Retailers cope with ‘I want what I want when I want it’ syndrome
What’s the difference between a customer who must always be deemed right and a petulant child?
Instant gratification, or "I want what I want when I want it" (IWWIWWIWI) is apparently a widely recognized and acceptable behavior, especially among Millennials. Discussing Dr. Kit Yarrow’s book, "Decoding the New Consumer Mind," Forbes notes consumers ignore information prior to needing it and then expect it instantly when they do. Meeting this demand, according to Dr. Yarrow, is a basic requirement for most shoppers today. Not meeting it means consumers will be off to another retailer in short order.
In-store is fine for satisfying the instant gratification requirement, but inferior salesmanship may send customers back to their devices to seal the deal. Today, the distinction between achieving physical possession of purchases and how they are sourced is increasingly irrelevant.
Arguing that "consumers have become channel agnostic in their buying experiences," the article quotes an investor at Freestyle Capital who stresses that "not all consumers need it tomorrow, not all will pay for shipping, and, believe it or not, consumers still enjoy going to the mall. A retailer’s job is to offer all experiences and let the consumer make the call."
In a piece on the Bulldog Reporter site, Robin Hazfitz, CEO, and Allison O’Keefe, SVP, Open Mind Strategy, suggest success comes from treating Millennials as individuals. Often considered "a marketer’s worst nightmare" with "short attention spans, limited brand loyalty and a sense of entitlement that knows no bounds," Millennials’ demand for control actually presents opportunities for merchants smart enough to listen and respond on a more personal level.
- Retail’s new battleground: the I want what I want when I want it generation – Forbes
- The IWWIWWIWI generation 18/2/14 – reginacremisi.blogspot
- Millennials: A marketer’s worst nightmare? Passion and control are the undercurrents that fuel millennial trends – Bulldog Reporter
Is it sensible or practical to expect retailers to satisfy IWWIWWIWI requirements? At what point does meeting customers’ instant-gratification demands go too far for retailers?