Understanding Behavioral and Trends of Millennials: Best Research Areas for future researchers: 2019 - The Indian Perspe

1. Tutors India Lab Tutors India Lab INDIAN PRESPECTIVE UNDERSTANDING BEHAVIORAL AND TRENDS OF MILLENNIALS Best Research Areas for future researchers: 2019 1 | Understanding Behavioral and Trends of millennials Business and Management

2. Tutors India Lab Tutors India Lab EXECUTIVE SUMMARY 1. them the most attractive segment for different retailers and brands. The employment rate of the Indian millennials is 47%, which makes 2. modes because of the rising internet penetration. Indian millennials have become the chief users of the online retail 3. compared to other older generations. The brand loyalty among the Indian millennials is decreasing when 1 | Understanding Behavioral and Trends of millennials 2 | Understanding Behavioral and Trends of millennials Business and Management Business and Management

3. Tutors India Lab INTRODUCTION In recent years, millennials, the individuals born between 1980 and 1999, have gained a lot of attention because of their behavior and habits. The global population of the millennials is approximately 2 billion, which is 27% of the total global population. (Deloitte, 2019) Some of them are on the verge of developing into responsible adults, whereas some of them have already stepped into adulthood while adapting themselves to the rapid modernization. According to Deloitte 2018 millennial report (Private, 2018), India has a millennial population of 440 million, which equates to 34% of the entire Indian population. In addition to this, millennials constitute 47% of the entire Indian working population (Livemint, 2019). The spending power of the millennials has increased along with their access to different products and services. The millennials are the first generation to utilize the advancements in technology for a variety of purposes including communication, entertainment, education, shopping, etc. Notably, the availability of various online purchase chan- nels has transformed the way millennials purchase. Therefore, it is vital for the brands to adopt different strategies to that are streamlined to attract the millennials (Jennifer Brown et al., 2017) 1 | Understanding Behavioral and Trends of millennials 3 Business and Management

4. Tutors India Lab INDIAN MILLENNIALS Millennials have become the chief users of the online retail modes because of the rising internet penetration (Foundation, 2018). A variety of things including fash- ion, electronics, groceries, food, household supplies, beauty products, arts, handicrafts and many more are available online (FCCI & PWC, 2016). The easy return policy of the online shopping sites that allows the con- sumers to try the products and return them if they are not satisfied is one of the primary reasons for the popu- larity of e-commerce sites. Moreover, the future trends of the e-commerce industry have indicated that in the future a large number of people from the tier III and tier IV cities will be involved in online buying too. The main reason for this is the availability of smartphones and data plans that are affordable (AKBEN, 2019). The decision making process involved in the purchase of good is influenced by a number of aspects including ratings, online reviews, peer opinions etc. (Sethi, Kaur, & Wadera, 2018). 1 | Understanding Behavioral and Trends of millennials 4 Business and Management

5. Tutors India Lab BRAND LOYALTY The brand loyalty among the Indian millennials is decreasing when compared to other older generations. The brand loyalty of the millennials is impacted by millennials preference for convenience and the increasing use of technology. However, the Indian millennials are often attracted towards brands that hold loyalty towards the brands that hold values and has unique selling propositions. The association between brand loyalty and brand resonance is very weak in the case of the millennials. At present, where there are number of brand choices are available for the Indian millennials, many brands are finding it very difficult to gain the brand loyalty of the Indian millennials (Private, 2018). The brand managers should develop different strategies including online personalization, creating emotional impact etc. in order to gain the trust of the individuals towards their brands which is the key towards develop a brand loyalty among the millennials (Gehan, Dhameeth & Yamamoto, 2017). SUMMARY Social media also plays an essential role in helping the brands to make a personal communication with the millennials. In order to personalize the relationship brands have with their customers, brands can resort to online recommendations. The online recommendations can be in the form of personal reviews by customers or personalized product recommendations provided by the search engines. In addition to this, brands can pro- vide loyalty programme which provides personalized offers to the millennials based on their purchase patterns (Smith, 2017). Further millennials are often attracted to brands whose values are similar to that of their values. 1 | Understanding Behavioral and Trends of millennials 5 Business and Management

6. Tutors India Lab REFERENCES ABOUT THE DEPARTMENT . Business and management Lab at Tutors India is involved in exploring novel research areas for the challenges faced by today’s technology-oriented business or organisation, the market, the economy, finance and sales. The research team explores and identifies troubling questions that exist in scholarly literature, in theory, or in practices that needs deliberate investigation. AKBEN. (2019). E-commerce and Consumer Internet Sector – India Trendbook 2019. Deloitte. (2019). Unravelling the Indian Consumer. FCCI, & PWC. (2016). Shaping Consumer Trends. Foundation, I. B. E. (2018). Indian E-COMMERCE Industry Report. . Gehan, Dhameeth, S., & Yamamoto, O. (2017). Relationship Between Millennials and Brand Loyalty: Mediating Brand Loyalty Factors. Journal of Business Theory and Practice, 5(3), 223. https://doi.org/10.22158/ jbtp.v5n3p223 ABOUT US . Tutors India, is world’s reputed academic guidance provider for have guided more than 4,500 Ph.D. scholars and 10,500 Masters Students across the globe. We support students, research schol- ars,entrepreneurs, and professionals from various organizations in providing consistently high-quality writing and data analytical servicesevery time. We value every client and make sure their requirements are identified and understood by our specialized pro- fessionals and analysts, enriched in experience to deliver technical- ly sound output within the requested timeframe. Writers at Tutors India are best referred as ‘Researchers’ since every topic they handle unique and challenging. We specialize in handling text and data, i.e., content development and Statistical analysis where the latest statistical applications are exhausted by our expert analysts for determining the outcome of the data analysed. Qualified and experienced researchers including Ph.D. holders, statisticians, and research analysts offer cutting edge research consulting and writing services to meet your business information or academic project requirement. Our expertise has passion towards research and per- sonal assistance as we work closely with you for a very profession- al and quality output within your stipulated time frame. Our services cover vast areas, and we also support either part or entire research paper/service as per your requirement at competitive prices. Jennifer Brown, Apostolova, V., Barton, C., Bolton, P., Dempsey, N., Harari, D., … Powell, A. (2017). Millenni- als.Livemint. (2019, September). Livemint. Private, F. (2018). Redefining the consumer story. (Feb- ruary). Retrieved from https://rls.net.in/wp-content/up- loads/2018/02/Trendsetting-Millenials_RAI-Deloitte.pdf . Sethi, R. S., Kaur, J., & Wadera, D. (2018). Purchase Intention Survey of Millennials. Academy of Marketing Studies Journa, 22(1), 16. Smith, K. T. (2017). Digital Marketing Strategies that Millennials Find Appealing , Motivating , or Just Annoying. (October 2011). https:// doi.org/10.2139/ssrn.1692443 Format Type : E-Book Copyright © 2001 - 2019 Tutors India All Rights Reserved. No part of this document should be modified/used without prior consent. Cell:+91-4448137070 Web:www.tutorsindia.com Email:info@tutorsindia.com 1 | Understanding Behavioral and Trends of millennials Business and Management