We are now in the age of the Millennials, the time when people born roughly between 1990 to 2000 come of age. India’s population will be 64% youth soon and it is important to understand our psyche, especially for companies who are looking to sell us products.
We, the Millennials are also sometimes referred to as Generation Me, because of our narcissism and importance of the self. We have been born in the age of the Internet, ever connected and ever informed. We spend a bulk of our time on our smartphones, clicking selfies and then sharing them on social media. Traditional marketing pitches are a big no-no for us, as we have heard them right from our childhood. We are a different generation, one that is coming to power and our buying preferences are drastically different.
Innovative companies have started responding to the changing paradigm, mixing the new and the old. New online dressing sites are providing us the customization that the old age tailor provided right from the comfort of our homes. Ola has now launched Ola Play, allowing us to shop, watch videos, listen to what we like, and even control the temperature of the car from a tablet. With Vodafone Flex and customized DTH channel packages, even the big companies are looking to provide us customization power.
These companies are looking to tap into our new demands: Personalization and Customization. We want everything to be catered to our choices and we want the power to modify products. We want a human touch to everything we buy. Faceless companies scare us away. We want to feel special and thought of and therefore everything that comes in touch with us has to make us feel that way.
From Subway’s food to Nike’s shoes to Dell’s laptops, more and more companies are making the shift, because, if it is not personal, it is not for us. However, only time will tell whether new companies will be able to provide these features on a mass scale.
Originally published for the Dainik Bhaskar Group on 2nd Dec, 2016.