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What Is Generation Z (Gen Z)?

Gen Z is the name given to the current generation of young people by many demographic researchers. According to the Pew Research Center, Generation Z consists of people born between 1997 and 2012. The oldest of this generation are reaching 25 years of age, with many now out of college, getting married, and starting families. They follow on the heels of the millennials (born between 1981 and 1996). As a result of the COVID-19 pandemic, members of Gen Z face a future more uncertain than many previous generations encountered.

Key Takeways

Understanding Gen Z

Gen Z is the most racially and ethnically diverse generation of Americans yet. According to the Pew Research Center, non-Hispanic White Gen Zers hold a very slim majority at 52%. Hispanics make up 25% of Gen Z, while Black Gen Zers make up 14%, and 6% are Asian. The remaining 5% are a different race or two or more races. The majority of Gen Z members are not immigrants: Only 6% were born outside the United States.

Though past generations have taken up social issues, Gen Z are more socially minded than previous generations. According to the Annie E. Casey Foundation, Gen Zers are focused on seven key social issues: healthcare, mental health, higher education, economic security, civic engagement, race equity, and the environment.

Many Gen Zers will soon be ineligible to remain on their parents' health insurance, and they are concerned about how to pay for their own coverage. This issue is further exacerbated by the increase in the number of Gen Zers seeking mental health treatment-37%, according to the American Psychological Association.

Gen Zers also make education a priority. More than half (57%) of those ages 18 to 21 years old were enrolled at either a two- or four-year college. Gen Z members also are more likely to finish high school.

Members of Gen Z are fighting for social change, racial equity, and protecting the environment in record numbers. Some have elevated their profile to the national level, such as X (formerly Emma) González, a survivor of the 2018 Marjory Stoneman Douglas High School shooting, who helped organize the March for Our Lives movement with other survivors. According to the Pew Research Center, approximately 70% of Gen Zers think the government needs to take a more active stance in addressing problems.

Gen Z vs. Millennials, Gen X, and Baby Boomers

The 21st Annual Transamerica Retirement Survey of Workers looked at how Gen Z views its finances and retirement prospects compared with millennials, Gen Xers, and baby boomers. Key findings include:

Almost six in 10 Gen Z workers (59%) said their employment situation has been negatively impacted-primarily due to a reduction in work hours-as a result of the pandemic, which is significantly more than among millennials (51%), Gen Xers (39%), and baby boomers (30%).

Baby boomers, Gen Xers, and millennials are significantly more likely than Gen Zers to cite saving for retirement as a financial priority (75%, 65%, 53%, and 33%, respectively). But they are, of course, a lot closer to it-or already there, in the case of many boomers.

Building emergency savings is a priority for 50% of Gen Xers, 46% of millennials, 42% of Gen Zers, and 36% of baby boomers.

33%

Gen Z's Financial Situation

According to the Transamerica survey results, Gen Z currently has little to no financial security. Gen Z workers are more likely to say they are just getting by to cover basic living expenses (50%) and paying off student loans (35%) than older generations. In addition, they have saved just $2,000 in emergency savings, while 30% have dipped into their retirement accounts. Also, approximately one-third of Gen Zers have reduced their day-to-day expenses due to pandemic-related financial strain.

Retirement Savings

Even though Gen Zers might be on shaky financial ground at the moment, they have firm plans for retirement. In fact, 70% are saving for retirement through employer-sponsored plans, such as a 401(k) or similar plan, and/or outside the workplace, per the Transamerica survey. Gen Zers also started saving for retirement at age 19, much earlier than millennials (age 25), Gen Xers (30), and baby boomers (35).

According to the survey, Gen Z members estimate that they will need $500,000 by the time they retire to feel financially secure. However, only 32% have a backup plan if retirement comes unexpectedly.

Additionally, the 2022 Investopedia Financial Literacy Survey found that younger generations are factoring cryptocurrency into their retirement plans, so understanding cryptocurrency may be extremely important for children.

Financial Planning for Gen Z

Because Gen Zers are just moving into the workforce, many don't have a lot of experience with financial planning. They may know about employer-sponsored plans, but many don't know much about investment products outside of work, such as bank accounts (savings and money market), individual retirement accounts (IRAs), and certificates of deposit (CDs). In fact, according to the Transamerica survey, only 9% have a "great deal" of understanding of asset-allocation principles as they relate to retirement investing.

If you belong to Gen Z, here are four steps you can take to help you start down the road to a strong financial future.

$500,000

1. Get a comprehensive financial plan

Don't wait until you are well into your career to seek financial advice for your financial future. If you have a steady job and already are saving for retirement through an employer-sponsored plan, now is the time to seek input on how to maximize your savings. Learn about budgeting-there are great apps for that-and work to build an emergency fund to help you through tough times and keep you from ending up with serious credit card debt if, for example, your car breaks down.

2. Manage your debt

Even for 25-year-old (so the oldest) Gen Zers, purchasing a home may still be some years away. But it's not too soon to get your finances under control, which will help you get a mortgage when the time comes. A good credit rating and a low debt level will help both your current life (hiring managers sometimes check this) and your future ability to get everything from a car loan to, eventually, a mortgage. Work to get your student debt under control and keep credit card debt at a minimum. Learn about debt-to-income (DTI) ratio -a number that will eventually help you get a mortgage (mortgage lenders want your DTI to be 43% or less to qualify for a home loan, per Chase) but that right now can help you gain control of your finances.

Paying off credit cards can give your DTI a big boost, as can paying off any installment loans, such as car loans or student loans. If you're having trouble paying down your debt, a certified credit counselor can help you develop a plan of action.

3. Get a head start on college costs

As college tuition continues to increase, it's important to look for ways to pay for college that won't leave you drowning in debt. Though four-year colleges are considered a primary path to a college degree, there are other, more affordable options that could reduce how much you pay for college. Taking classes online, attending a community or junior college, or opting for a technical school all offer avenues to a secondary education that cost less than traditional four-year schools-or make the first part of a college education cheaper.

Taking time off to work full time and save up for tuition costs is another way to pay for college. You could also apply for the Federal Work-Study program, wherein you can work part time while attending school either part or full time.

Searching for scholarships and grants is another way to pay for college. Don't rely solely on your school's financial aid office to match you with possible scholarships or grants. There are several search engines available to help locate scholarships that you may qualify for to help pay tuition and college costs. These include Fastweb, Mometrix, StudentScholarships.org, Unigo, and Scholly.

4. Get a financial picture from parents

As you embark on adulthood and begin to take control of your own finances, talk with your parents regarding how to build a secure financial foundation. They can help answer any questions you may have about building up your savings, managing your credit card use, establishing a good credit history, and understanding employer-sponsored retirement accounts and benefits.

If your parents don't have a strong financial history, search for a local banker or financial advisor you can talk with regarding your financial issues and goals. And build your financial expertise by learning on your own.

Who Belongs to Generation Z (Gen Z)?

People born from 1997 to 2012 are considered to be part of Gen Z. That means that the eldest among them will reach a quarter-century of life in 2022.

Do Gen Zers Tend to Be Financially Secure?

Not yet. Fifty percent are making just enough to cover their basic living expenses, while 35% have student loans to pay off. One-third of them report having suffered financially due to the COVID-19 pandemic.

Are Gen Zers Saving for Retirement?

Gen Zers are the most retirement-conscious generation ever. A staggering 70% have some sort of retirement plan, whether employer-sponsored or self-administered. Gen Zers started saving for their retirement at age 19. Compare that to millennials (age 25), Gen Xers (age 30), and baby boomers (age 35). Gen Zers anticipate needing to save $500,000 for retirement, however, which may prove to be an underestimate given that financial experts tend to peg the number higher at as much as $2 million.

The Bottom Line

Gen Z's oldest members are beginning to move into their post-education years, which brings a wealth of new financial considerations with it. This includes planning for retirement, finding ways to pay for their college education, and setting the stage for a strong financial future, including buying a home. Having a firm financial plan in place can go a long way in helping them achieve their financial goals and provide financial security as they get older.

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Generation Z (Gen Z): Definition, Birth Years, and Demographics

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Born after 1996, the oldest members of Generation Z are just starting their careers and possibly their families. Saving for retirement is a priority.

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Major Consumer trends for the next decade

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Major Consumer trends for the next decade

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Esther Peterson was born in 1906, the year the United States enacted its first food inspection and safety laws. She has not only grown up with the consumer movement, but she has been an active participant, helping to shape, direct and guide. A native of Provo, she has held high-level consumer positions under three presidents: John F. Kennedy, Lyndon Johnson and Jimmy Carter. "Consumerism has been an important part of American political life for as long as I've lived," she says.

It is from this vantage point that she shared a look at both past accomplishments and future directions on consumerism at annual meetings of the American Council on Consumer Interests held recently in Baltimore.The Pure Food Law and the Meat Inspection Act, both written into law nearly 83 years ago, were revolutionary developments, says Peterson. "Yet, after more than four score years of consumer protection, consumers are still obliged to beware of many things without always knowing exactly how they are dangerous to our health, to the environment, to the planet, or, at the very least, to our bank accounts. Caveat emptor - let the buyer beware - may not rule the marketplace anymore, but it certainly hasn't abdicated all influence and gone into exile."

So, she says, there is still lot of work and many challenges for those involved in consumerism.

"Remember the story about the director of the U.S. Patent Office many years ago who suggested that his office be abolished because `everything worthwhile has already been invented?' We certainly don't have that complacent feeling in consumer protection."

Here's a look at some of the major directions Peterson feels consumerism will and must take as we move into the 1990s:

1. Keeping up with changing technology

We have learned over the years of consumer activism, says Peterson, that some laws that serve vital purposes when they are enacted often turn out to be less effective or even counterproductive as they age, that technology can make them obsolete. "We must campaign constantly to keep our legislation current with the changes in technology."

2. Continued focus on the "inconveniences of modern life"

Even though broader, more vital issues may grab headlines and demand increased attention, the more mundane matters will always be important to consumers - everything from deceptive advertising to faulty zippers.

3. More emphasis on global concerns

Peterson paid tribute to the late Colston Warne, founder of Consumers Union (publishers of Consumer Reports) and the International Organization of Consumers Unions (IOCU).

"IOCU has grown from an organization of six member groups in 1956 to 170 today, in 70 countries, all independent and all intent on making consumerism as important in their countries as it is in ours. Consumerism is now so pervasive an international influence that IOCU has memberships on every continent. In addition, consumer groups have been organized in such previously unlikely countries as Bulgaria, China, Cuba, Hungary, Poland and the Soviet Union.

Peterson now serves as a volunteer lobbyist at the United Nations for IOCU and notes that major global issues include safety of both products and the environment. The air we breathe, the water we drink, the chemicals put in - and pesticide residues left in - our foods, the radiation dangers, the mounting evidence of the greenhouse effect, and all the factors working toward the destruction of the ozone layer - these are global issues, she says.

4. More action on the state level.

There is a budget deficit.

For the past eight years, she says, there has been an administration where "we've been fighting a rear-guard action to preserve past gains rather than score any important new ones, where some of our best consumer laws have been undermined at the federal level by non-administration."

But, she says, the states have often moved in to fill the vacuum. An example is auto emission standards. Seven Northeastern states already have tougher state standards than anti-smog measures recently introduced by the Environmental Protection Agency. Those states will be given waivers by EPA, so that the tougher state standards can still be enforced.

"Uniform national standards are often better than a patchwork of differing state regulations, but a national standard should not be a lowest common denominator, an excuse for ineffectualness."

If the federal government does not do it, look for increased action on the state level.

5. Increased grass-roots involvement.

Hand-in-hand with the move toward state action is increased involvement on the grass-roots level. Don't underestimate the importance of what one person can do, says Peterson. "When I was in the White House Consumer Office or in the Labor Department as Assistant Secretary for Labor Standards, I could see and taste-truly savor-the consequences of a single letter to a single member of the House or Senate from an informed consumer with firsthand information on a matter of national concern."

That is important here--and internationally. "It was kind of grass-roots lobbying by consumer organizations in the Third World that greatly aided the adoption by the U.N. of its landmark Guidelines for Consumer Protection."

6. More single-issue coalitions.

Along these same lines, she says, consumers must remember that they are not alone in these battles, without allies. "As issues become more complicated, we need all kinds of help--techincal help, inside information, if you will. We have to form coalitions with other groups on specific issues on which we may share agreement.

"Sometimes we can find useful, if perhaps only temporary, allies where we may not expect them, in some sections of the business community. I have been impressed by the growing sense of social accountability among those executives who, for whatever good reasons--or self-interest-will work with consumerists toward worthwhile objectives. They're seeking profits; we're trying to protect or advance the well-being of people. Often these objectives seem to be mutually antagonistic, but from time to time they are not.

7. Emphasis on corporate responsibility

"There has to be a conscience!" says Peterson. "Through the United Nations as well as through IOCU initiatives, we are trying to convince all international businesses to recognize that if they do not help in achieving more fairness and justice to consumers, particularly in the poorer countries, they risk the kind of backlash businesses operating in countries other than their own deeply fear.

"I am assured that there are no longer any billboards in some Asian countries urging mothers to buy over-the-counter steroids on the promise these would make their children bigger and stronger. When I inquired about such ads, I was told this practice was stopped as a result of the outrage registered by organized consumer groups, and that such corporate irresponsibility is out of style."

Still, she says, she has talked with poor women in village stores in poor countries who were buying much-advertised tonics and vitamin preparations for their children with money they could better have spent on food.

"I've seen products no longer legally sellable in the United States being hawked abroad by American firms, and also by British, German, Dutch, French and other nations.

"If we hadn't become concerned about things like this before, we certainly have to be conscious of them now that the world is so close."

8. Continued focus on consumer education.

Of all consumer issues of the '90s, none may be more important than education.

"Ileave you with this friendly 'directive' from an old warrior in the consumer battles," says Peterson. "Use your skills as consumer educators, and your knowledge, to educate your fellow citizens on the need to confront our pressing consumer and environmental issues. It is only wishful thinking to believe they can just be shelved until some great tomorrow when 'things are better' or when the economy is 'more normal' or when people are less inclined to expect the good life on the cheap. Believe me, at 82, I have never seen that day occur!

"Meanwhile, I am greatly encouraged by the growing consumer movement that is becoming, throughout the world, a positive force for constructive change. Be part of it, and know you can and do make a difference."

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CONSUMERISM FOR THE '90'S: MAJOR TRENDS TO WATCH FOR

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Esther Peterson was born in 1906, the year the United States enacted its first food inspection and safety laws. She has not only grown up with the consumer movement, but she has been an active participant, helping to shape, direct and guide. A native of Provo, she has held high-level consumer...

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Music and gen z

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It's no secret that the influence of Gen Z is rapidly growing when it comes to culture, commerce, and everything in between. Whether they're deciding the latest social media trend or the hottest new artist, these young tastemakers are the ones setting the agenda. That's why each year, Spotify releases our Culture Next report to show how Gen Zs are shaping audio streaming and culture at large-and to explain what that means for advertisers on Spotify.

For the 2022 Culture Next report, we interviewed dozens of Gen Zs around the world-and surveyed thousands more-to identify the most influential audio trends that the world should take notice of. From there, we pulled together the five main takeaways (which you can find in our full report ). But we realized that these play into a bigger, overarching idea: Gen Z is blurring the line between creation and consumption.

Redefining the boundaries of creation

While this idea is unfolding in many ways, it's especially relevant to the relationship between creators and their fans. What was once a dynamic built around a one-way broadcast is now an interactive, two-way exchange.

On Spotify and Anchor, for example, the recent addition of polls and Q&As allow listeners to instantly weigh in on topics discussed in new episodes. And thanks to the emergence of platforms such as Discord, Twitch, and TikTok, Gen Z creators are hearing from fans as much as fans hear from creators. In fact, 47% of Gen Zs said they've joined a digital community, such as a subreddit or Discord, for fans of a particular creator.

And Gen Zs aren't just using these digital spaces to get the latest info on their favorite stars. When it comes to up-and-coming stars in particular, fans in these communities are using these platforms to hang out with other fans, as well as with creators themselves.

"We're all just kind of homies" is how 21-year-old singer-songwriter Dreamer Isioma put it.

Emotional-support podcasts

But Gen Z musical acts aren't the only ones forging these intimate bonds with their fans. The world of podcasting now has its own stable of celebrity hosts, and highly engaged fans are cultivating communities around them. And this interactivity isn't just serving as an effective way for creators to better reach their audiences-it's fundamentally changing the way listeners relate to the content they're consuming. Comparing Q1 2022 to the year prior, we've seen an approximate 40% increase in average podcast listenership among Gen Zs on Spotify.

And podcasts in particular have become more than just entertainment for Gen Z. They've become a form of content Gen Z can turn to for perspective and understanding as they tackle the increasingly complex issues they're facing in their lives. Gen Z creators are finding themselves surrounded by a loyal base of fans who are using these podcasts as a form of support. Mental Health, Gen Z's top podcast genre, experienced a roughly 62% increase in streams among Gen Zs in Q1 2022 compared to the year before.

Keeping it real

To better understand what makes podcasting such an appealing format for Gen Z to process ideas and topics that might be controversial (or even taboo), For the Record sat down with Kayla Suarez, cohost of Teenager Therapy , to hear her insights on the roles that honesty, authenticity, and vulnerability play in building lasting audiences and communities among Gen Z listeners.

One of the defining traits of Gen Z content creators seems to be how interactive they are with their community-much more so than previous generations. In your eyes, what has led to this dynamic?

I think with Gen Z, there is such a sense of community, especially online. People can just find groups of people, or podcasts, or even brands that have similar interests. With Teenager Therapy , we're advocating for mental health and being authentic and vulnerable. And with that comes being honest with our audience and establishing that foundation of trust and honesty. We want to get to know them and then get them to trust us and know that we're not experts or therapists, but we are going through the same experiences as them.

