The #1 Thing that Matters to Millennial Shoppers May Surprise You
As a generation that is known for breaking tradition and living by their own rules, millennials are a highly studied and sought-after group for retailers.
According to Forbes Contributor Dan Schawbel, “There are eighty million millennials in America alone and they represent about a fourth of the entire population, with $200 billion in annual buying power. They have a lot of influence over older generations and are trendsetters across all industries from fashion to food. “ (1)
Yet despite the millennial generation’s rebellious reputation, their shopping preferences don’t differ that greatly from baby boomers or generation z.
So, what do millennials care the most about when it comes to clothes?
Perhaps you guessed price, or another factor that makes fast-fashion so popular: style. No, just like everyone else, millennials may settle for ill-fitting clothes, but they’re not shopping for them.
In fact, fit consistently ranks at or near the top of purchase factors not just with millennials, or in the U.S., but also around the world. (2)
While price and style tend to rank in the top 3 shopping priorities, fit reigns supreme. So brands and retailers take note: fit may be the best place to invest your time, energy, and hard earned cash.
Additional information in this article was obtained at the MAGIC Seminar Series.
1. Forbes: 10 New Findings About The Millennial Consumer: https://www.forbes.com/sites/danschawbel/2015/01/20/10-new-findings-about-the-millennial-consumer/#19f1eb2c6c8f
2. Cotton University: cottonuniversity.org