, Edmonton, Toronto and Montreal. The agency's integrated groups include: DDB Kid Think (youth marketing), DDB Public Relations, Tribal DDB (online and interactive), Karacters Design Group, Rapp Canada (direct), Radar DDB (social media marketing), DDB Hodes Recruitment Communications (recruitment marketing) and ShopperDDB (shopper marketing).
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