I think Gen Z really values that because I think nowadays it's easy to see if a brand is just doing something just as a facade or if they're being really honest. And so I think if, you know, a brand or company is just transparent about that, it goes a long way.

We noticed that Teenager Therapy was created with Anchor. Were there any features that attracted you to it, or are there any ways you use it to engage your fans?

Gael was the one who figured that out, but I remember him mentioning that Anchor seemed to be the most efficient way to upload a podcast. It also didn't cost anything, which was a big factor. And recently, Spotify put an option to ask questions or put polls at the end, which we've been using. For example, the last time we were talking about cheating in relationships, we put a question: "Do you consider this to be cheating or not cheating?" It's just little ways to engage our listeners.

What is it about podcasting as a format that allows for these conversations to unfold in an honest way?

Our audience is very open minded, and they've built a comfortable space for us to talk about topics that need to be discussed, even if they're uncomfortable. We always just advocate for being respectful toward each other, regardless of differing viewpoints. I think just acknowledging that not everybody's going to be correct and encouraging people to have an open mind play a huge role.

I also feel like the fans are very comfortable with this form of media. The hosts are right in your ear, and it feels like you're just in the conversation with them in a very safe environment. I feel like that really resonates with Gen Z because a lot of us do feel lonely and stressed at times, and we don't always feel like we can go to certain people for that.

Going back to the idea of how Gen Z creators build relationships with their communities, do you have any favorite ways of interacting with your listeners?

We use platforms such as Instagram and Discord to ask our listeners questions. And Spotify Live is one of my personal favorite things to use because it brings together our listeners in the same room. It's a very intimate setting where it feels like I can basically just say anything. And for the most part, it's a lot of our regular listeners who come on stage to talk about their problems. It's really nice to be able to put a voice to our listeners' names, especially if they've been there for so long.

Have there been any episodes or moments from Teenager Therapy that felt particularly impactful?

One of the more impactful episodes that I remember was when I was about to start college. I was talking about some of the feelings of guilt I was experiencing over leaving home, especially being from a first-generation family. I wasn't sure how people would react to it because I hadn't really found a group of people that had really shared that feeling.

It ended up getting a lot of attention from a lot of people feeling the same way. It felt nice knowing I wasn't the only one struggling with the transition to college. We even had people giving advice, which was really impactful for me because it was something that I had been struggling with for a long time and still struggle with a little bit.

Take a deeper dive

While the evolving boundaries between creator and consumer is definitely a theme to keep an eye on when it comes to Gen Z, it's just one part of the Culture Next 2022 report.

We've also dug up insights and findings on how Gen Zs use audio streaming to help shape their identities, how they're embracing nostalgia in their own unique way, and how they're using Spotify to express themselves. And while this report was created with advertisers in mind, we think everyone can learn a few things from these trends.
To get the entire scoop on how this rising generation is transforming culture in real time, be sure to check out the full Culture Next report .

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How Gen Z Is Using Audio To Hear and Be Heard - Spotify

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It's no secret that the influence of Gen Z is rapidly growing when it comes to culture, commerce, and everything in between. Whether they're deciding the latest social media trend or the hottest new artist, these young tastemakers are the ones setting the agenda. That's why each year, Spotify releases our Culture Next report to...

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Circular retail destinations are growing in prevalence as retailers seek to align with consumer desire for sustainable living. In the US, the secondhand market is set to reach $77bn within the next five years and people are looking for ways to ensure the longevity of their purchases.
"Providing a space where shoppers can try on, experience and purchase pre-loved items not only facilitates circularity, but allows brands to further educate consumers about what they're buying and how to look after it so it can be resold again," says Laura Saunter, senior strategist at WGSN Insight. "Physical resale locations also offer a community-led place for customers to meet, swap or resell clothing, or provide a route for them to be returned for recycling."

In the latest Sustainability Bulletin, we explore three key strategies that brands are using to make circular retail more engaging:

Circular retail hubs

Repair is at the forefront of US fashion brand Madewell and online resale platform Threadup's pop-up, A Circular Store in New York. Offering a full assortment of pre-worn clothing, it features a mending station and workshops on upcycling by Patagonia's Worn Wear team.

IKEA also empowers the shopper to repair with a new business strategy that focuses on details such as hardware and joinery, designing items so parts can be easily replaced if damaged. Its As Is online marketplace, launching next year, will allow customers to browse and reserve used items online to later collect in-store.

Madewell x Threadup A Circular Store pop-up

Removing bias

Japanese apparel company Rename is taking the bias out of secondhand by removing original tags from garments and replacing them with its own. The idea is to allow customers to focus on the quality of the clothing instead of the popularity of the brands.

Making it simple

Ease of resell is the driving force behind Australian fashion retailer The Iconic's new one-click functionality on its website allows customers to resell, rent or recycle pre-loved items conveniently.
WGSN subscribers can read the rest of this month's key sustainability stories in the new Sustainability Bulletin: December 2021, or catch up on circular retail strategies and the future of rental homeware on the blog.

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Circular retail destinations empower consumers to shop differently

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Circular retail destinations are growing in prevalence as retailers seek to align with consumer desire for sustainable living. In the US, the secondhand market is set to reach $77bn within the next five years and people are looking for ways to ensure the longevity of their purchases.

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2. Aesthetics trends suggest need for escapism

Over the last few years an increasing number of people are using the word 'aesthetic' in a similar way they might use 'subculture'. In this sense, aesthetics mainly refer to online trends based on an amalgamation of fashion, hobbies, music, and other interests into a single concept.

These trends tend to invoke their own kind of atmosphere or 'mood' that's imparted into content posted on platforms like Tumblr and TikTok. Importantly, they're both a basis for a personal identity and look. For example, someone could refer to themselves by an aesthetic, or produce art that falls under an aesthetic.

We don't have time to run through every aesthetic on the internet but we can focus in on one type of niche: the -cores.

These blended words combine the 'core' from 'hardcore' with something that is associted with the aesthetic. Love cauldrons and black cats? Let me induct you into the coven of withcore. More interested in the surreal? Weirdcore is for you. Prefer a grubbier approach to life? Have a look at goblincore.

The volume of mentions of these -cores has been on the up since 2016, eventually skyrocketing in 2020. Numbers then decreased in 2021, but not by much, remaining far above pre-2020 levels.

The communities that surround these aesthetics are usually very dedicated to the cause. Fashion leaders would be wise to tap into these groups and find inspiration in whatever -core suits their audiences.

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The Big Fashion Industry Trends for 2022

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Over the last few years an increasing number of people are using the word 'aesthetic' in a similar way they might use 'subculture'. In this sense, aesthetics mainly refer to online trends based on an amalgamation of fashion, hobbies, music, and other interests into a single concept.

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With clouds brewing on the horizon, recent years might provide a sense of how the fashion industry will ride out 2024.

The industry has shown its resilience in recent years, having achieved more than double the levels of economic profit in 2022 than in all the years between 2010 and 2020 except for one, yet by 2023 the industry was facing challenges that were both persistent and deepening. On a regional basis, Europe and the US experienced slow growth throughout the year, while China's initially strong performance decelerated in the second half. Though the picture for luxury was more positive than the rest of the market in the first half of 2023, consumers' appetite to shop for fashion was diminishing across the board by the second half, leading to slowing sales and uneven performance. Even luxury began to feel the heat after a lengthy period of growth that benefitted the entire industry.

Looking to 2024, fashion leaders are anticipating further headwinds and are uncertain about prospects for the year ahead.

Looking to 2024, fashion leaders are anticipating further headwinds and are uncertain about prospects for the year ahead. Indeed, the word most often mentioned by executives in the BoF-McKinsey State of Fashion 2024 Executive Survey was "uncertainty." Consumer confidence will remain fragile, although for different reasons in key markets of the US, Europe and China. As a whole, the fashion industry is predicted to achieve year-on-year retail sales growth of between 2 percent and 4 percent in 2024.

Aside from economic challenges, one pressure point that cannot be ignored in the year ahead is the climate crisis. After numerous extreme weather events in 2023, leading companies are likely to bolster their resilience to climate impacts in 2024. Inaction is no longer an option: extreme climate events are already placing the lives and livelihoods of fashion workers in danger and could put at risk an estimated $65 billion of apparel exports by 2030.

How should fashion companies prepare? With cost-saving tactics mostly exhausted, the focus is expected to be on growing sales, underpinned by new pricing and promotion strategies, rather than volume increases - across the industry, net intent to raise prices is more than 50 percent, according to the BoF-McKinsey Executive Survey. Cost pressures are predicted to abate, with less than 20 percent of executives expecting the cost of goods sold and selling, general and administrative expenses to rise more than 5 percent.

In 2024, the industry is expected to bear the impact of fluctuations in demand that have punctuated the past few years. It is during such times that supply chains experience a "bullwhip effect," in which small sales variations cause high levels of volatility, leading to factory underutilisation, layoffs and delayed infrastructure investments. To navigate these challenges, fashion brands should consider investing in developing more transparent and collaborative relationships with their suppliers.

Meanwhile, fashion supply chains could be under increased scrutiny amid incoming regulations on several fronts. This includes new sustainability rules in the European Union and the US, which will require brands and manufacturers to double down on initiatives aimed at cutting greenhouse gas emissions and waste, while building business models that protect and preserve natural resources. The fast-fashion industry, which has already been buffeted by a cohort of companies like Shein and Temu that are not only faster and cheaper but also fuelled by big marketing budgets, may be particularly pressured by these new regulations.

When seeking to identify growth levers, one area that respondents to the BoF-McKinsey Executive Survey said they are homing in on is generative AI, where there is significant potential in creativity-focused use cases in design and product development. Some 73 percent of executives expect to prioritise gen AI in 2024, but many may face a talent gap, given that just 5 percent said they are ready to make best use of the technology.

Marketing is another area of focus. After years of relying on performance marketing, brand marketing may increasingly take centre stage in the year ahead, with 71 percent of executives planning to spend more on brand marketing than in 2023 in a bid to cultivate emotional connections with customers. At the same time, brands may find consumers are more demanding when it comes to authenticity and relatability, leading to a shift towards influencers who are more quirky, vulnerable and less-polished. Forward-looking companies should consider leaning into this new wave of content creators to enhance their brand stories.

As consumers travel with renewed enthusiasm in the year ahead, fashion companies may need to revamp how they engage with consumers who are shopping abroad. For the first time since the Covid-19 pandemic, travel levels in 2024 are projected to exceed those in 2019. Chinese travel to overseas destinations is expected to reach between 70 percent and 100 percent of pre-pandemic levels in 2024. As these shoppers return, there is a growing desire for brand experiences and traditional shopping trips in both tourist destinations and second-tier cities. Alongside a return to travel, there is also a shift to spending more time outdoors, which will likely drive up demand for outdoor wear in 2024, further blurring the lines between functionality and style.

All told, executives are bracing for a strategically challenging year ahead. Fashion leaders need to plan carefully for a range of different scenarios, become better equipped to manage pricing and get ready to accelerate when the storm begins to clear.

The 10 fashion industry themes that will set the agenda in 2024:
1. Fragmented Future
In 2024, the global economic outlook will likely continue to be unsettled. As new and ongoing financial, geopolitical and other challenges weigh heavily on consumer confidence, fashion markets in the US, Europe and China are facing differing headwinds, requiring suppliers, brands and retailers to bolster contingency planning, among other measures.
2. Climate Urgency
The frequency and intensity of extreme weather-related events in 2023 mean the climate crisis has become even more visible, leaving the fashion value chain especially vulnerable. With climate risks worsening across continents, the fashion industry can't hold off any longer on building resilience into its supply chains and helping to abate emissions.
3. Vacation Mode
Consumers are gearing up for the biggest year of travel since before the pandemic. But a shift in values means travellers have a different set of expectations, even as shopping remains high on the agenda. Brands and retailers should consider refreshing distribution and category strategies to meet travellers wherever they are.
4. The New Face of Influence
It's time for brand marketers to update their influencer playbooks. A new guard of creative personalities is gaining brands' attention, winning trust and fandom among key audiences. Working with these personalities in 2024 will require a different type of partnership, an emphasis on video and a willingness to relinquish a degree of creative control.
5. Outdoors Reinvented
Technical outdoor wear has been propelled by consumers' post-pandemic embrace of healthier lifestyles as well as "gorpcore," and is likely to accelerate even further in 2024. More outdoor brands will likely launch lifestyle collections while lifestyle brands embed technical elements into collections, further blurring the lines between functionality and style.
6. Gen AI's Creative Crossroad
After generative AI's breakout year in 2023, use cases are emerging across creative industries, including fashion. Capturing the value of this transformative technology in 2024 will require fashion players to look beyond automation and explore its potential to augment the work of human creatives.
7. Fast Fashion's Power Plays
Fast-fashion competition will likely become even fiercer in the year ahead. Challengers, led by Shein and Temu, are changing tactics around price, customer experience and speed. Success for disruptors and incumbents will likely hinge on their ability to adapt to evolving consumer preferences, while navigating regulations that may impact the industry.
8. All Eyes on Brand
Brand marketing will likely be back in the limelight in the year ahead as the fashion industry confronts a shifting landscape in which performance marketing no longer reigns. Consumers' emotional connections to brands will likely be critical as fashion marketers reorientate their playbooks to emphasise long-term brand-building strategies.
9. Sustainability Rules
The era of the fashion industry self-regulating sustainability is drawing to a close around the world. Across jurisdictions, new rules could have a widespread impact on both consumers and fashion players. Brands and manufacturers need to revamp business models to align with the changes ahead.
10. Bullwhip Snaps Back
Changes in consumer demand have resulted in the "bullwhip effect," where cuts to orders increase in magnitude at different parts of a supply chain, putting pressure on fashion's suppliers. Now, if supply is to keep pace with anticipated renewed demand, brands and retailers should consider focusing on transparency and bolstering strategic partnerships.

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The State of Fashion 2024: Riding Out the Storm

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The eighth annual State of Fashion report by The Business of Fashion and McKinsey & Company reveals an industry navigating deep uncertainty. Download the full report to understand the 10 themes that will define the industry and the opportunities for growth in the year ahead.

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Picture this: The year is 2040. You've just disembarked from a hypersonic flight from New York to London, a mere two-hour journey, and then take an air urban mobility "drone" to beat London's rush hour traffic to be home in 20 minutes. While in the air, you streamed a holographic conference in real time, thanks to a seamless fusion of cellular and satellite networks made possible by 6G. This isn't a visionary's dream. It's a glimpse into the imminent future. My team of foresight specialists at MarketsandMarkets has put together the top Mega Trends that will shape our future. The below Trends wheel summarises these trends across Horizon 1, 2, and 3.
The Mega Trends Decoded
The Hyper-Connected World: Each generation of technology has revolutionized how we connect and interact. 3G bought data, 4G video, and 5G provide B2B use cases like machine-to-machine communication, providing us with Connected stadiums, factories, and cars. But 6G? The leap from 5G to 6G promises a colossal leap, bringing isolated entities like homes, cars, and cities into a unified connected living ecosystem. Combine this with Space Log Jam (we will launch 20k satellites in this decade, and this will provide high-speed broadband, possibly 5G speeds in the future through satellites and precise location-based services), and we will be connected everywhere, anywhere, anytime, making it a hyper-connected world that will trigger new disruptive business models. The future, in essence, will echo a constant connection. In such a world, being disconnected might be the only true luxury.

Dawn of Technology Singularity: This trend charts the AI evolution from narrow AI to the dawn of singularity, where intelligent and powerful technologies could radically transform our reality with unpredictable results. With the advent of Generative AI, we have now entered the General AI era. There are currently no real-world examples of Artificial SuperIntelligence (ASI) where AI reaches human levels of consciousness, intelligence, and capabilities. A key sub-trend of growth of AI and the hyper-connected world will be us entering what we term an Autonomous world - a $10tr opportunity. By 2035, we will have the advent of new computing science like Neuromorphic Computing, DNA computing, and Quantum computing entering our worlds, and they will challenge Moore's law further and accelerate the shift from General AI to Super AI, meaning machines will become more intelligent than humans thereby achieving Technology Singularity.

Industry 5.0 - The Symbiotic Era: The fourth industrial revolution was about applying emerging technologies that are connected, interactive, and intuitive. The end objective is to derive the maximum cost and time efficiency. The European Union describes Industry 5.0 as providing "a vision of an industry that aims beyond efficiency and productivity as the sole goals and reinforces the role and the contribution of industry to society." In the foresighting world, these mega-developments like Industrial revolution profoundly impact our Society. The 1st industrial revolution shifted us from a farming to a manufacturing economy and brought mega trends like urbanization. Similarly, with Industry 5.0, there will be a profund impact to our society at large, where human-robot coworking will reframe the fundamentals of jobs, skills, and global sourcing.

The Energy Transition: Future of Energy will be decarbonized, decentralized, digital and democratized, and possibly one day energy will be free.Decarbonization refers to the shift from fossil fuels to renewable energy sources. Decentralization in the Energy sector refers to the growth of smaller on-site renewable power generation solutions. Digitalization refers to the shift from analog to digital solutions in the energy infrastructure like smart meters and smart grids to real-time management and processing of billions of data points to automate decision-making to allow integration of diverse power generation sources. Democratization refers to localization of Energy and harnessing the local nature to develop the best energy mix for that country/region and making energy accessible to all. We at MarketsandMarkets believe that one day, in the 21st century, energy could be free, and it will usher in new disruptive business models and opportunities that are unique and very different from what we see in the world today. That could mean future fuels like Green hydrogen will be abundant if the solar or wind power to generate it is free.

