Millennials are shaping up to become extremely savvy online customers, overcoming the tradition foundations of brick and mortar retail. Research by Accenture shows that Millennials are not only transforming their own shopping behaviors but those of their parents, who are increasingly mimicking the demands of their children for “seamlessness” as they climb the digital learning curve. To help close the consumer generation gap, retail leaders need to take action now to provide the seamless end-to-end experience Millennials demand. A study on millennial retailing habits conducted by the Boston Consulting Group summarized that as superficial as it may seem, millennials do view brands as extensions of their own styles and personalities. Therefore it is important that brands represent their products authentically through qualities millennials wish to reveal about themselves. Perhaps no other brand quite embodies the global spirit of millennials than L’Oreal. We are delighted to have Christian Domingo, Digital Marketing Head from L’Oreal Philippines who will be sharing his own insights on decoding the Millennial retail myth at Retail World Philippines. We sat down with Christian for a quick 5 minute chat and here’s what transpired.
Could you share something about yourself with our readers?
I’m a complete geek; I love all things sci-fi, videogames, and any computer-related shenanigans. Back when I was in elementary school, I learned how to code HTML using Notepad and also learned Flash Actionscript and Photoshop. Contrarily, I’m also an old-school kind of guy. My dad and I got into vintage/classic car restorations when I hit college and I currently have a V-twin motorcycle pet project. People who don’t know me see me as an introvert, but people who do see me as an extrovert. Basically I have a lot of contradictions, but I’m completely fine living like that.
What is it about working in retail that inspires you?
The concept of retailing has been around for generations – it is the cornerstone of countless companies that cater to their consumers. However, it is also becoming the most recent subject of a great change, all thanks to the proliferation of online connectivity and the continuous improvement of electronic currencies and banking. This change, the shift into e-commerce, is the primary driving factor that has caught my attention (and the attention of most other companies around the globe).
Who is your personal industry hero and why?
In the world of e-commerce, there is no one else I consider to be the pinnacle of inspiration other than Jack Ma. Within 17 years, he has singlehandedly given millions of businesses in China the means to reach billions of consumers around the globe. This kind of innovative, first-mover thinking is the godsend for many a retail company and continues to be the point of reference for all other platforms who follow suit.
Could you give us a quick insight on how L’Oréal is embarking on the omnichannel?
In the past two years, L’Oreal worldwide has called for a global change in strategy, to become digital-first thinkers and to explore the possibilities of harnessing the true powers of this channel. While specific movements vary in intensity between brands and countries, L’Oreal has already established a universal digital learning machine in the form of upskilling programs, educational curriculums, and internal support teams to accelerate our growth in digital space. In time, all employees should be imbued with enough knowledge to integrate digital into their business objectives, whether they be from Sales, Marketing, or Operations.
Why is E-commerce integration vital for the competitiveness and vibrancy in the retail industry?
Almost half of the worldwide population is already connected online, and this is only set to grow exponentially as the years go by. And with it also comes the way each person behaves, whether it be reading the news, connecting with friends, looking for products, paying bills, or learning new information. Going online means having the world at one’s fingertips – literally. And as the adage goes “there’s an app for that”, this also holds true for shopping and retail. To put it in the simplest terms, E-commerce is now less a gimmick than it is a necessity, because people have now begun to evolve the way they shop. So must retail.
Final question: Could you give us a teaser of what you will be presenting at the show?
Hopefully something positive about millennials… 😉
Would you like to know about that bright “hope”? Join us now at Retail World Philippines with Christian and his fellow speakers from Philcare, Happyskin and Primer Group among others!
6th to 7th September 2016 at the SMX Convention Center. Click here to book your ticket today!