5 Ways Wholesale Distributors Can Succeed With The Millennial Generation.
Currently, the number of millennial employees (those born between 1982 and 2004) exceeds that of baby boomers; by 2030, millennials will represent 75% of the workforce, according to the U.S. Bureau of Labor Statistics.
As the most technologically adept generation in history, the impact millennials will have on the business world is expected to be significant.
- As employees, millennials value collaboration rapid advancement, and innovation.
- As customers, millennials value choice, flexibility, and the ability to do business using the technology they prefer. Many millennials research products online, share reviews on social media, order online, and interact with customer service through online chat or social media.
- As suppliers, millennials prefer partners who can share data streams easily with their own technology, so they can analyze trends and monitor real-time activity.
In a world driven by millennials, distributors will need to focus on five key technology drivers:
- The Cloud;
- Online Commerce;
- Inventory Management.
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