Innovation to zero: This is my favorite trend and is close to my heart. Innovating to Zero is not a mega-trend but a mega vision-a vision of a picture-perfect world, a desire for perfection in our Society, businesses, and every product and service we consume. It is a zero-concept world with zero crimes, zero diseases, zero hunger, zero deaths, carbon-neutral buildings, cities, and net zero nations. The Vision Zero World is all-encompassing today, embracing manufacturing, retail, cities, individuals, corporates, governments, work, home, leisure, products, performance, and processes. It is about a philosophy that pivots around safe, smart, and sustainable practices. Beyond achieving carbon neutrality and net zero, it is about consciously building a better world-free of errors, defects, and negatives.

Future of Mobility: The future of travel isn't just faster but smarter. Imagine a world free from transport woes, where multi-modal, integrated systems offer real-time dynamic guidance, culminating in almost instantaneous journeys. The future of mobility will be multi-modal, integrated, and door-to-door, combining multiple energy-efficient transport modes with mobility-as-a-service platform offerings. Mobility will be an integral part of a zero-vision world where the three evils of transport-congestion, pollution, and accidents-are all eliminated. We will have the fourth and the fifth dimensions of travel introduced with sub-surface and super-surface travel with hypersonic speeds a reality (imagine London to New York in two hours). The scenario will lead us to a state of mobility that takes us closer to transcending time and providing instantaneous mobility.

Future Society and Urbanization: While the global population is aging, some nations in Asia and Africa have young, fast-growing populations. The prospective customers will be more diverse in age, sex, culture, and wealth and require personalized and customized services. Increasing urbanization rates in small and intermediate-sized cities, particularly in Africa and Asia, will have important implications for new markets, products, and services. Suburbanization will grow in the West, but the East will see a growth of Mega regions and urbanization of cities hundreds of miles apart, giving rise to gargantuan corridors like the 1350 km Delhi Mumbai Industrial corridor.

Economic powerhouses of the future - Baby-bust economies: With growing populations and a youth demographic dividend, many emerging economies will outpace advanced economies in growth. In fact, by 2040, today's developing economies will account for more than 65% of global output. We believe that countries with a 100M+ population have the potential to be trillion-dollar economies by 2040. Thereby, future growth will be driven by what we term 'baby-bust economies.' In this changing economic tapestry, populas nations like China, India, Indonesia, Brazil, Mexico, Saudi Arabia and Nigeria could emerge as the ultimate and top 15 economic powerhouses by 2050. Changing economic dynamics also pose challenges for businesses. For example, a lingering thought remains as we draw this vision to a close. With global population growth potentially plateauing and the ongoing climate crisis, the grand question is: Could we see the end of growth as we know it? The answer may lie with the emerging middle class of developing countries. Their aspirations, dreams, and economic thrust could carve out a new 'Middle Earth.' A world where their ambitions drive the global GDP growth, shaping a future that's as unpredictable as it's exhilarating.

In this grand dance of disruption and innovation, one truth stands tall-we're on the cusp of a revolution that promises to be extraordinary. So, brace yourselves: the best is yet to come!

If you are interested to learn more about Foresighting, reach out to the Markets and Markets Foresighting team.

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The Mega Trends That Will Shape Our Future World

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The Mega Trends Decoded: Hyper Connected world, Autonomous World, Marketplace everywhere, Future Society and other Mega Trends that will shape our future world

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The fashion industry is a dynamic and ever-evolving sector that constantly adapts to the changing preferences and demands of consumers. As we look forward to the next five years, it is essential to explore the potential trends, challenges, and innovations that will shape the industry's future. This article delves into the exciting possibilities and transformative forces that are likely to impact the fashion landscape.

1. A Fashion-Forward Future: Overview of the Next 5 Years
The fashion industry is poised for a transformative journey over the next five years. With evolving consumer behaviours and technological advancements, the industry will witness significant shifts in design, production, and marketing strategies. Embracing sustainability, innovation, and inclusivity will be key to staying relevant in a competitive market.

2. Sustainable Fashion: Paving the Path to Environmental Responsibility
As environmental concerns intensify, sustainable fashion will gain prominence. Brands will adopt eco-friendly materials, ethical sourcing, and circular practices to minimise waste and reduce their carbon footprint. Consumers will demand transparency and ethical accountability, prompting the industry to adopt greener practices.

3. Technology Integration: Transforming the Shopping Experience
The fusion of fashion and technology will revolutionise how consumers shop. Augmented reality, virtual reality, and AI-powered chatbots will offer personalised shopping experiences. Virtual try-ons and digital showrooms will become common, bridging the gap between online and offline shopping.

4. Personalisation and Customisation: Catering to Individual Tastes
Consumers crave uniqueness, and brands will respond with personalised offerings. AI-driven algorithms will analyse customer data, leading to tailored recommendations and customised products, reflecting individual styles and preferences.

5. The Rise of Influencer Marketing: Fashion in the Social Media Age
Influencers will continue to wield substantial influence over consumer choices. Social media platforms will be vital for fashion brands to engage with their audience and leverage influencer partnerships to enhance brand visibility and trust. Many fashion brands like Kanchan Fashion, Meesho and Ajio are using influencer marketing regularly to gain trust of the consumers.

6. Inclusive Fashion: Embracing Diversity and Body Positivity
The fashion industry will embrace diversity in all its forms, representing various body types, ethnicities, and cultures. Inclusive marketing campaigns and diverse fashion lines will cater to a broader audience, empowering consumers to express their identities confidently.

7. Artificial Intelligence in Fashion: From Design to Supply Chain
AI will permeate every aspect of the fashion industry, from designing clothes to streamlining supply chains. AI-powered algorithms will optimise inventory management, reduce production costs, and predict fashion trends, giving brands a competitive edge.

8. Augmented Reality (AR) and Virtual Try-Ons: Redefining Retail
Virtual try-ons using AR will become integral to the online shopping experience, allowing consumers to visualise how clothing looks on them before making a purchase. This innovation will reduce returns and enhance customer satisfaction.

9. Fast Fashion vs. Slow Fashion: The Battle for Sustainability
The debate between fast fashion and slow fashion will intensify. While fast fashion meets immediate demands, slow fashion emphasises quality, durability, and sustainability. Consumers will increasingly favour conscious choices and timeless pieces.

10. Fashion on the Go: The Growing Importance of Mobile Commerce
Mobile commerce will continue to thrive, as smartphones become central to the shopping process. Fashion brands will optimise their websites for mobile, offering seamless browsing and quick purchasing options.

11. Blockchain in Fashion: Enhancing Transparency and Authenticity
Blockchain technology will enhance transparency within the fashion supply chain. Consumers will have access to immutable records of a product's journey, ensuring authenticity and ethical sourcing.

12. Redefining Luxury: New Meanings in the Modern Era
Luxury fashion will redefine itself in response to shifting consumer values. Beyond material wealth, luxury will embrace sustainability, craftsmanship, and meaningful experiences.

13. Fashion and Health: The Emergence of Wellness Apparel
Health and wellness will influence fashion trends, leading to the rise of "wellness apparel" that combines comfort, functionality, and style. Athleizure wear and sustainable activewear will see increased demand.

14. Globalisation and Emerging Markets: Fashion's New Frontier
Emerging markets will play a vital role in shaping the future of fashion. Brands will cater to diverse tastes and preferences, embracing local culture while expanding their global presence.

15. Fashion Education and Talent: Nurturing Creativity for the Future
Education will be instrumental in fostering new talent and creativity within the fashion industry. Institutions will adapt their curriculum to address sustainable practices and technological advancements.

Conclusion
The fashion industry is on the brink of an exciting evolution over the next five years. Sustainability, technology integration, inclusivity, and innovation will be the driving forces shaping the industry's landscape. By embracing these changes, fashion brands can thrive and remain relevant in an ever-changing market.

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Fashion Industry in the next 5 years: Trends, challenges, and innovations

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Fashion industry's 5-year future: Sustainable, tech-driven, inclusive, and innovative trends shaping consumer preferences.

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Pew Research Center's Social & Demographic Trends Project

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One-in-ten eligible voters in the 2020 electorate will be part of a new generation of Americans - Generation Z. Born after 1996, most members of this generation are not yet old enough to vote, but as the oldest among them turn 23 this year, roughly 24 million will have the opportunity to cast a ballot in November. And their political clout will continue to grow steadily in the coming years, as more and more of them reach voting age.

Unlike the Millennials - who came of age during the Great Recession - this new generation was in line to inherit a strong economy with record-low unemployment. That has all changed now, as COVID-19 has reshaped the country's social, political and economic landscape. Instead of looking ahead to a world of opportunities, Gen Z now peers into an uncertain future.

There are already signs that the oldest Gen Zers have been particularly hard hit in the early weeks and months of the coronavirus crisis. In a March 2020 Pew Research Center survey, half of the oldest Gen Zers (ages 18 to 23) reported that they or someone in their household had lost a job or taken a cut in pay because of the outbreak. This was significantly higher than the shares of Millennials (40%), Gen Xers (36%) and Baby Boomers (25%) who said the same. In addition, an analysis of jobs data showed that young workers were particularly vulnerable to job loss before the coronavirus outbreak, as they were overrepresented in high-risk service sector industries.

Aside from the unique set of circumstances in which Gen Z is approaching adulthood, what do we know about this new generation? We know it's different from previous generations in some important ways, but similar in many ways to the Millennial generation that came before it. Members of Gen Z are more racially and ethnically diverse than any previous generation, and they are on track to be the most well-educated generation yet. They are also digital natives who have little or no memory of the world as it existed before smartphones.

Still, when it comes to their views on key social and policy issues, they look very much like Millennials. Pew Research Center surveys conducted in the fall of 2018 (more than a year before the coronavirus outbreak) among Americans ages 13 and older found that, similar to Millennials, Gen Zers are progressive and pro-government, most see the country's growing racial and ethnic diversity as a good thing, and they're less likely than older generations to see the United States as superior to other nations.

A look at how Gen Z voters view the Trump presidency provides further insight into their political beliefs. A Pew Research Center survey conducted in January of this year found that about a quarter of registered voters ages 18 to 23 (22%) approved of how Donald Trump is handling his job as president, while about three-quarters disapproved (77%). Millennial voters were only slightly more likely to approve of Trump (32%) while 42% of Gen X voters, 48% of Baby Boomers and 57% of those in the Silent Generation approved of the job he's doing as president.

Gen Z is more racially and ethnically diverse than previous generations

Generation Z represents the leading edge of the country's changing racial and ethnic makeup. A bare majority (52%) are non-Hispanic white - significantly smaller than the share of Millennials who were non-Hispanic white in 2002 (61%). One-in-four Gen Zers are Hispanic, 14% are black, 6% are Asian and 5% are some other race or two or more races.

Gen Zers are slightly less likely than Millennials to be immigrants: 6% were born outside of the U.S., compared with 7% of Millennials at the same age. But they are more likely to be the children of immigrants: 22% of Gen Zers have at least one immigrant parent (compared with 14% of Millennials). Even as immigration flows into the U.S. have diminished in recent years, new immigrants will join the ranks of Gen Z in the years to come. As a result, this generation is projected to become majority nonwhite by 2026, according to Census Bureau projections.

In some regions of the U.S., Gen Z has already crossed this threshold. In the West, only 40% of Gen Zers are non-Hispanic white. Just as many are Hispanic, while 4% are black, 10% are Asian and 6% are some other race. In the South, 46% of Gen Zers are non-Hispanic white. Minority representation is lowest in the Midwest, where more than two-thirds of Gen Zers (68%) are non-Hispanic white.

Gen Z on track to be the best-educated generation yet

A look at older members of Generation Z suggests they are on a somewhat different educational trajectory than the generations that came before them. They are less likely to drop out of high school and more likely to be enrolled in college. Among 18- to 21-year-olds no longer in high school in 2018, 57% were enrolled in a two-year or four-year college. This compares with 52% among Millennials in 2003 and 43% among members of Gen X in 1987.

These changing educational patterns are tied to changes in immigration especially among Hispanics. Gen Z Hispanics are less likely than Millennial Hispanics to be immigrants, and previous research has shown that second-generation Hispanic youth are less likely to drop out of high school and more likely to attend college than foreign-born Hispanic youth.

Gen Zers are also more likely to have a college-educated parent than are previous generations of young people. In 2019, 44% of Gen Zers ages 7 to 17 were living with a parent who had a bachelor's degree or more education, compared with 33% of Millennials when they were the same age. Both of these trends reflect the overall trend toward more Americans pursuing higher education.

Perhaps because they are more likely to be engaged in educational endeavors, Gen Zers are less likely to be working than previous generations when they were teens and young adults. Only 18% of Gen Z teens (ages 15 to 17) were employed in 2018, compared with 27% of Millennial teens in 2002 and 41% of Gen Xers in 1986. And among young adults ages 18 to 22, while 62% of Gen Zers were employed in 2018, higher shares of Millennials (71%) and Gen Xers (79%) were working when they were a comparable age.

Gen Zers and Millennials have similar viewpoints on many major issues of the day

The views of Gen Z mirror those of Millennials in many ways. Still, survey data collected in 2018 (well before the coronavirus outbreak) shows that there are places where this younger generation stands out as having a somewhat different outlook.

For example, members of Gen Z are more likely than older generations to look to government to solve problems, rather than businesses and individuals. Fully seven-in-ten Gen Zers say the government should do more to solve problems, while 29% say government is doing too many things better left to businesses and individuals. A somewhat smaller share of Millennials (64%) say government should do more to solve problems, and this view is even less prevalent among older generations (53% of Gen Xers, 49% of Boomers and 39% of Silents).

For the most part, however, Gen Zers and Millennials share similar views on issues facing the country. These younger generations are more likely than their older counterparts to say the earth is getting warmer due to human activity: 54% of Gen Z and 56% of Millennials say this, compared with smaller shares of Gen Xers, Boomers and Silents (48%, 45% and 38%, respectively).

When it comes to race relations, Gen Zers and Millennials are about equally likely to say that blacks are treated less fairly than whites in this country. Roughly two-thirds of Gen Zers and Millennials say this, compared with about half of Gen Xers and Boomers and smaller shares among the Silent Generation.

Younger generations also share a different view of the U.S. relative to other countries in the world. Gen Zers (14%) and Millennials (13%) are less likely than Gen Xers (20%), Boomers (30%) or Silents (45%) to say the U.S. is better than all other countries. Still, pluralities of every generation except the Silent Generation say the U.S. is one of the best countries in the world along with some others.

Within the GOP, Gen Zers have sharp differences with their elders

Among Republicans and those who lean to the Republican Party, there are striking differences between Generation Z and older generations on social and political issues. In their views on race, Gen Z Republicans are more likely than older generations of Republicans to say blacks are treated less fairly than whites in the U.S. today. Fully 43% of Republican Gen Zers say this, compared with 30% of Millennial Republicans and roughly two-in-ten Gen X, Boomer and Silent Generation Republicans. Views are much more consistent across generations among Democrats and Democratic leaners.

Similarly, the youngest Republicans stand out in their views on the role of government and the causes of climate change. Gen Z Republicans are much more likely than older generations of Republicans to desire an increased government role in solving problems. About half (52%) of Republican Gen Zers say government should do more, compared with 38% of Millennials, 29% of Gen Xers and even smaller shares among older generations. And the youngest Republicans are less likely than their older counterparts to attribute the earth's warming temperatures to natural patterns, as opposed to human activity (18% of Gen Z Republicans say this, compared with three-in-ten or more among older generations of Republicans).

Overall, members of Gen Z look similar to Millennials in their political preferences, particularly when it comes to the upcoming 2020 election. Among registered voters, a January Pew Research Center survey found that 61% of Gen Z voters (ages 18 to 23) said they were definitely or probably going to vote for the Democratic candidate for president in the 2020 election, while about a quarter (22%) said they were planning to vote for Trump. Millennial voters, similarly, were much more likely to say they plan to support a Democrat in November than Trump (58% vs. 25%). Larger shares of Gen X voters (37%), Boomers (44%) and Silents (53%) said they plan to support President Trump.

Younger generations see family, societal change as a good thing

Across a number of measures, Gen Zers and Millennials stand out from older generations in their views of family and societal change. Roughly half of Gen Zers (48%) and Millennials (47%) say gay and lesbian couples being allowed to marry is a good thing for our society. By comparison, only one-third of Gen Xers and about one-quarter of Boomers (27%) say this is a good thing. Pluralities of Boomers and Gen Xers say it doesn't make a difference. Members of the Silent Generation are the most likely to view this as a bad thing for society.

There is a similar pattern in views of people of different races marrying each other, with larger shares of Millennials and Gen Zers saying this is a good thing for our society, compared with older generations. Very few across generations say this is a bad thing for society.

Gen Zers and Millennials are less likely than older generations to say that single women raising children on their own is a bad thing for society. Still, relatively few in both generations say this is a good thing for society, while about half say it doesn't make much difference (roughly similar to the shares among older generations).

When it comes to their own home life, the experiences of Gen Z reflect, in part, broad trends that have reshaped the American family in recent decades. According to a Pew Research Center analysis of Census Bureau data, about three-in-ten (29%) live in a household with an unmarried parent while 66% live with two married parents. A roughly comparable share of Millennials (69%) lived with two married parents at a similar age, but the shares among Gen Xers and Boomers were significantly larger (72% and 86%). Of those Gen Zers who are living with two married parents, in most cases both of those parents are in the labor force (64%). This compares with a slightly higher share of Millennials who were living with two parents at a comparable age (66% had two parents in the labor force) and a slightly lower share of Gen Xers (61%).

Generations differ in their familiarity and comfort with using gender-neutral pronouns

Ideas about gender identity are rapidly changing in the U.S., and Gen Z is at the front end of those changes. Gen Zers are much more likely than those in older generations to say they personally know someone who prefers to go by gender-neutral pronouns, with 35% saying so, compared with 25% of Millennials, 16% of Gen Xers, 12% of Boomers and just 7% of Silents. This generational pattern is evident among both Democrats and Republicans.

