I recently read the article ‘Retailers Shift Strategy to Court Millennials’ from the Business of Fashion. It notes the shift in apparel companies and retailers having to revamp their marketing, design and brand to attract the new generation: the Millennials.
“Recent surveys have found that members of the U.S. Millennial Generation – the roughly 80 million Americans born between 1977 and 2000 – pride themselves on their individuality, and shop accordingly.” Millennials are not as loyal to one brand or logo instead they shop freely finding items that are able to express their own individual style.
“This generational trait is forcing retailers to rethink everything from their merchandise and marketing to their dressing rooms and logos.” They name a few successful retailers who’ve been able to gain Milennials’ stamp of approval. Companies like Urban Outfitters Inc. and H&M. The ones who’ve painfully lagged behind (and are paying a huge price) are Abercrombie&Fitch and Aeropostale just to name a couple.
It’s really funny because growing up (middle school era) it was all about the HUGE logos like Hollister, Abercrombie, Aero, and Coach. Mind you this is from conservative Texas where I’m from. But when I moved onto high school and college this movement of individuality started to grow as well. I wanted to express myself through fashion and experiment with different trends and styles. I desired to be unique, look different and just be me! I remember if someone else wore the same piece of clothing as me I would cringe because…well we were wearing the same thing!
So Why are Millennials shopping differently?
Internet and smartphones – “More than 70 percent of 18- to 34-year-olds recently surveyed by The Intelligence Group said they research options online before going to a store… With vast amounts of information easily available, they are savvy shoppers who know how to compare price, quality and convenience.” People have probably said this a billion times before but let’s face it the Internet really did change a lot of things! As Millennials we are able to search through so many different options, brands, prices, quality, and get it delivered to our door. One thing I love is the ability to see other people’s styles via Fashion Youtubers and blogs and get inspired to dress in new and creative ways. We get to see and share fashion and styles from different cities all over the world.
This article really intrigued my interest (again) about Millennials, their shopping patterns and how to market to them. Also, how I fit into the group as a fellow Millennial so I picked up a book from the library called “GEN BUY” by Kit Yarrow and Jayne O’Donnell. Haven’t started it yet but it had pretty good reviews on Amazon. I may do a review of it here after I read it. Any thoughts about the book or Millennials in general? Let me know~ I’d love to hear and learn more!