Nielsen Report analysis
MARKETING SITUATION: You are planning to open a “pop up” retail store located within the Saint Louis Lambert Airport Terminal (A, B or both) and have determined that your target market is the “millennial traveler.”
According to Mr. Ramon Lo, Editorial Director of Airport Revenue News, pop-up shops at airports are increasingly successful for marketers—as well as for airports—since the airport gets a bit of extra revenue from the operations (usually a percentage of sales). Passengers also benefit in “seeing something new, unique and cool” instead of the plain and empty spaces.
“From a business standpoint, it’s a great idea,” said Mr. Lo. “Short-term leases can give vendors a chance to dip their toes into the airport arena and build awareness for street-side locations,” while allowing airports to vet new operators and, often, fill unused spaces, he said.
Based on the situation above, and after reading the Nielsen report Young and Ready to Travel (and Shop): A Look at Millennial Shoppers, answer each of the following questions:
1. What product category or categories of merchandise do you recommend offering and selling in your “pop up shop” that will attract millennial age travelers? WHY?
2. What would you recommend for promotion that would encourage targeted customers to visit/come into the store when at the airport and ultimately make a purchase? WHY?
IMPORTANT: The category(ies) MUST NOT be a restaurant or food that requires preparation.
3. What are three (3) specific findings from the Nielsen report about the BEHAVIOR and ATTITUDE of millennial travelers that support your marketing recommendations above? Be sure to explain WHY and HOW this information is supportive as well as clearly cite the specific details (%’s, statements, etc.).