There are also stark generational differences in views of how gender options are presented on official documents. Gen Z is by far the most likely to say that when a form or online profile asks about a person's gender it should include options other than "man" and "woman." About six-in-ten Gen Zers (59%) say forms or online profiles should include additional gender options, compared with half of Millennials, about four-in-ten Gen Xers and Boomers (40% and 37%, respectively) and roughly a third of those in the Silent Generation (32%).

These views vary widely along partisan lines, and there are generational differences within each party coalition. But those differences are sharpest among Republicans: About four-in-ten Republican Gen Zers (41%) think forms should include additional gender options, compared with 27% of Republican Millennials, 17% of Gen Xers and Boomers and 16% of Silents. Among Democrats, half or more in all generations say this.

Gen Zers are similar to Millennials in their comfort with using gender-neutral pronouns. Both groups express somewhat higher levels of comfort than other generations, though generational differences on this question are fairly modest. Majorities of Gen Zers and Millennials say they would feel "very" or "somewhat" comfortable using a gender-neutral pronoun to refer to someone if asked to do so. By comparison, Gen Xers and Boomers are about evenly divided: About as many say they would feel at least somewhat comfortable (49% and 50%, respectively) as say they would be uncomfortable.

Members of Gen Z are also similar to Millennials in their views on society's acceptance of those who do not identify as a man or a woman. Roughly half of Gen Zers (50%) and Millennials (47%) think that society is not accepting enough of these individuals. Smaller shares of Gen Xers (39%), Boomers (36%) and those in the Silent Generation (32%) say the same.

Here again there are large partisan gaps, and Gen Z Republicans stand apart from other generations of Republicans in their views. About three-in-ten Republican Gen Zers (28%) say that society is not accepting enough of people who don't identify as a man or woman, compared with two-in-ten Millennials, 15% of Gen Xers, 13% of Boomers and 11% of Silents. Democrats' views are nearly uniform across generations in saying that society is not accepting enough of people who don't identify as a man or a woman.

Teens and technology

Looking at the relationship American teens have with technology provides a window into the experiences of a significant segment of Generation Z. According to a 2018 Pew Research Center survey, 95% of 13- to 17-year-olds have access to a smartphone, and a similar share (97%) use at least one of seven major online platforms.

YouTube, Instagram and Snapchat are among teens' favorite online destinations. Some 85% say they use YouTube, 72% use Instagram and 69% use Snapchat. Facebook is less popular with teens - 51% say they use this social media site. Some 45% of teens say they are online "almost constantly," and an additional 44% say they're online several times a day.

Some researchers have suggested that the growing amount of time teens are spending on their mobile devices, and specifically on social media, is contributing to the growth in anxiety and depression among this group. Teens have mixed views on whether social media has had a positive or negative effect on their generation. About three-in-ten (31%) say the effect on people their own age has been mostly positive, 24% say it's been mostly negative, and 45% say it's been neither positive nor negative.

Many teens who say social media has had a positive effect say a major reason they feel this way is because it helps them stay connected with friends and family (40% of teens who say social media has a mostly positive effect say this). For those who see the effect of social media as negative, the most common reason cited is that it leads to bullying and rumor spreading (27% of teens who say social media has a mostly negative effect say this).

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On the Cusp of Adulthood and Facing an Uncertain Future: What We Know About Gen Z So Far

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Born after 1996, the oldest Gen Zers will turn 23 this year. They are racially and ethnically diverse, progressive and pro-government, and more than 20 million will be eligible to vote in November.

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Rising middle class and it's consumption patterns 

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Rising middle class and it's consumption patterns 

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https://www.scribd.com/document/699776496/The-Rise-of-Affluent-India

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FASHION’S LONG ROAD TO INCLUSIVITY - University of Fashion Blog

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China Machado – first Asian supermodel photographed by Richard Avedon in 1961 (Photo credit: arogundade.com) Since this is Asian American and Pacific Islander Heritage Month, we thought we’d discuss the fashion industry’s long battle with inclusivity. Historically, fair-skinned, ultra-thin white models dominated the runways, ad campaigns, and magazine editorials. It would take decades for models […]

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The Great Recession most likely served as a spur for the sharing economy's expansion. Individuals wanted less expensive methods to obtain products and services, and the sharing economy provided an appealing option. Furthermore, a growing emphasis on collaborative consumption and environmental awareness chimed with the sharing economy's focus on maximizing resource utilization.

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The world of fashion is evolving, and one of the most exciting and impactful changes is the rise of gender-neutral fashion. Traditionally, clothing has been categorized as "men's" or "women's," reinforcing gender norms and expectations. However, a new fashion era is dawning, one that challenges these norms and celebrates diversity and self-expression. In this blog, we will explore the concept of gender-neutral fashion, its evolution, and the profound cultural and societal impact it's making.
What Is Gender-Neutral Fashion?
Gender-neutral fashion, often referred to as genderless fashion or unisex fashion, is a movement that transcends the boundaries of traditional gendered clothing. It promotes androgynous designs and seeks to offer clothing that can be worn by individuals regardless of their gender identity. The primary goal is to create an inclusive space where everyone can express themselves authentically through their clothing choices.
Key Features of Gender-Neutral Fashion
Versatility: Gender-neutral clothing is designed to be versatile, allowing individuals to mix and match styles traditionally associated with different genders.

Androgynous Design: Many gender-neutral pieces feature androgynous designs, avoiding exaggerated gender-specific silhouettes.

Inclusivity: Gender-neutral fashion embraces a diverse range of sizes, body types, and gender identities, ensuring everyone can find pieces that fit and flatter them.

Diversity: It celebrates a broad spectrum of styles and expressions, avoiding stereotypes and biases based on gender.
The Evolution of Gender-Neutral Fashion
The rise of gender-neutral fashion didn't happen overnight. It is the result of a gradual shift in societal attitudes and a growing awareness of the limitations and stereotypes associated with traditional gendered clothing. Some key factors contributing to its evolution include:

Changing Gender Norms: Evolving views on gender and identity have led to a demand for clothing that reflects these changes.

Celebrity and Designer Influence: High-profile celebrities and designers have challenged traditional fashion norms, pushing the boundaries of what is considered "gender-appropriate."

Social Media and Online Communities: Social media has given a platform to gender-diverse individuals and communities, helping to promote gender-neutral fashion and challenge existing norms.
The Impact on the Fashion Industry
Gender-neutral fashion is not just a trend; it's a movement that has reshaped the fashion industry in several ways:

Challenging Stereotypes: Gender-neutral fashion challenges traditional gender stereotypes and biases, helping to redefine what is considered "appropriate" for men or women.

Market Growth: Brands that embrace gender-neutral fashion are catering to a broader audience, tapping into a growing market of consumers who want clothing that aligns with their identity and personal style.

Sustainability: Gender-neutral fashion often encourages longevity in clothing, as pieces are designed to be timeless, reducing the environmental impact of fast fashion.
Cultural and Societal Implications
The rise of gender-neutral fashion has profound cultural and societal implications:

Empowerment: Gender-neutral fashion empowers individuals to express themselves authentically, fostering self-confidence and self-acceptance.

Challenging Gender Norms: It challenges traditional gender norms and encourages society to rethink its expectations regarding clothing and personal style.

Inclusivity: Gender-neutral fashion fosters inclusivity, making fashion a space for everyone, regardless of gender identity.

Reduced Discrimination: Normalizing diverse clothing choices, can contribute to reducing discrimination based on appearance or clothing.

Gender-neutral fashion is a revolutionary movement that challenges traditional notions of gender in the fashion world. By offering inclusivity, diversity, and empowerment, gender-neutral fashion has the potential to reshape the fashion industry and society's understanding of identity and self-expression. As the industry continues to evolve, we can expect to see more fashion brands and designers celebrating the beautiful spectrum of human identity and expression. It's not just about clothes; it's about freedom, authenticity, and the celebration of individuality.

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Breaking Gender Norms: The Rise of Gender-Neutral Fashion

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The world of fashion is evolving, and one of the most exciting and impactful changes is the rise of gender-neutral fashion. Traditionally, clothing has been categorized as "men's" or "women's,"...

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Promoting body positivity on fashion

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Fashion is not just about clothing; it's a form of self-expression, an art, and a powerful tool for building confidence and self-esteem. However, for far too long, the fashion industry has perpetuated unrealistic beauty standards that exclude individuals with diverse body types. Thankfully, the tides are changing, and designers are increasingly recognizing the importance of inclusivity. In this blog post, we will delve into the significance of designing for different body types and how it promotes body positivity in fashion.
Body Positivity: Beyond the Buzzword
Body positivity is not a fleeting trend; it's a profound cultural shift. It's the embrace and celebration of all bodies, irrespective of size, shape, age, gender, or ability. In the context of fashion, body positivity means designing clothing that caters to a wide range of body types, ensuring that everyone feels comfortable, confident, and beautiful in their attire. Let's explore the reasons why this shift is vital in today's fashion landscape.

Breaking Stereotypes and Fostering Inclusivity

Historically, fashion has been associated with unrealistic body standards, showcasing predominantly tall, thin models. This limited representation not only alienated individuals who didn't fit these standards but also perpetuated harmful stereotypes. Designing for different body types is a powerful tool for breaking these stereotypes and fostering inclusivity.

When people see models and fashion campaigns featuring individuals of all sizes and shapes, it sends a message that beauty is diverse. It tells people that their bodies are not a problem to be fixed but something to be celebrated. This, in turn, helps reduce body shaming and boosts self-esteem, promoting a healthier relationship with one's body.

Designing for different body types isn't just about ethics; it's also a smart business move. The market for inclusive fashion is enormous and growing. People of all sizes and shapes are looking for clothing that makes them feel good, and they are willing to invest in brands that cater to their needs.

By creating clothing that fits a broader range of body types, fashion designers can tap into a more extensive customer base. This not only increases sales but also builds brand loyalty. When customers find a brand that consistently provides clothing that fits and flatters their body, they are more likely to become repeat buyers and brand advocates.

Clothing has the power to boost self-confidence like few other things can. When someone feels comfortable and attractive in what they are wearing, it reflects in their posture, their attitude, and their overall demeanor. Designing for different body types ensures that more people can experience this confidence boost.

Imagine a plus-sized individual finding a dress that not only fits them perfectly but also makes them feel stunning. That feeling of empowerment can be life-changing. It can encourage people to step out of their comfort zones, pursue their goals, and be more active in their communities.

The fashion industry's obsession with unrealistic beauty standards has contributed to the prevalence of mental health issues such as body dysmorphia, eating disorders, and depression. Designing for different body types can be a part of the solution by promoting mental health.

When individuals see that fashion is becoming more inclusive, they are less likely to internalize harmful beauty ideals. They are more likely to accept and love their bodies as they are. As a result, we can hope to see a decrease in the mental health struggles that often stem from poor body image.
Principles of Designing for Different Body Types
Designing for different body types requires a thoughtful and intentional approach. Here are some key principles that fashion designers should consider when creating inclusive clothing:

1. Measurement Diversity: Recognize that people come in various shapes and sizes. Don't limit your sizing to a narrow range. Offer a wide spectrum of sizes, including plus sizes and petite sizes.

2. Fit and Proportion: Pay attention to fit and proportion, ensuring that garments flatter different body shapes. Understand the nuances of different body types and design accordingly.

3. Fabric Selection: Choose fabrics that have stretch and give to accommodate various body sizes comfortably. Avoid fabrics that are restrictive or prone to wrinkling.

4. Adaptive Clothing: Consider creating adaptive clothing for individuals with disabilities. Think about how zippers, buttons, and closures can be modified for ease of use.

5. Body-Inclusive Advertising: Use models of all body types in your advertising campaigns. Show how your clothing looks on real people with diverse bodies.

6. Feedback and Collaboration: Seek feedback from a diverse group of individuals when designing your clothing. Collaborate with designers and influencers who champion body positivity.

7. Accessibility: Ensure that your clothing is accessible to a broad audience, including those with limited mobility or sensory impairments.

Case Studies: Brands Leading the Way
Several fashion brands have embraced the concept of designing for different body types, setting a positive example for the industry:

1. Aerie: Aerie's commitment to body positivity is evident in its advertising campaigns, featuring models of various sizes, and its refusal to retouch or airbrush images. They offer a wide range of sizes and styles for lingerie and swimwear.

2. Universal Standard: This brand is known for its inclusive sizing, offering clothing from size 00 to 40. They prioritize fit and quality, ensuring that their garments flatter diverse body shapes.

3. TomboyX: TomboyX specializes in inclusive and gender-neutral underwear and loungewear. They offer a wide range of sizes and celebrate body diversity in their marketing.

4. Savage x Fenty: Rihanna's lingerie brand has been praised for its commitment to diversity and inclusivity. Their runway shows feature models of all sizes, ages, and backgrounds.

Designing for different body types isn't just a trend; it's a movement that is reshaping the fashion industry. By embracing inclusivity and body positivity, designers and brands can empower individuals to feel confident and beautiful in their own skin. This shift isn't just good for business; it's good for society, mental health, and self-esteem.

As consumers, we have the power to support brands that prioritize inclusivity. By choosing to buy from companies that celebrate diversity in their designs and advertising, we can help drive the fashion industry towards a more body-positive future. In the end, it's not just about what we wear; it's about how we feel about ourselves and the message we send to the world.

In a world where everyone's body is celebrated, fashion becomes a force for good, promoting self-love, confidence, and a more accepting society. It's time for the fashion industry to continue this journey towards a brighter, more inclusive future for all body types.

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Designing for Different Body Types: Promoting Body Positivity in Fashion - RYAN AMORE INC.

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Fashion is not just about clothing; it's a form of self-expression, an art, and a powerful tool for building confidence and self-esteem. However, for far too long, the fashion industry has perpetuated unrealistic beauty standards that exclude individuals with diverse body types. Thankfully, the tide

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( Book) The Business of Sharing: Making it in the New Sharing Economy ~ Alex Stephany

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( Book) The Business of Sharing: Making it in the New Sharing Economy ~ Alex Stephany

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Fashion Designers about Body- inclusivity

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Fashion Designers about Body- inclusivity

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For years, exclusivity was an unspoken, yet widely known and accepted norm within the fashion industry. This norm included, but was in no way limited to, creating designs and outfits to fit a particular body type; typically those with tiny waists and flat stomachs. For a long time the industry set the standards of beauty...until they didn't. Today, people of all body types, across age groups and the gender spectrum have become increasingly vocal about exclusionary practices and the need for body positive fashion. As Ashley Graham says, "It doesn't matter what size you are. It doesn't matter if you have cellulite. It doesn't matter if things jiggle where they're not supposed to. That's still beautiful." A whole generation of people within and beyond the fashion industry are setting out to define their own standard of beauty-and it's all inclusive. From collaborating with models of all sizes, to advocating an inclusive fashion space, these fashion designers are ensuring there's room for everyone.

Michael Kors

In 2017, Michael Kors became one of the first veteran designers to cast a 'plus-size' model on the runway at the New York Fashion Week, which created waves in the fashion world. "I don't like it when the models all look the same. To me it's so incredibly boring to turn them into mannequins, it's so much more interesting if we have different ages, ethnicities, body types, heights," he stated in an interview at the time. He continues to offer his collections in extended sizes, whether it's a buttoned-down shirt dress or a midi-skirt.

Christian Siriano

Christian Siriano is an American fashion designer who made his mark in the fashion industry at the age of 21, after becoming the youngest winner of Project Runway in 2007. But what we love him for is his mission to make fashion for every body type. His work since has included all skin colours, ethnicities, and body types-from the flounce hem sleeve, shirt dress, to the red strapless, criss-cross dress-it's for anybody to wear. The designer partnered with Barbie in 2017 to create a line of diverse dolls too. Hear hear!

Mara Hoffman

For all those who've been insecure of their, curves, rolls, and stretchmarks, and for those who have been too afraid to flaunt their swimsuit body-this one's for you. After working in the industry for 15 years, designer Mara Hoffman decided to make some changes. Having always been an advocate for body positivity, Hoffman has been working with women of all shapes and sizes to create an all-inclusive swimsuit line. Further, she also transformed her production process to make it more sustainable and responsible by switching organic, recycled material.

Anju Modi

The revered designer Anju Modi is not only known for her couture that is a class apart but also, her belief and practice of sustainability in ethnic wear. Today, she dons a new hat as she has become increasingly vocal about inclusivity in the fashion world-whether in terms of culture or body type. Her recent collection at the Lakmé Fashion Week, held earlier this year, spoke volumes about this belief. "Inclusivity is a sensitive subject that requires us to be more aware, mindful, and educated, especially designers, who cater to Indian women. Ours is a country that boasts of a wide range of skin tones and body proportions, yet, when it comes to fashion inclusivity, we still have a long way to go," she said in an interview.

Gaurav Gupta

Another Indian designer making waves when it comes to body positivity is the one who doesn't need any introduction. Gaurav Gupta has been advocating body positivity, inclusion, and diversity through his work which included featuring models, such as Nitya Arora, a body positive advocate, Anjali Lama, a trans-female model, Vee, a trans model, and many more. The collection, titled, "Name Is Love' celebrated love in all.

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designers who are all about body inclusivity

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These fashion designers are all about body-inclusivity

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CareGivers of America, Providing You With The Best In Home Healthcare - South Florida

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In conversations or on social media, we've heard about "Generation X" or reference to "Millennials". Most of us are familiar with the term "Baby Boomers". But these days, people seem to throw around labels that some of us may not be aware of.

Let's discuss the various age groups and the names by which they're known.
***Please keep in mind the years listed are approximations. Generations are generally 20-25 year periods, but the beginning and end years can be fluid, depending on research and ever-developing definitions.
Generation Names

The Greatest Generation - born 1901-1927

These folks were indelibly impacted by the Great Depression, which molded their children in regards to frugality. This group was also representative of the majority of soldiers in World War II. If still with us, these folks are between the ages of 98 and 121.

The Silent Generation - born 1928-1945

Those born between these years are actually the smallest group, due to consequences from the Great Depression and World War II. Between the size of the population and the hesitancy to speak out against social issues due to the McCarthy era of government, they earned their name.

