Business consultant and founder of the 3P conference for millennial entrepreneurs, Hifazat “Faz” Ahmad advises business owners to observe changes in how millennials are shopping this Black Friday and Cyber Monday, to improve future promotional plans.
For businesses to succeed in the new era of millennials, Faz advises owners to note their experience with this most-coveted consumer demographic group this holiday shopping season.
According to Faz “There are two key trends happening this holiday shopping season that businesses can tap into, to reach the marketplace potential of 40%-50% growth during this period. The first trend is that millennials use this period for most their holiday shopping and are looking for very good deals. The other key trend is that millennials don’t want the hassle of spending time in store, witnessing stampedes and waiting in line to get those deals.”
Referencing a recent survey of nearly 6,000 millennials, he shares “Influenster reports 93% of millennials will do their holiday shopping during this period and the vast majority will be using mobile phones and tablets as their shopping assistant to check out deals and buy online rather than in person. What this tells me is that businesses that are able to offer unique deals online, who can create waves of new and unique deals every day, can benefit from increased sales this shopping season and potentially develop repeat customers over the coming months and years.”
The same survey also found of the majority of millennials planning to shop, they’re almost evenly split about shopping on Black Friday (35%) or Cyber Monday (26%) or Both (39%).
Faz confirms this indicates that many digital natives don’t want to wait in line or fight crowds for discounts they know they can access online, but they still want to shop retail and decide on their purchases in person (especially shopping for electronics), before using a mobile device or returning home to purchase their items at the best price online.
To help business owners navigate the significant changes affecting their customer base, Faz leads workshops and consults with organizations to help them prepare for future market shifts, and create business strategies that will help them benefit from upcoming changes. He helps identify business strengths to make them “future enabled” and poised to grow from generational disruption.
His passion for this critical emerging group of consumers and extensive experience have made him a sought after speaker and consultant, having been hired to provide insights on millennials to organizations like HSBC, DeBeers, Cadillac, Boeing, CitiBank, SAP, Oracle, M&S, Ford, Blackberry, Google, Facebook, and others. He has organized over 300 events that have been attended by over 80,000 people in the past 10 years.
Tamer Mahas, Director of the Bold Talks series globally shares his feelings “Faz is a very savvy business person, focused and a visionary that never loses his site of the project’s corporate objectives, and always ensures his promised delivery.”
Nicholas Viegas, a Regional Manager for Grey Communications says “Faz lead the sales team from being average to overachievers in a mere 6 months. He has an amazing work ethic and is a solutions provider to ensure the job is done effectively and efficiently”
Faz is frequently asked to share his insights into how millennials will continue to impact businesses and society moving forward, for live audiences, consulting clients, and media news organizations. He is currently focused on helping business become “future enabled” by understanding generational disruption that will affect businesses, and helping businesses tap into millennial growth potential and conscious capitalism for SMEs.
Event organizers and media can reach Faz online for comment at http://fazinc.ca/ or by calling phone number 416-418-9494. Speakers and experts focusing on millennials and interested in participating in upcoming Faz Inc events are encouraged to also connect.
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