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Big brands converge at Millennial 20/20 to discuss next generation commerce

November 15, 2017 Conferences No Comments Email Email

Millennial 20/20 Australia, the ground-breaking global summit exploring how the “millennial mindset’’ is shaping the next generation of business kicked off today at Carriageworks in Sydney. Business leaders representing global and Australian brands converged to share insights on how to engage with this audience of digital natives with consumer habits that transcend generational boundaries and shape the future of commerce.

Day One of the Summit saw brands including Facebook, Contiki and Afterpay discuss their key strategies target this powerful demographic. As traditional and disruptive businesses are faced with the challenge of connecting with a more-complex and ever-evolving consumer, innovation, disruption and technology are essential to success.

As social media continues to play a vital role in modern business, a dynamic discussion between Alexandra Sloane, Head of Marketing Australia and New Zealand, Facebook and social entrepreneur Jules Lund, Founder of TRIBE, recognised meaningful connections with modern consumers requires more than just relevance, but personalisation and customisation.

The swift nature of the current newsfeed environment means the average time for online content consumption averages just 2.5 seconds per post on a desktop, and 1.7 seconds on mobile. Therefore, the use of motion content applications such as Boomerang and Instagram’s rewind feature offer more creative flexibility for diverse and engaging content, without the associated production costs.

Chris Hughes, Head of Digital Specialised Sales – Asia Pacific, Cybersource – a subsidiary of Visa – discussed the future of commerce and the need for businesses to adapt and evolve in light of the growth of the shared economy and the fourth industrial revolution – digital.

Mr Hughes shared staggering statistics, including the projected growth of the shared economy from $158 billion currently to $335 billion by 2025. The positive uptake of the shared economy is supported by the fact that 78% of consumers are willing to share or rent their personal resources, as we head to a future where even the concept of owning a car will become antiquated.

He added that consumers are collectively moving towards the ‘I want what I want, when I want it’ mindset – products and services can be ordered directly from our smartphones, from anywhere at any time.

Millennial 20/20 Australia will continue on Wednesday, 15 November 2017 at Carriageworks in Sydney.

Day Two streams will focus on Food & Beverage, Fashion, Beauty & Retail, Innovation and Marketing & Lifestyle with speakers including Sam McDonagh, Country Manager Australia and New Zealand, Airbnb; Loïc Réthoré, General Manager – Australia and Oceania, Nespresso; Edwina McCann, Editor-in-Chief, Vogue Australia; John Elliott, Managing Director, TOMS Australia and Anthony Toovey, Managing Director, Unilever.

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