In 2022, people in this group are between 77 and 97.

The Baby Boomer Generation - born 1946-1964

Baby boomers, along with Millennials, are one of the most misunderstood and mislabeled groups of the entire list. Countless internet jokes and videos of young people saying "Ok boomer!" in referencing an older person not understanding the modern world and how it works.

The baby boomers are actually one of the most relevant groups in modern society as they were integral and present for many of the technology advances in the last 50 years. They have been more adaptable to modern growth and learning how to function in today's technological age. Boomers are currently between the ages of 58 and 76.

Generation X - born 1965-1980

As with Baby Boomers, Gen X'ers are the most relevant generation of modern times, in relation to technology and serve almost as a bridge from older populations to younger ones. They were present for the inception of the internet, video games, artificial intelligence and is the population that has created many of these advances.

This groups of folks is currently between the ages of 43 and 57.

Millennials - born 1981-1996

As mentioned, alongside of Gen X'ers, Millennials are greatly misunderstood and often mislabeled. Older folks can tend to blame someone younger for being a "Millennial" when they don't understand the values of older times and hold the same views as they did when they were young.

It's quite common to hear someone use the term Millennial to refer to people in their 20s, although true Millennials are between the ages of 28 and 42.

Generation Z - born 1996-2012

This group of younger people is an interesting one. They have been exposed to social media, and were the first population to cope with cyber-bullying and other internet related issues, It was also during this time that school related violence and climate crisis have become more prevalent.

This large group of people are between the ages of 10 and 27.

Gen Alpha - born 2013 - 2025

These are the youngest people in the Unites States and are the first group to be born in the 21st century. They are the first generation to be born to parents who grew up with the internet, cell phones, tablets and social media. They are also inclined to be the most racially diverse and the most technologically adept.

The oldest people in this group would be 9 years old this year.

Wrap Up

While you may not use the generational names in everyday conversation, it's helpful to know the difference between (for example) Baby Boomers and Gen X'ers. The more you know, the more you know!

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*No information in this article is to be taken as advice, medical or otherwise. This post is not sponsored, but may contain external links to websites, articles or product examples. External links are used for example or refence purposes only and these links do not indicate specific product or website endorsement by CareGivers of America.

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2022 Generation Names Explained - CareGivers of America, Providing You With The Best In Home Healthcare - South Florida

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In conversations or on social media, we've heard about "Generation X" or reference to "Millennials". Most of us are familiar with the term "Baby Boomers". But

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The growth of the sharing economy is intrinsically related to the evolution of the internet and mobile technology. Online platforms have developed as a critical link, enabling large-scale peer-to-peer (P2P) interactions. These portals allowed users to connect with unused assets and services, creating a dynamic economy.

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The fashion industry has a long history of promoting inclusivity, with fair-skinned, ultra-thin white models dominating runways and ad campaigns. However, in the 1960s, Dorothea Towles Church, the first successful black model, and Naomi Sims, the first African American model, broke the color barrier. In 2008, photographer Steven Meisel challenged racism in the fashion industry by choosing only black models for a Vogue Italia spread. Today, inclusivity is a defining word in the industry, with beauty standards changing rapidly, with Generation Z voices and sociopolitical movements taking center stage. Brands are pushing for more diversity and inclusivity in their shows and ad campaigns, realizing it is the future of fashion.

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Manufacturing Platform for Apparel Industry | Fast & Sustainable - Fashinza

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New Generation Supply Chain And Product Development Platform For Fashion Industry. No matter where you are! We provide one stop solution from design to delivery.

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Millennials face a radically different economic reality than Baby Boomers, who may have purchased their homes with solid jobs and low debt. Underemployment, huge student debt, and the legacy of the housing collapse make buying a faraway goal for many people.

Millennials think differently about what it means to “own” something. This is why an ambivalence towards ownership is emerging, which is further feeding into the need for a sharing economy.

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Subscription Services in Fashion Industry

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Subscription Services in Fashion Industry

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Title discussion - which one do you prefer?

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1. Navigating the trend scape: Examining the influence of mega trends on fashion consumption 

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2. From Boomers to Genz: The evolving consumer and their response to fashion

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Seamless Style: Unlocking the Power of Fashion Retail Subscription Models in Sri Lanka

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A fashion retail subscription business model is a system where customers pay a recurring fee to receive curated fashion products or…

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The Art of 3D Computer Animation and Effects

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Master the art of computer animation and visual effects production with the latest edition of this cutting-edge guide This remarkable edition of The Art of 3D Computer Animation and Effects offers clear, step-by-step guidelines for the entire process of creating a fully rendered 3D computer animation.

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I recently wrote about the big trends in Retail Digital Transformation and I wanted to spend a little time identifying a company that is doing it well that doesn't represent the same old brands that receive constant call outs for being disruptive. That is how I landed on Stitch Fix. There are a lot of box subscription services these days. From clothing to packaged meats, candles to make-up-there is a "box" for almost everything. But there's one company, to me, that started the whole movement: Stitch Fix. And they've done it so well that many think their model might be about to uproot retail's digital transformation.

First, let's roll back a minute. Stitch Fix was founded in 2011 as an online "personal styling" service that selects and mails clothes, shoes, and accessories to its clients based on an extensive style survey (i.e. data). The better the "stylist" selects the clothing, the more money Stitch Fix makes. And that's where the company's obsession with data comes into play. And how this is driving retail's digital transformation.

Still, there is an incredibly small amount of wiggle room to break into retail. Amazon has a corner on of consumer goods bought online every day, and brick and mortar retailers continue to close because shoppers continue to shop online. So, who would have thought that sending a box of clothing to someone's home would be a hot niche that's turning an industry on its head? Turns out shoppers aren't as allergic to shopping in person as we thought. They just like the convenience of staying home to do it.

The remarkable thing about Stitch Fix, though, isn't its business model, which blends digital with a healthy bit of reality. It's the company's use of algorithms across essentially every single facet of the company. When it comes to data, Stitch Fix is doing it well, and there are a lot of things all companies-not just retail-can learn from it. The following are just a few of my favorite takeaways.

They're hungry for data. All companies want data. But are they burning for it ? At Stitch Fix they are. As part of their Style Shuffle-a "swipe right" type of "Tinder for clothing"-they've found a way to reach beyond the feedback they'd get from customers through buying alone. By letting customers swipe through different styles in their entire collection, they amass mounds of data that helps them better understand the customer, as well as age and demographic trends shaping the fashion industry. It's the type of big-picture thinking companies need when getting the "more" from their data outlets.

They personalize at scale. We know personalization is the hallmark of customer experience in digital transformation. Stitch Fix is doing it incredibly well. Using their Style Shuffle, they've acquired more than a billion data points-information their customers-2.9 million of them-willingly offer, which dramatically increases their chances for profitability. (Stitch Fix makes money on clothing sold more so than subscription fees. The more clothing from one box that fits or flatters, they more well off they will be.) Indeed, while some companies may struggle with " creepy personalization " issues, Stitch Fix's customers are happy to offer the feedback about fit and style because they know it will make their future shopping experiences even better.

They Share Data. I recently shared a piece that talked about the importance of creating a digital ecosystem to support your innovation. Stitch Fix has done so by partnering with tons of top designers-more than 1,000 brands-who love working with Stitch Fix because of the valuable feedback they'll receive from its customers.

They put data into action. Using the data they collect, Stitch Fix is able to see not just products people buy, but products they want to buy. Creating their own Stitch Fix label, they're able to design those goods most likely to be successful based on predictive buying analytics. It's these types of decisions that allowed Stitch Fix to generate $1.2 billion in sales in FY 2018, with in earnings. Not too shabby for a company launched in founder Katrina Lake's apartment when she was still a student at Harvard Business School.

They use data for other departments. Even though Stitch Fix is famous for using algorithms to match personal fashion, that's not the only way it uses its numbers. The company uses data for just about everything, down to finding the most efficient way for employees to work their way through fashion warehouses while putting together a personal "fix." This is not a company that leaves anything up to fate. It's meticulous in making data-led decision-making part of its everyday culture .

Using data isn't a game changer. Tons of companies are using data to identify shopping patterns and make it easier for sales and marketing to target the right people. But Stitch Fix is letting data lead the company-and that makes the difference.

Stitch Fix is setting the gold standard in retail's digital transformation. Scratch that-they're setting the gold standard in all digital transformation, showing that even industries typically outside the "tech" spectrum can and should be using data to improve customer experience and sales both. They are a shining example just like the Harley Davidson dealership that started to use predictive analytics to better identify potential customers and improve sales. These are the companies that are getting "it" and finding success in digital transformation.

And honestly-other companies are listening. Big names like Amazon ( Prime Wardrobe ) and Nordstrom ( ) have both taken lessons from Stitch Fix's book. They're realizing that disruption in retail's digital transformation can come from almost anywhere-even a simple cardboard box.

Follow me on Twitter or LinkedIn. Check out my website.

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Stitch Fix: A Useful Case Study For Retail's Digital Transformation

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How Stitch Fix is bringing retail digital transformation to life with its use of data, analytics and customer experience.

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Rent The Runway Business Model: Case Study

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%This case study explores the business model of Rent the Runway. Learn how the company works by leveraged technology to create a unique customer experience and drive profitability.

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Consumer Data and Digital Transformation of retail.

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Consumer Data and Digital Transformation of retail.

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Stitch Fix, founded in 2011, operates as an online platform offering personalized styling services, wherein clothing, shoes, and accessories are curated and dispatched to clients based on detailed style surveys. The financial success of Stitch Fix is intricately tied to the proficiency of its stylists in accurately selecting items for customers. This underscores the company's unwavering commitment to leveraging data as a pivotal force in propelling the digital transformation within the retail sector.

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How Stitch Fix uses data to select clothes

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How Stitch Fix uses data to select clothes

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How Stitch Fix Uses Data To Pick Clothes For You | Forbes

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Rentals for fashion clothing and accessories

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Rentals for fashion clothing and accessories

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Through the implementation of Style Shuffle, Stitch Fix has amassed an extensive dataset comprising over a billion data points. This reservoir of information is voluntarily provided by their customer base, which currently encompasses 2.9 million individuals. The strategic utilization of this substantial dataset significantly enhances Stitch Fix's prospects for achieving profitability.

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How the Wellness Phenomenon is Influencing Fashion Globally

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Image credit: Marina Tatarenko / Shutterstock.com

"Wellness is the new black," the fashion industry has proclaimed! No longer merely a lifestyle choice, wellness is now a significantly influential trend in global fashion. Activewear sales are booming, and active sports apparel is one of the fastest-growing categories in fashion today.

No surprise then that many high street and luxe brands are adding activewear components to their offering. Tory Burch is one of the latest to do so, along with more high street and affordable brands such as H&M.

Whilst the new clothing lines are designed for activities such as yoga, they're also intended to be worn outside the gym. Traditional sportswear retailers such as Nike are choosing to collaborate with luxury designers with the aim of offering fashion-forward performance wear that can be worn anytime.

It's an approach that's been so successful that some of these collaborations have turned into permanent lines, such as Adidas with Stella McCartney.

It's not just fashion retailers that are moving into activewear. Gyms and other exercise providers are also starting to develop their own activewear lines. SoulCycle, the incredibly hip chain of spin studios, is just one fitness brand to do so.

Perhaps the key to this clothing is that it's extremely wearable. Although there's certainly an interest and awareness in the importance of maintaining an active lifestyle, activewear pieces tend to be highly comfortable and practical for daily wear.

The growing informality of workplaces means it's much more acceptable for people to wear casual clothing to the office. The new prevailing style is active, functional, but still fashionable.

The activewear and athleisure trends have influenced luxury fashion too, with brands such as Chanel, Dior and Louis Vuitton offering their own take on trainers. Brands such as Chloé and Hermès decided that designing their own clothing for exclusive winter sports such as skiing was the best way to produce luxury athleticwear.

Other brands have used the casual sportswear trend to influence their streetwear designs, creating highly informal clothing influenced by sportswear styles.
RELATED: What's Next for Athleisure
Established luxury brands are wise to hop on the trend because there are new market entrants to contend with in this arena. Launched just 2 years ago, new market entrant Maia Active has been offering athletic clothing to Chinese women designed specifically for the local climate and with their body type in mind.

So far the brand has grown quickly in China's market. Other newcomers include fashion-conscious Koral, ballet-inspired StudiøGrand, or Lou & Grey Form, which focuses on offering super-soft fabrics.

Wellness Asia

Wellness isn't just an influential trend in the West. Consumers in China are also taking an increasing interest in lifestyle and health. Although food safety and environmental health remain key areas of concern, there's a developing interest in exercise and health.

According to a 2017 report by the Hurun Report and the Shenzhen Catic Wellness Group, Chinese families were spending up to a quarter of their income on healthcare and fitness, including things such as gym memberships and products from athletic equipment to functional clothing.

Time was, middle-class families in China insisted on their kids learning piano. Now, wealthier individuals are encouraging their children into high-end sports such as rowing and horse riding in the hope of giving them a social advantage.

Interest is shifting away from luxury towards more practical fashion. Wearing athleisure has become a sign of social advantage and sophistication.

It's a trend being encouraged by brands such as Lululemon, a Canadian athleisure brand with a heavy emphasis on yoga. Store placement (always a significant strategic concern in China's market) is key to this trend - expensive gyms and top-end athleisure brands such as Lululemon are opening in the more exclusive shopping areas and malls.

Meanwhile, China's top-end department store, Lane Crawford, is adding athleisure and sportswear brands to its roster. The store brand is actively courting Chinese apparel brands, encouraging young designers, as well as adding established Western ones such as Adidas and Stella McCartney to its lineup.

Social media and what celebrities are doing, wearing, and talking about, are every bit as influential in China as they are in the West. It's certainly helping to drive an interest in wellness as a lifestyle.

Consumer analysts seem to believe this interest is generally sincere. Although Chinese citizens have been conspicuous consumers of high-end brands in the past, interested in an item's status value rather than practicalities, contemporary Chinese consumers are taking a genuine interest in personal improvement and wellness.

That seems to be particularly true of younger consumers in China. Lane Crawford believes that this trend is being driven by social media and exposure to the health and wellness trend from international brands and celebrities.

As a result, the store's actively expanding its offering for brands that mix fashion with fitness to reflect a growing interest in the wellness lifestyle.

As trends go, wellness seems to be both profound and lasting. The most significant aspect of this trend is perhaps its reach: it's influencing markets right around the world, it's making its impact felt from low to high fashion and it seems to be here to stay.

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How the Wellness Phenomenon is Influencing Fashion Globally

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Image credit: Marina Tatarenko / Shutterstock.com No surprise then that many high street and luxe brands are adding activewear components to their offering. Tory Burch is one of the latest to do so, along with more high street and affordable brands such as H&M.

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Three type of subscription business models:

1. Membership Model

2. Rental Model

3. Delivery Model

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Born in a pre-Internet era defined by events like the fall of the Berlin Wall, Gen X is often overlooked in favor of Baby Boomers, Millennials, and Gen Z.

Despite their reputation as the "forgotten generation," Gen X controls a significant share of the spending in today's economy.

Expected to outnumber Baby Boomers by 2028, Gen X has entered its peak earning years and now makes up more than half of leadership roles globally. This generation also fared better during COVID-19 than others, with their aggregate net worth going up 50 percent because of equity gains, pension entitlements, and a decrease in their share of consumer debt.

As they proceed into middle age and inch toward retirement, Gen X's focus lies on ensuring they have secure financial assets and the health to help them make the most of their golden years.

In this blog, we'll examine some of the beliefs that motivate these focuses for Gen X and how companies can cater to those values.

1. Supplements Make a Difference in Health (77%)

While Gen Z and Millennials might be fueling the wellness market explosion, Gen X health and wellness consumers also hold their own.

More than three-quarters of Gen X agreed with the statement "I believe that supplements such as vitamins and minerals can make a difference in my health."

CDC data backs this up. 59.2% of US adults aged 40 to 59 used dietary supplements between 2017 and 2018. They were only beaten by the Boomer+ generation in their consumption of supplements.

This offers an opportunity for brands to fine-tune their product and promotional ideas to capture Gen X consumers who are focused on health and wellness.

Some businesses are already practicing this. The re-emergence of 80s and 90s aesthetics, including fashion, have struck a chord with Gen X in a major way in recent years. According to National Geographic, part of this could be because the COVID-19 pandemic prompted a turn to nostalgia, especially for Gen X, "as a stabilizing force and a way to keep in mind what they cherish most."

As Gen X ages, the health & wellness industry may find their mark among the generation by harkening back to the "good old days" where life felt simpler and easier for today's business leaders.

2. Staying Active Is Important (71%)

Almost three-quarters of our Gen X survey respondents said they like to stay active. Considering their interest in the health benefits of supplements, this makes a lot of sense.

Not only is Gen X controlling the nutrients that their bodies get - they're also engaged in maintaining a certain level of fitness. Motivations could range from staying fit purely to stay healthy to staying healthy for the sake of children and beyond.

According to at-home workout company Les Mills On Demand, Gen X health and wellness motivation mainly centers on improving fitness. Pre-pandemic data from IHRSA Health Club Consumer Report showed that Gen Xers are health club loyalists.

These facts combined with their higher income levels makes Gen X health and wellness enthusiasts more likely to be able to invest in personal training, bootcamps, and group fitness classes.

The generation's nostalgia factor can also give health and wellness brands a strong starting point when it comes to appealing to this interest in Gen X. 80s and 90s fads like jumprope, rollerblading, and breakdancing could all play naturally to this generation's desire to stay active.

3. Products with Health Benefits Are Worth the Money (67%)

As our research showed us, two-thirds of the generation believes that it's worth spending money on products with health benefits.

This is somewhat expected, as Gen X's earning levels provide more disposable income to purchase health & wellness products with higher price tags.

Living Facts by Pew Research shows that in addition to Gen X boasting the highest incomes after taxes compared with all other generations, they also spend the most, in part thanks to their generational trend of saving and investing in favorable markets.

But Gen X health and wellness consumers won't spend their hard-earned money on just anything. They expect value, fact-based product information and items that are fun and, if food-based, yummy.

Our research shows the most common communication approach Gen X health and wellness shoppers respond to across marketing channels is informational facts/figures, so start from this basis in your marketing campaigns.

4. Mental Health Is a Priority (66%)

During our research, we discovered that 66% of Gen X says they prioritize mental health.

There could be a variety of reasons for this. For example, in 2021, 22% of Gen Xers said they feel stress daily, followed by Millennials at 17%, Gen Z at 14%, and Baby Boomers at just 8%.

And in an American Psychological Association survey, a third of Gen Xers reported their mental health had gotten worse throughout the COVID-19 pandemic.

This plays well into the Gen X archetype of craving stability and the status quo. Consistency and predictability are important factors to any person's mental health, and they can both feel far out of grasp when something like a global pandemic begins to impact daily life.

The loss of the ability to travel places, practice social activities, and more all weighed on the mental health of consumers, regardless of generation. But Gen X, as both parents and providers for their own retired parents, may have felt this burden at an exceptionally intense level.

After all, this would've meant transitioning to work-from-home careers (at least temporarily), managing at-home school schedules with children, and a host of any other challenging details.

So as we've learned in 2022, 66% of Gen X is prioritizing their mental health - and likely for good reason.

What about the Other Generations?

The takeaways that we've learned about Gen X are just the first of many nuanced discoveries we made in our omnichannel generational study.

In this study, we take a detailed look at not only Gen X, but also Gen Z, Millennials, and Boomers+.

It's the ideal document to help any company start learning how they can reach out, engage, and truly resonate with members of a certain generation.

Click here to download your copy of our study!

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What does Gen X want from wellness and wellness brands? Learn four of the big answers here.

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Subscription businesses in the 20th century

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Subscription businesses in the 20th century

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From colourful beginnings

Back in the 17th century, when the subscription model was imagined into existence, it was a form of crowdfunding in which subscribers made payments to support new ideas and products. Insurance companies were the first to pioneer it, followed closely by public corporations, book publishers, educational institutions, and even charities. (I discuss this early history in Part 1 of this series; read it here.)

By the 20th century, things began to get better. As transport infrastructure and logistics improved, delivering products regularly to the farthest corners of the developed world became easier. This meant that subscriptions could now move from annual to monthly or even weekly. Businesses began to recognize other advantages of the subscription model: convenience for the customers and revenue stability for them.

Every few decades in the last 100 years, a new industry has taken to the subscription model and worked it to suit their product and customer base. It is also interesting that each offered a particular advantage to its customer base, and in later years, multiple of these. Did these businesses taste success? Let us find out.
Early 1900s: Newspaper publishing Offering: Affordability & access
Remember the scenes in retro Hollywood movies in which newspaper boys stand on street corners shouting the day's headlines to entice passersby? In those days, subscribing to a newspaper was too expensive for the average person. They preferred to buy single copies from newsstands on their way to work. Once mass publishing became cheaper, the story changed. Newspapers multiplied and expanded locations and niches.

By the 1920s, enough newspapers had established their own identity, editorial principles, and loyal reader base that they could move to a subscription model. The takers for each paper, depending on its political leanings, cut across classes. Blue collar workers, middle class working men, ladies of leisure, bankers...everyone had their own preferred newspaper subscription.
Late 1920s: Subscription clubs for connoisseurs Offering: Expert curation
In 1926, an American ad copywriter named Harry Scherman hit upon a way to market books by new authors. With a couple of publisher friends, he established the Book-of-the-Month Club which would send subscribers one hand-picked book chosen by a judging panel every month.

According to him, "[The BOMC] establishes itself as a sound selector of good books and sells by means of its own prestige. Thus, the prestige of each new title need not be built up before becoming acceptable."

The club started with 4000 subscribers and in the next 20 years, reached 550,000 members. The club is still active, having shifted to an online platform.

The same model was followed by wine and cheese clubs, where a special would be chosen periodically and sent to subscribers by an expert.
1970s - The birth of PayTV Offering: Better viewer experience
It was the 1970s. Cable TV was popular, but replete with ad interruptions, limited content, and censorship for objectionable material. Viewers were pretty much at the mercy of the broadcasters' preferences. That is when television executive Charles Dolan hit upon an idea: what if he could license unedited movies directly from Hollywood studios and broadcast them to homes, without any advertisements, for a monthly fee? The idea clicked and HBO, the pioneer of PayTV, was born.
1980s - From Blockbuster to Netflix Offering: Customer convenience
Blockbuster was the biggest player on the block in video cassette rentals in the 1980s and upgraded to DVDs in the 90s. But they were not particularly customer friendly: they had a pay-per-rental model, along with deposits, shipping & handling, and late fines. The story goes that Reed Hastings had to shell out $40 for being overdue with a copy of Apollo 13 and that motivated him to establish Netflix, the world's first online video rental store.

While Netflix started out on a pay-per-rental model, in 4-5 years, they switched to a flat-fee, unlimited rental subscription model, one that they have stuck to (with the introduction of different pricing plans) even after pivoting to OTT. This became the cornerstone of their popularity and was instrumental in their success while the Goliath aka Blockbuster collapsed.
2000s - The rise of SaaS Offering: Ease & flexibility
By the 1990s, the world had begun to realize that software tech was an integral part of, well, pretty much everything. At first, this software was bundled along with the hardware - think early mainframe and microcomputers. Later came on-premise licensing of software. Both meant physical hosting, maintenance, high upfront costs, and less flexibility for the user businesses.

Application Service Providers (ASP) were the first to offer a subscription-based solution. With ASPs, users would subscribe to a suite of computer applications that could be accessed over a network. Some early examples include Great Plains (enterprise applications provider, now Microsoft Dynamics), Concur (travel and expense management software), BMyPC (virtual computing space) and Agiliti (ASP aggregator). However, ASPs were not particularly successful because they catered to a limited, specific number of users.

It is with the advent of Software-as-a-Service that the subscription model really came into its own. SaaS is pretty much any application that you can access via a website or app and pay for monthly or annually. Take, for example, Dropbox, which gives you storage space on the cloud or Salesforce, which lets you manage your entire sales cycle. There is no physical or on-premise requirement; access is practically instantaneous, and pricing is offered in tiers, depending on the user's needs.
Mid-2000s - Unboxing the subscription box Offering: Curation & surprise
Convenience, flexibility, affordability...by the 2000s, the subscription model seemed to tick every box for customers. How then could it be scaled? As it turns out, through subscription boxes, in a way reminiscent of the subscription book and wine clubs of the 1920s.
"Surprise is like crack for your brain...people are designed to crave the unexpected." Scott Redick, Digital strategy veteran.
We live in an age where much of life is predictable because of easy, almost instant, access to information (no more steering ships with a compass or waiting weeks for letters!) This is probably why an element of surprise or unpredictability delights us. Early subscription boxes took advantage of this emotion and made it even more potent by adding an element of curation.

Take the example of Blue Apron, which pioneered DIY-meals-in-a-box in the US in early 2012. They promise customers not just ingredients and recipes to quickly put together meals - but variety. And this variety is not boundless - you get to decide your boundaries or rather, preferences, within which the curation will happen.

Source: Blue Apron website

By 2018, a whopping 55% of subscriptions had become curation-based as more businesses followed suit. There's BarkBox (curated products, services & experiences for your dog), BirchBox (monthly surprise boxes of 4-5 makeup samples), Dollar Shave Club (personalized, top-shelf grooming essentials), and dozens more.

As I trace the history of subscription businesses, what strikes me the most is how the model has evolved to reflect changing customer needs and preferences. What does the future of the subscription world look like? I have some fascinating theories, which I will share in Part 3 of this series.

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Subscription businesses in the 20th century: a look across industries

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From colourful beginnings Back in the 17th century, when the subscription model was imagined into existence, it was a form of crowdfunding in which subscribers made payments to support new ideas and products. Insurance companies were the first to pioneer it, followed closely by public corporations,

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Wellness and Fashion Tech: A Combination that Does Wonders

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Wellness is a new term for an ancient concept: taking care of oneself. Wellness isn't just about health and fitness: how fast we can run or how many cardio classes we fitted in at the gym this week- although that's part of it. It's also about taking care of our mental health, relaxation, meditation, eating healthily, taking care of our biome and not neglecting our creative side. In an economy where Millennials, in particular, face uncertainty about the future and simply don't have the money to buy a big house and fill it with belongings, wellness strikes a chord. They have realised that they can, instead, invest in themselves. The global market for health and wellness reached £532bn in 2016 and is predicted to grow to £632bn by 2021, according to Euromonitor International. A visit to a wellness festival or a yoga studio pass may, on the face of it, be expensive, but people are realising that the self-investment is worth it.

But that's not to say that this sector of the market completely eschews material belongings. They are interested in themselves, in their health and how they appear to the outside world. So areas of skincare, makeup and fashion are of great importance. Millennials and the generation after them, Generation Z, are digital natives, comfortable with the online world. They are receptive to what technology can do for them. The two trends together mean that they are the ideal demographic for fashion tech. Clothing that looks good, makes them look good, and advances their wellness goals - the ultimate product.

FASHION BOUTIQUES V.S. BOUTIQUE GYMS

The fashion business has seen this and risen to the challenge. Boutique gyms may have replaced clothing boutiques in terms of a luxury destination to spend your money, but those yoga selfies are still going to need some great-looking leggings to get maximum likes. Of course, fashion clothing still counts as a physical item, so it has to earn its place in the budget and wardrobe in terms of what it can do beyond standard fashion parameters. Here are some examples,

1. Wearable X is one of the companies who are looking into this. Their leggings produce haptic feedback to guide the wearer through their yoga practice, sensing where a pose is incorrect and gently buzzing at the relevant spot to help the wearer get it right.

2. Another company is Oysho, who have created ionisied sleepwear. This releases negative ions while the wearer is asleep, in a technology designed to combat the many damaging positive ions we are exposed to through out smartphones, computer screens amongst others. The negative ions promote a natural and restful sleep.

3. Similarly, Under Armour is also making sure that your nights are serene. They have made sleepwear specifically for athletes, to help your muscles recover in the night. They are lined with with a soft bioceramic print, which absorbs the body's natural heat and reflects it back into the skin as Far Infrared. Infrared has long been used for tissue and muscle recovery, and this is a smart way to use it without needing to spend time on specific infrared treatments.

4. And our previous startup feature, The Future of Walking, have created shoes which clean the air in the personal space of the wearer.

FASHIONING MENTAL HEALTH

Mental health is a part of our overall wellness that we can't afford to ignore. According to the mental health charity Mind, one in four of us will experience a mental health problem each year. Clothing and mood are closely tied: think of your favourite old sweater that instantly brings comfort, or wearing an attention-grabbing pair of fabulously brightly coloured trousers for a night out - your spirit is lifted just looking at them. Recently, more and more celebrities are becoming open about their own mental health struggles. Depression, anxiety and other conditions are no longer a source of silent shame, and nor should they be. Gucci recently sending models down the catwalk in straitjackets caused model Ayesha Tan-Jones to protest the concept by writing on her hands "mental health is not fashion" as she walked down. While she certainly had a point about the dubious taste of the collection, fashion is not merely frivolous. Fashion can be about mental health, and part of its role can be in lifting this stigma.

The problem is with fashion tech is that it can seem a little soulless. In the dim and distant past, we needed a running coach standing by the track with a stopwatch physically counting how many laps you did and how fast. Now, this process is automated with a smartwatch so that you can be your own coach. This is more democratic, because of course not everybody has the means for a personal trainer. But is it also removing the personal connection?

Smartwatches are still a little glitchy, and sometimes miss a lap, which can be frustrating. But perhaps we can see this a little like human error - a built-in human touch. It is an inevitable paradox: we need efficiency in machines, but when we use machines for our private lives, over-efficiency can end up cancelling out the improvements we seek. Sure, we might have excellent quads, but when our personal best is just between us and our Apple Watch, we could feel a little lonely. Our physical health comes at the cost of our mental health.

So how can we balance this out? Jenny Tillotson's fragrance wearable releases small tailored doses of alcohol-free perfume via an AI liquid delivery device housed in clothes. It considers the environment in general, the wearer's personal environment and skin sensitivities, other people's sensitivities to scent, and is adaptable via machine learning. The idea behind it is to bathe the wearer in their own personal miasma of fragrance which lifts their mood according to what they need at that particular moment. Fragrance and smells have a powerful effect on our mental health.

WELLNESS AND FASHION TECH COMMUNITIES

This is something that the big fashion brands are aware of and seek to address. It's why sports apps encourage you to join online communities to compare results, challenge and support each other. However, no automated "God job!" response matches up to the same thing from a real human being. Even if that human being is, ironically, sitting behind a computer and at a digital remove. Over a decade ago, Nike launched their Nike+iPod Sports Kit, a sensor which was embedded in the sole of certain running shoes and compatible with certain Apple products to track fitness. On the back of that, they launched the Nike Run Club - which both logs your results encourages you to compare them with friends. LuluLemon created the SweatLife community for the same reason. In this case, the in-store yoga classes, park runs and above all, the two-day SweatLife Festival encourages customers to connect in real life.

In our new fashion tech lab, The Foundry powered by IFA Paris, we are uniquely placed to consider what fashion tech can do to take wellness further. We work with start ups and students alongside more established brands. This means that Millennials, Gen X, Gen Z and all the other generations all have an input and the brilliant thing is the way that each person brings their own thoughts and considerations to the table. The established brands find themselves disrupted by student's ideas, and the students can learn a lot from the brands. Our own community is a fertile ground to create new fashion products that will improve the way that people live. Fashion tech is the future - let's make it a healthy and happy one.

Chat to myself and the team at hello@beyondform.io or visit the website at beyondform.io

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Wellness and Fashion Tech: A Combination that Does Wonders

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A MODERN ANCIENT CONCEPT Wellness is a new term for an ancient concept: taking care of oneself. Wellness isn't just about health and fitness: how fast we can run or how many cardio classes we fitted in at the gym this week- although that's part of it.

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Wellness Trends in Fashion: A New Turn In Retail Experiences | Vue.ai Blog

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Wellness Trends in Fashion: A New Turn In Retail Experiences

In a time where cataloging every aspect of life on social media has become the norm, more consumers seek to enjoy and flaunt the new luxuries of looking great, feeling good, and sleeping well.

However, wellness is undoubtedly more than just a trend today. The wellness industry is valued at a whopping $4.2 trillion , representing as much as of the global economic output. People want to eat healthily, exercise regularly, and monitor their health - making it safe to say that wellness has become a way of life now. And although this behavior seems evident across age groups, millennials are clearly the ones driving the wellness trend. For this consumer group, wellness is a daily, active pursuit - one they are willing to spend on. This is justified by the fact that as many as of millennials prefer to spend on experiences rather than on physical things.

So, many brands have been working toward capitalizing on this potential for increased wellness spending through immersive retail experiences that are about fitness and more.

Here are a few fashion labels that have gone above and beyond with their retail experience using wellness as a hook.

Bandier

In an era where the survival of brick-and-mortar stores is dependent on how innovative their retail concepts are, upscale activewear fashion label Bandier is killing it with its unparalleled retail experience!

When it comes to apparel, its stores offer the best of the best - right from curated selections by emerging labels the world over to exclusive, limited-edition products from established brands like Nike, Reebok, Adidas, and Under Armour. And if that isn't enough, Bandier is also a hot favorite among celebs like Kim Kardashian and Liv Tyler, making it evidently a much sought-after brand.

One of the main highlights of its retail experience is its three-story, 10,000-square-foot store on 5th Avenue. With only the ground floor of this store housing apparel and sneakers, the rest of it is all about creating a complete wellness experience for shoppers. The mezzanine is a lounge of sorts where shoppers can hang out, listen to music, and attend events or concerts. And after passing a flight of stairs with graffiti all around, consumers get to a fitness studio on the third floor, which is where all the action is really at.

The fitness studio, known as Studio B, is where Bandier offers a host of expertly curated classes from the best fitness instructors in the city - like Nicole Winhoffer and Akin Ainman - for yoga, cardio, and high-intensity training. However, Studio B is about more than just fitness according to the brand's website - "It's about building a forum where the Bandier community can really come together, sweat it out, shake it off, rock out, and enjoy overwhelmingly good vibes. We like to say that Studio B is the place where Fashion, Fitness & Music go to play."

Bandier has also ventured into beauty recently with its SoHo flagship store featuring a sizeable display of bath salts, face masks, hair care products, and an exhaustive skincare range.

Additionally, skincare brand NuFace decided to collaborate with Bandier recently to provide consumers a pop-up spa experience with "fitness for the face" through its signature microcurrent treatments.

The brand has also taken its wellness experience a step further at its recently opened 27500-square-foot Noho flagship store, which doesn't just feature a fitness studio but also a health-focused café and sneaker shop.

Alo Yoga

Since its inception, Alo Yoga has been about fueling a movement to inspire more people to do yoga with its technologically advanced clothing. And that is evident from its website, which , "We live yoga and we love yoga."

While it started off in 2007 with clothing to enhance every yogi's practice, the brand's offerings have also become a favorite among celebrities and the fashion-forward (think Hadid sisters & Taylor Swift) because they are comfortable, contemporary, and not just for the mat. That said, Alo Yoga's wellness experience at each of its is about more than just clothing - it's also about community.

Take its Flagship store in Soho for instance. The two-story wellness sanctuary offers shoppers a host of reasons to keep coming back - a wonderfully sunny yoga studio, a community space, the best Alo collections, and tons of Yogi art on the walls. With yoga at the center of Alo's brand values, it's no surprise that the brand hosts classes by the who's who of yoga in its studio every day in addition to exciting workshops and events to engage its Alo community. Add to this an organic café, which has an entire menu of healthy drinks and snacks - including matcha lattes, Stumptown cappuccinos, Kombucha on tap - and shoppers are flocking to the store to enjoy a complete wellness experience.

Fab Fit Fun

A brand with a unique take on the wellness experience, FabFitFun has managed to carve a niche for itself in the incredibly crowded and competitive subscription box market with its aggressive content plan. With what started close to a decade ago as a lifestyle newsletter and blog, the brand has transformed into a massive wellness subscription-based program with over subscribers currently.

Its flagship product, the FabFitFun Box, offers a curated collection of full-size products (not tiny samples) across beauty, fashion, fitness, home, and technology every quarter. Users can customize the box to suit their needs at prices as low as $50. Every box provides a copy of a lifestyle magazine as well as access to FabFitFunTV (a video streaming service with on-demand wellness videos), daily lifestyle content, an online community, and exclusive sales and shopping experiences throughout the year.

Additionally, the brand's recently launched daily Facebook show offers beauty tips and product suggestions aplenty, while its YouTube channel is an excellent source of useful wellness content with a treasure trove of videos featuring influencers and the brand's partners.

FabFitFun also takes to pop-ups every now and then to complete the wellness experience for its users. Shoppers can curate their own FabFitFun boxes on the spot by choosing from a selection of established and emerging brands while engaging in wellness experiences offered by the brand's partners.

Saks Fifth Avenue

With luxury fashion retail brands on the constant lookout for new ways to engage today's consumers, it makes perfect sense that one like Saks would find a way to make wellness a part of its in-store experience.

Saks revamped its Fifth Avenue store a while ago to become home to a retail space dedicated to health, fitness, and beauty. The wellness sanctuary, known as the Wellery, was created temporarily on the second floor of the store and featured a curated edit of the best products and services in New York City. The move was in line with promoting a healthier and balanced life that today's consumers seek.

The space offered a host of fitness classes and equipment for sale alongside beauty treatments to experience and products for purchase. The fitness classes offered were by fitness experts from Bari Studio and Uma Gaia among others as well as brands like ConBody, which provided a prison-style boot camp using only one's body weight. And for those who sought a unique beauty experience, the Wellery's Blink Brow Bar - which offered services like threading, tinting, lash extensions, and perming - as well as the Sundays Nail Studio - which specialized in nontoxic services like vegan manicures, massages, and guided meditation - were the places to be.

The most interesting wellness experience, however, was the Breathe salt rooms, which offered dry salt therapy to aid in anything from clearing up allergies and skin conditions to improving sleep.

The Wellery also had clothing geared toward fitness and wellness including offerings by golf- and activewear clothing brand Greyson Clothiers as well as home gym equipment by brands like Peloton and Technogym. It even had unique setups such as Parsons Xtreme Golf's golf simulator that allowed visitors to demo the brand's custom-fitted luxury clubs.

Although Saks dismantled the space a few months later, it works to incorporate certain elements of the pop-up in their flagship store.

Well Received Shift in Traditional Retail

With consumers gradually moving toward splurging on wellness as a luxury, fashion brands are responding by transforming their offerings across traditional brick-and-mortar stores to incorporate wellness. Regular shopping sprees are no longer a form of retail therapy. Instead, experiential retail is replacing the traditional formats, and those fashion brands that are evolving with changing consumer demands are the ones most likely to see success. However, with more fashion brands entering the competitive wellness space, the fashion-wellness category is one that will only see more growth with time.

ABOUT THE AUTHOR

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12 Ways Millennials Are Evolving Health And Wellness | Millennial

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The millennial generation, known for its distinct way of life and influence on various industries, is actively shaping the future of health and wellness. This article delves into how millennials are influencing the wellness industry, driving changes that could redefine our understanding of health and well-being.

1. Millennials' Pursuit of Wellness

Millennials are at the forefront of the wellness market, embracing trends like mindfulness and holistic health. Their approach goes beyond traditional healthcare, focusing on preventive measures and overall well-being. This shift towards proactive health management is changing personal habits and influencing the wellness industry's services and products.

2. Technology's Role in Health and Wellness

Millennials' preferences have significantly influenced the integration of technology into healthcare. From mobile apps for booking doctor appointments to platforms offering online insurance quotes, technology is providing new avenues for managing personal health. This digital transformation is empowering individuals to take control of their health journey, making information and services more accessible than ever before.

3. The Rise of Mental Health Awareness

Millennials are often referred to as the "anxious generation," with a strong focus on mental health and self-care. The increased openness about mental health issues is leading to greater demand for services and support, challenging the healthcare system to adapt and provide timely assistance to those in need. This heightened awareness is a significant step toward destigmatizing mental health and ensuring it is a key component of the wellness industry.

4. Shifting Attitudes Toward Traditional Healthcare

Disenchanted with conventional care, many millennials are exploring complementary and integrative health (CIH) modalities. They seek treatments that address the root causes of health issues, reflecting a broader trend of skepticism towards prescription drugs and a preference for natural, preventative approaches to long-term personal health.

5. Impact on the Healthcare System

The millennial generation's health and wellness choices are exerting pressure on the healthcare system to evolve. With predictions that obesity rates among millennials could place additional strain on services, there is a clear need for the system to accommodate the growing emphasis on wellness and prevention rather than solely disease treatment.

6. Wellness as a Lifestyle Choice

For millennials, wellness is not just a concept but a lifestyle. This generation is integrating wellness into every aspect of their lives, from fitness and nutrition to stress management and environmental consciousness. Their choices influence the wellness market, pushing for products and services that align with their values and holistic view of health.

7. Workplace Wellness: A New Frontier

Employers are recognizing the importance of supporting their workforce's health and wellness. Implementing the best workplace wellness programs can lead to improved employee satisfaction and productivity, aligning with millennials' values and expectations for a balanced work-life environment.

8. Integrative and Complementary Health Approaches

A growing preference among millennials for complementary and integrative health (CIH) modalities over conventional care is reshaping the healthcare landscape. They seek natural care and preventative measures, integrating CIH into various life stages, from fertility to prenatal care, thus influencing the wellness industry.

9. The Double-Edged Sword of Information Access

While access to information has enabled greater self-care, it also presents challenges. The reliance on "Dr. Google" has led to skepticism about traditional medical advice, with only a handful of millennials trusting physicians as the primary source of health information. This trend underscores the need for credible online resources to support the wellness industry without compromising professional healthcare guidance.

10. The Obesity Paradox and Its Implications

Despite the wellness-oriented mindset, millennials face the paradox of rising obesity rates due to the convenience of processed foods. Predictions suggest that a majority could be obese by middle age, posing new challenges for the NHS and the wellness market. Addressing this issue requires balancing the ease of modern life with the principles of personal health.

11. Personalized Health and Wellness Plans

In the quest for optimal health, millennials are turning to personalized wellness plans tailored to their individual needs and genetic profiles. This bespoke approach leverages data from wearable technology and genetic testing to create customized diet, exercise, and lifestyle regimens.

By prioritizing personalization in their health journey, millennials are fostering a more nuanced understanding of wellness that acknowledges each individual's unique biological and psychological makeup. This trend is revolutionizing how we think about health and fitness and propelling the wellness market toward more personalized solutions.

12. Sustainable and Ethical Wellness

Sustainability and ethics are becoming increasingly important in the future of health and wellness, with millennials at the forefront of this shift. This generation advocates for eco-friendly wellness products and services, from organic food to cruelty-free cosmetics.

They are not only concerned with their health but also with the health of the planet, driving demand for brands that prioritize environmental responsibility. As a result, the wellness industry is seeing a surge in green initiatives and ethical business practices, aligning with the values of a generation that seeks harmony between personal well-being and global sustainability.

Embracing The Future of Health and Wellness

As we look to the future of personalized healthcare, it's clear that millennials are at the helm, steering us toward a more integrated, technology-driven, and prevention-focused approach. Their influence is reshaping the wellness industry, prompting a reevaluation of traditional healthcare models and fostering a culture where wellness is woven into the fabric of everyday life.

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12 Ways Millennials Are Evolving Health And Wellness | Millennial

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Explore how millennials are reshaping health and wellness, influencing the industry's future and redefining well-being.

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How millennials and Gen Zers shape today’s sportswear fashion

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How millennials and Gen Zers shape today’s sportswear fashion

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New sports habits among millennials influence sportswear brands. Get an overview of the key trends behind today’s athleisure fashion.

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Does The Subscription Model In Luxury Ecommerce Really Work? - Appstle

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Discover the impact of the subscription model in luxury eCommerce. Delve into its potential and viability for upscale brands. Elevate your business strategies for your Shopify store or e-commerce store built on any other platform, using Appstle Subscription's comprehensive guide

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Men can be fanatical about their ties, especially Hermes ties.

And now, just in time for delinquent Father's Day gifters, the French luxury house has launched a new service called the Hermes Tie Society, a very stylish club for tie enthusiasts.

Launching in 10 Hermes boutiques around the nation, including the ones in Beverly Hills and South Coast Plaza, the Hermes Tie Society is actually a tie subscription service tailored to individuals who fill out a questionnaire about their interests (solids or patterns? dogs or cats? serious or fun-loving?) to help salespeople choose which designs to send on a monthly or bimonthly basis.

Membership to The Hermes Tie Society comes with exclusive club benefits, including free necktie delivery, expert laundering, tie reshaping and repairs.

"We started Tie Society for the purpose of service and convenience," says Hermes US CEO Bob Chavez. "Our clients are always so busy and pressed for time. This lets us do all the work for them.... It also also serves as a great gift when you don't know what to give the man who has everything already."

Chavez, who boasts more than 300 Hermes ties in his personal collection, admits that the devotion to Hermes silk runs deep, from the halls of power on Capitol Hill to halls of power in Hollywood.

"One of our favorite stories is the groom who pulled up in his limousine on his way to his wedding and asked us to help him tie his Hermes bow tie! We did, and sent him happily on his way!"

For subscription options (prices start at $180/month), go to Hermes.com.

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Hermes Launches the Subscription Service to End All Others - and It's for Men

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Are you a member of the Hermes Tie Society?

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LUXURY BRAND PERCEPTION AND CONSUMPTION THROUGH GENERATIONS

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LUXURY BRAND PERCEPTION AND CONSUMPTION THROUGH GENERATIONS

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International Journal of Social, Political and Economic Research

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Luxury Perception of Low and Middle Income Generation Z and Their Luxury Consumption Motivations

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Purpose: This study examined Generation Z with low and moderate income levels in terms of their perception of luxury, knowledge of luxurious products and motivation of consuming luxurious products. Design/methodology/approach: The research was conducted in two stages: in-depth interviews and structured observations.

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Subscription based brands for generation X

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Subscription based brands for generation X

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1. Less in numbers

2. Eventually incurred losses

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Sears, American retailer of general merchandise, tools, home appliances, clothing, and automotive parts and services. It is a subsidiary of Sears Holdings Corporation, which, following a bankruptcy auction, was purchased by the hedge fund ESL Investments in 2019.

In 1886 Richard W. Sears founded the R.W. Sears Watch Company in Minneapolis, Minnesota, to sell watches by mail order. He relocated his business to Chicago in 1887, hired Alvah C. Roebuck to repair watches, and established a mail-order business for watches and jewelry. The company's first catalog was offered the same year. In 1889 Sears sold his business but a few years later founded, with Roebuck, another mail-order operation, which in 1893 came to be known as Sears, Roebuck and Company. In 1895 Julius Rosenwald, a wealthy clothing manufacturer, bought out Roebuck's interest, and he reorganized the mail-order business. Sears meanwhile wrote the company's soon-to-be-famous catalogs. The company grew phenomenally by selling a range of merchandise at low prices to farms and villages that had no other convenient access to retail outlets. The initiation of rural free delivery (1896) and of parcel post (1913) by the U.S. Postal Service enabled Sears to send its merchandise to even the most isolated customers. Rosenwald succeeded Sears as president of the company in 1909.

Between 1920 and 1943 Sears owned Encyclopædia Britannica, which it sold through the catalog. In 1924 Gen. Robert E. Wood joined the company and became its guiding genius for the next 30 years. Wood noted that the automobile was making retail outlets in urban centres more accessible to consumers in outlying suburbs and rural areas. To exploit this opportunity, he opened the first Sears retail store (in Chicago) in 1925, and the number of stores increased so rapidly that by 1931 retail sales had topped mail-order sales. The company flourished in the economic boom after World War II and was not seriously challenged as America's largest retailer until the 1980s, when the Kmart Corporation surpassed it in total sales. Wal-Mart eventually surpassed both and became, before the end of the 20th century, the largest retailer in the world.

In the 1980s Sears diversified into such businesses as real estate and financial services, but by 1992 Sears began selling off some subsidiaries in order to concentrate on its lagging core retail operations. It discontinued its general catalog in 1993, and in 1995 it spun off its largest subsidiary, the Allstate Corporation, an insurance company founded by Sears in 1931. In addition to selling household goods, hardware, and clothing, Sears provided repair services for automobiles and for household items such as appliances, electronic equipment, and home heating and cooling systems.

In 2002 Sears purchased the retailer Lands' End for nearly $2 billion. Three years later Sears was acquired by Kmart for some $12 billion, and both became subsidiaries of the newly formed Sears Holdings Corporation, the third largest retailer in the United States. Edward S. Lampert controlled nearly 40 percent of the corporation. Although Sears Holdings remained prosperous, sales at Kmart and Sears stores continued to decline. Lampert subsequently initiated a series of controversial moves, including the buyback of stocks, which some insiders claimed weakened Sears Holdings by leaving it low on cash. In addition, the corporation began selling various assets, and in 2014 it spun off Lands' End. That year Lampert bought a controlling stake in Sears Canada, but it closed in 2018. During this time various Sears stores in the United States were shuttered, and in October 2018 Sears Holdings filed for Chapter 11 bankruptcy protection. In February 2019 a federal judge approved the sale of the holding company to Lampert's hedge fund, ESL Investments, for $5.2 billion.

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Sears, American retailer of general merchandise, tools, home appliances, clothing, and automotive parts and services. Until the 1980s it was the largest retailer in the United States. Sears is a subsidiary of Sears Holdings Corporation, which, following a bankruptcy auction, was purchased by a hedge fund in 2019.

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Generational Media Consumption Trends - Social CSU

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The ever-changing digital media landscape became more complicated during the COVID-19 pandemic, as people of all ages stuck at home relied on digital media to stay informed and entertained. The 15th Annual Digital Media Trends Report by Deloitte reveals changes in media consumption habits across generations, and provides useful information that can guide future efforts when aiming to reach different age groups.

Here's my quick take from the report:

Boomers

Baby Boomers, who were defined in the report as people born between 1947 to 1965, still stick to traditional media, including movies, TV, and print as their main sources of entertainment and news. However, Boomers are a force on social platforms like YouTube and Facebook, where 67% and 78% of the generation are active on those sites respectively as of 2020.

While Boomers are not traditionally considered a priority audience when it comes to digital marketing, the report shows that they do have an active digital presence and strategies to connect with them are as critical as ever. People in this generation are spending more time on the internet than ever before, they rely on video content, are more likely to share content to their large social networks.

Gen X

Gen Xers, born between 1966 and 1982, have habits that are seen in both Boomers and Millennials. This age group is technologically savvy and spends as much time on the internet as Millennials. Get Xers prefer to get their news and current events from social media and TV news at about the same rate, demonstrating their growing interest in getting information from the internet rather than broadcast or cable news. Additionally, this generation had the largest increase in media consumption during COVID-19.

In higher ed, Gen Xers play a critical role: They are the parents of Gen Z, the majority age group of students. Gen Xers spend the majority of their time on YouTube and Facebook, and account for 1.5 billion daily views on YouTube. Think With Google found that Gen Xers are highly influenced by nostalgia, with 75% of them watching videos that relate to past events.

Millennials

Millennials, defined as the age group born between 1983 and 1996, are savvy with technology and enjoy more non-traditional forms of media, including podcasts and streaming services. Millennials were the original pioneers of the internet, and are active across social media platforms, especially Instagram, Facebook, and Twitter.

Because of their savvy internet practices, 72% of Millennials are more interested in personalized, authentic messages, and 75% of Millennials say a brand's social media presence impacts their purchasing decision. This age group listens to podcasts more than any other, and their interest in cutting-edge practices continues to grow.

Gen Z

Gen Z, the age group born from 1997 to 2007, has the widest range of media habits compared to other generations. Social media is the number one way people in this age group get their news, but they also view social media as a place to connect with others who have similar interests. Notably, Generation Z is the first (according to the Deloitte report) to not rank "watching TV and movies" as their main form of digital media consumption, but instead ranked activities like "playing video games," "listening to music," "browsing the internet," and "engaging on social platforms," in that order, as their favorite digital habits. Additionally, the report notes that some of these activities are happening simultaneously.

Generation Z is proving that digital media trends are changing among younger people, and will have a rippling effect on the entire digital media industry and its future practices. Platforms like gaming streaming service Twitch, TikTok, Spotify, YouTube and more might become the best digital mediums to reach Gen Zers, and more traditional efforts might not work as well. Gen Zers are heavily involved with nearly all aspects of internet culture, and their ability to influence it is only growing. Being present in all areas Gen Z is online is critical in remaining in touch with the youngsters.

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Generational Media Consumption Trends - Social CSU

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A look at the habits of media consumption across generations, and what this means for the future of connecting with audiences.

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1. Generation X

2. Generation Y (Millennials)

3. Generation Z

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Gen Xers enjoy the balanced usage of traditional and digital
media with a good spending power. The Gen Y (Millennials) is more digitally savvy and relies very much on smartphones. Gen Zers which are the youngest of all have less spending power as compared to the others but now they have started to enter into the organizations and have started earning. 98% of the Gen Zers own smartphones and heavily bank on the technology and internet.

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Generation Z's consumption patterns differ from those of generations Millennium and X. According to Juodžbalis and Radzevičius' (2016) study, Generation Z refers to those born in or after 1990.

According to Özkan and Solmaz's (2017) study, those born after 1995 spend more time using technology than previous generations. Generation Z, who rely heavily on their families for financial support, are expected to become active consumers in important marketplaces.

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According to a relevant study, Generation Z may account for 40% of luxury goods customers in the next 10 years, with distinct attitudes from previous generations (Bain & Company (2019).

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Today, we observe that the definition of luxury has shifted. During the 1970s and 1980s, firms sought to increase profits by offering premium items to a larger audience. The luxury market was a specialty business for aristocrats, celebrities, and royal families worldwide. Fashion has been around since the early nineteenth century.

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https://blog.hubspot.com/marketing/how-each-generation-shops-differently

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Online stores are seeing a big boost from retail subscriptions as the convenience and tailored experiences offered by digital retail subscriptions lead to a drop in-person shopping for many consumers.

According to a recent PYMNTS Intelligence study, retail subscribers lean toward more of the same subscription type they already prefer, with more than 40% of them reporting making fewer visits to physical stores due to their subscriptions.

This shift in shopping habits presents a significant opportunity for online merchants to innovate their retail subscription offerings and capitalize on evolving consumer expectations, according to " study, produced in collaboration with The Replenish Economy: A Household Supply Deep Dive " sticky.io.

The study further reveals that young consumers are more inclined to heavily depend on retail subscriptions for their day-to-day shopping needs compared to older generations.

Millennials lead this trend at 39%, closely followed by bridge millennials at 38% - both surpassing the overall average of 31%. Following them are Generation Z subscribers at 31%. In contrast, only 24% of Generation X subscribers and 17% of baby boomer and senior subscribers mainly rely on subscription services.

Consumers who heavily rely on retail subscriptions also tend to be the least tolerant of unsatisfactory experiences. For instance, subscribers who opt for scheduled delivery and auto-fill services are significantly more likely, by 5.9 percentage points, to cancel their subscriptions if a merchant cancels an order due to an item incorrectly listed as in stock.

The probability of cancellation increases by 9 percentage points if there are misleading or inaccurate product reviews and ratings. Moreover, payment choices also influence these consumers' decisions. They are 2.9 percentage points more inclined to cancel if a buy now, pay later (BNPL) option is unavailable at checkout and 2.4 percentage points more likely to cancel if digital wallet options are missing.

To cater to consumers' increasing demand for payment flexibility, the report suggests that online merchants should offer multiple payment options. "Accepting modern payment methods such as BNPL and digital wallets can enhance the customer experience and improve subscription retention rates," the report noted.

Additionally, focusing on offering control and transparency in the subscription process as well as offering features like adjustable subscription frequencies, customer approval before renewals, and clear communication of any changes in subscription terms can significantly increase customer satisfaction and retention.

Overall, online merchants have the opportunity to capitalize on this retail subscription trend by offering flexible and engaging subscription experiences that meet evolving consumer expectations. By addressing subscriber concerns, providing payment flexibility, and ensuring transparency in the subscription process, online merchants can attract and retain subscribers in this growing and lucrative retail landscape.

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4 in 10 Millennials Rely Mainly on Retail Subscriptions for Everyday Shopping Needs

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Online stores are seeing a big boost from retail subscriptions as the convenience and tailored experiences offered by digital retail subscriptions lead to a drop in-person shopping for many consumers. According to a recent PYMNTS Intelligence study, retail subscribers lean toward more of the same subscription type they already prefer, with more than 40% of them [...]

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Gen Z Content Consumption Fact Sheet - Content Science Review

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“Gen Z has moved beyond the e-commerce favored by millennials and has become at home with social commerce — the practice of purchasing wholly within a social media platform.” – Forbes

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“Gen Z has moved beyond the e-commerce favored by millennials and has become at home with social commerce — the practice of purchasing wholly within a social media platform.” – Forbes

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Gen Z have been exposed to technology their whole lives. It's no surprise they navigate online platforms like it's second nature. This generation's age bracket includes anyone born between 1997-2012; the oldest among them are now entering adulthood. They are the first true generation of digital natives, growing up in the age of smartphones and constant connectivity.

What Content is Gen Z Consuming?

Nearly all (95%) American teenagers aged 13 to 17 report using TikTok, with 16% saying they use it almost constantly. - Pew Research Center

Shopping and Purchasing Habits

In Gen Z, aged 15 to 22, 63% of respondents rank high-quality products among the most important factors that encourage them to spend more on a brand, while 45% said they spend more on a brand when a friend or someone they know shops there. - Bluestone PIM

You'll stand the best chance of capturing as many customers as possible if you follow an omnichannel strategy. Although this is true of all generations, it's especially so when it comes to Gen Z. They use many different channels to shop (including social media), and they respond well to personalized experiences/messaging. - Talon.One

Topics of Concern for Gen Z

Social change is a priority for Gen Z, who are often stereotyped as social justice warriors. - Nonprofit Pro

I think there's a real authenticity to the Gen Z generation in saying they want to breathe new life into what corporate responsibility looks like. And one of the biggest elements that's come out of the research in the last few years has been the focus on values. They're looking beyond tangible products and actually trying to understand what is it that makes the company tick. What's its mission? What's its purpose? And what is it actually trying to build for us as a society? - McKinsey

Gen Z most closely mirrors millennials on key social and political issues, but without much of the optimism; More US Gen Zers than any other generation (68%) feel the US is headed in the wrong direction. - Insider Intelligence

Additional Factors Influencing Gen Z

Gen Z tend to be comfortable with collating and cross-referencing various sources of information. According to Google, 74% of Gen Z search for information online and 47% of those are looking to verify specific information.

Conclusion

Gen Z is focused on individual expression and identity in their content consumption . They are more likely to advocate for specific causes that they have researched through online media platforms. And they are more open to discussion with others of differing values and belief systems.

Gen Z places great emphasis on company ethics. They are more likely to purchase from a brand with trusted ethics and more likely to boycott brands they deem problematic. Gen Z also shows a strong aversion to causewashing, opting for brands they think are more genuine.

Their habits will evolve as the generation ages, but for now, it's safe to say that social media, music, and video games remain key ways to reach Gen Z. The rise of Gen Z as a marketing demographic and a participant in the workforce have already had significant effects on content trends.

Events, Resources, + More

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Gen Z Content Consumption Fact Sheet - Content Science Review

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Get key facts about Gen Z audience segments and online content consumption habits for Generation Z.

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Luxury consumption has been present since ancient civilizations, with the first luxury brand products appearing in England in the 19th century. Technological advancements and the growing middle class have led to a gradual increase in demand for luxury products. The luxury market has grown at a rate of 10% annually since the 1980s, reaching 1.3 trillion Euros by 2019. However, the market shrunk by 20-35% in 2020 due to the COVID-19 outbreak. The market is expected to recover gradually over the next three years, reaching an estimated 320-330 billion € by 2025.

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millennial and Gen Z generations interest in curated subscriptions to products or services

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millennial and Gen Z generations interest in curated subscriptions to products or services

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May 7, 2019
This story was originally written by Daren Fonda and published on the cover of Barron's on May 6, 2019 titled, "5 Stocks to Ride the Coming Wave of Millennial Spending".
"The store is just sick."

Oscar Quinones, 28, was in Nike 's flagship store on Fifth Avenue in Manhattan, and he was speaking out of reverence, not disgust. The store has a design studio on the top floor where experts dole out advice on fit and fabrics and how to use Nike gear.

"I walk in and see all the parts of the shoes, how they're made, and how Nike comes up with their designs," Quinones, a nursing student from the Bronx, told Barron's. He was there to pick up his 17th pair of Nikes, the first ones he had designed and customized online: a glow-in-the-dark Kobe A.D. sneaker with the initials OQ stitched on the heels.

Millennials like Quinones are being aggressively wooed by Nike (ticker: NKE) and other marketers, and for good reason. The millennial generation, consumers in their mid-20s and 30s, is overtaking the baby boomers as the largest generation of shoppers in history. By 2020, millennial spending will account for $1.4 trillion in U.S. retail sales, according to the consulting firm Accenture . That will be a quarter of the estimated $5.7 trillion total, according to eMarketer.

This year, the oldest millennials are turning 38-a prime age for young families and household formation. Spending tends to rise with income as consumers reach their late 30s and 40s, and then tapers off in their 50s, according to Census Bureau data. The youngest millennials, in their early 20s, are finishing up college and graduate school and are entering the workforce at a time when jobs are plentiful and demand for young workers is the strongest in years.

The maturing of the millennials will lift spending for all sorts of industries and companies-a powerful demographic tide that should continue rising as the population grows and workers enter their prime earning years.

"Clearly, one would expect millennial spending to increase healthily over the next decade or so," says Richard Fry, a senior researcher with the Pew Research Center.

The demographic changes aren't all positive. Baby boomers are spending less as they age into retirement and live off their savings, and Gen X consumers in their 40s and 50s aren't as large of a generation, creating a consumption gap.

Millennials will eventually pick up the slack as their incomes rise, but it won't happen overnight. In the meantime, investors should seek the industries and companies with "niche demographic tailwinds," says Pat Tschosik, an analyst who studies demographic trends with investment-research firm Ned Davis Research. Companies that can benefit from millennial demand-that isn't offset by declines from the boomers or Gen Xers-are in the demographic sweet spot.

How do investors take advantage of these shifts?

One could invest in companies whose growth is being fueled by millennial spending, but that is a scattershot approach to what is a vast universe. Companies as different as Amazon.com (AMZN) and General Motors (GM) get pitched as investments because of "secular" demand by millennials.

Some exchange-traded funds bundle it all together. The Global X Millennials Thematic ETF (MILN) holds about 80 stocks that have a "high likelihood of benefiting from the rising spending power and unique preferences" of millennials. It consists of companies like Alphabet (GOOGL), Costco Wholesale (COST), Facebook (FB), Starbucks (SBUX), and Walt Disney (DIS). Another ETF, Principal Millennials Index (GENY), holds a basket of global growth companies, including an Australian education business, Navitas (NVT.Australia), the Japanese retail giant Fast Retailing (9983.Japan), and Chinese internet stocks Alibaba Group Holding (BABA) and Tencent Holdings (TCEHY).

While millennials certainly matter to these companies, they are hardly the only drivers of the stocks. Valuations, competitive pressures, and earnings are likely to be as influential as a generational shift in spending.

Barron's has identified five stocks that should benefit from millennial spending and are attractive for other reasons, as well. Here are our millennial plays, two well-known big names and three smaller, more speculative picks:

Subscription services, as Barron's highlighted in a December cover story, are thriving. Millennials aren't the only ones behind the trend. But plenty of research indicates that young people prefer to rent products and services more than older generations. According to Accenture, 77% of both the millennial and Gen Z generations say they are interested in curated subscriptions to products or services. Legions of companies are now adopting subscription-revenue models for products as varied as furniture (IKEA) and electric-toothbrush heads (Philips).

That's the opportunity for Zuora (ZUO), a small but fast-growing software company. Zuora sells a cloud-based platform to handle back-office functions for subscriptions, such as billing, revenue recognition, and analytics.

Its customers include auto makers GM, Ford Motor (F), Kia Motors(000270.South Korea), and Toyota Motor (TM); HBO Go (the direct-to-consumer service); office-productivity company Box (BOX); and Caterpillar(CAT).

Caterpillar's mining earth movers, for instance, are operated remotely with GPS and robotics. Companies pay subscription-based fees for maintenance and upgrades of the equipment, and the company uses Zuora to handle its subscription revenue. Trucking companies are also using subscription software to keep track of hours and miles driven, with Zuora as the go-between.

The idea is to "sign up new customers, increase spending per customer, benefit from increased customer usage, and retain as many of those customers as possible," says David Meier, a portfolio manager with Motley Fool Asset Management, which owns Zuora in the MFAM Small-Cap Growth ETF (MFMS).

Zuora's sales are expected to reach $292 million in its fiscal year ending in January 2020 from $235 million in fiscal 2019. Analysts expect the company to lose 43 cents a share this fiscal year. Yet the losses are narrowing as revenue increases and cash flows cover more of its operating expenses. The company has more than enough cash on its balance sheet, at about $180 million, to sustain the business for several years without another equity issuance.

"This is a growth story," says Scott Berg, an analyst with Needham who has a Strong Buy rating on the stock with a $30 price target from a recent $21.50. "They're targeting investment over profitability near term."

Zuora's end market will be one of the fastest-growing in enterprise software over the next five years, he says, expanding at a 25% annualized rate. Its revenue should grow at roughly that rate, Berg estimates. The valuation looks reasonable, with the stock trading at 5.8 times enterprise value to sales, slightly below the median for software-as-a-service companies.

Zuora CEO Tien Tzuo tells Barron's that profitability isn't the company's near-term priority. "We see this is a long-term game," he says. In the auto industry, he says, subscription models and car-sharing will be far more prevalent a decade from now, requiring subscription software to handle the billing and other tasks. He also sees growth for subscription software with the rise of connected devices like internet-enabled thermostats and the broader Internet of Things.

Subscription-based revenue models are growing at five times the pace of the average S&P 500 index company, he says. If he is proved right, Zuora's stock could double over the next five years.

Whether or not luxury department stores survive, millennials are likely to buy more luxury goods online. By 2025, 25% of luxury items will be bought online, up from 10% in 2018, says the consulting firm Bain & Co. Much of that growth will be driven by millennials and Gen Z, who will account for 45% of total luxury sales, up from 32% in 2017.

Farfetch (FTCH) aims to profit from the spending wave. An online platform for luxury brands, the site is a mash-up of fashion magazine and high-end boutique. Shoppers can browse hundreds of brands or buy the style "edit" of celebrities like Chloë Sevigny, who recently showcased a Gucci tweed coat ($4,980) and Miu Miu leopard-print trench coat ($3,650).

Fashion is a globally inefficient industry: Small boutiques and brands in Europe, Japan, and other regions handle cross-border sales, shipping, and inventory management in small batches. Farfetch provides all of that on a global scale, including same-day delivery in 18 global cities. Luxury brands work with Farfetch because it gives them control of listings, allowing them to maintain pricing and "consumer perception," Oppenheimer analyst Jason Helfstein wrote in a recent report.

Farfetch is gaining traction. The total value of merchandise on the site reached $1.4 billion in 2018, up from $910 million in 2017. Active users climbed to 1.35 million from 936,000. Farfetch has also been acquisitive, buying a Chinese luxury platform from JD.com (JD) and a premium sneaker and streetwear marketplace, Stadium Goods.

Farfetch went public in September at an initial price of $20 and trades around $25. Company insiders own more than a third of the shares, and the stock could face selling pressure after the lockup period, which expired on March 21. Other risks include a slowdown in sales in the Middle East and Asia-Pacific, fast-growing regions for the company. Analysts expect the company to lose 61 cents a share in 2019 and 45 cents per share in 2020. The shares trade at about 11 times sales, a 50% premium to the industry, according to FactSet.

But Farfetch has no debt on its balance sheet, $850 million in cash on hand, and minimal inventory. Sales are expected to increase 30%, to $1.1 billion in 2020 from $822 million this year. Helfstein estimates that Farfetch will turn a modest profit of $20 million in 2022, based on adjusted earnings before interest, taxes, depreciation, and amortization.

The business looks defensible against Amazon.com, says T. Rowe Price fund manager Jay Nogueira. "The high-end brands don't want to be on Amazon," he says. "The addressable market for Farfetch is massive, and platform companies like this will be winners."

Housing should get a boost as millennials form households and have children.

Millenials have moved out of their parents' homes (with 85% no longer living at home). And they appear to be buying after years of renting; owner-occupied households increased to 64.8% in late 2018 from 62.9% in early 2016, while renter-occupied households dipped by 1.9 percentage points, according to the Census Bureau. Tschosik estimates that there is pent-up demand of at least two million housing units by millennials who had delayed buying because of the recession and weak job market.

Home builders targeting first-time buyers, such as KB Home (KBH), should see some benefits from this wave. But first-time buyers are more likely to purchase older homes; new construction tends to be more expensive, and the average age of a new-home buyer is 47, making a new house more of a trade-up.

That should benefit Home Depot (HD), as millennials buy older homes and fix them up. Household spending on home improvement tends to be highest in the first couple of years of ownership. And in a strong economy, with wages and home prices on the rise, discretionary budgets should be healthy enough to support spending on remodeling.

Home Depot's stock has lagged behind the broader market over the past year, gaining about 8%. Wall Street's sentiment on the stock has soured a bit as the housing market weakened and the company missed estimates for same-store growth in its last quarter. The stock trades at its average valuation over the past five years, about 20 times forward 12 months' earnings.

Yet the retailer's core sales trends still look healthy. The company expects same-store sales to increase 5% in 2019, similar to its growth rate in 2018. Spending on home improvement should continue to rise, especially if interest rates come down another notch.

Home Depot also has better locations than its chief rival Lowe's (LOW), RBC analyst Scot Ciccarelli says. More of HD's stores are located in dense urban areas, supporting higher foot traffic per store and stronger sales to professional contractors, one of HD's faster-growing and higher-margin businesses.

Home Depot's stores are also concentrated in areas with higher household incomes, all of which may give it a structural advantage over Lowe's, Ciccarelli says. And Home Depot is investing heavily in e-commerce to fend off Amazon; the company is spending $1.2 billion over the next few years to expand distribution of big or bulky goods with same- or next-day delivery.

The stock isn't likely to outperform if the macro climate for housing deteriorates. But the demographic elements look favorable, and there should still be upside in the stock if the company can execute on plans to improve same-store sales and margins. The stock yields 2.7% and the company recently authorized a $15 billion share-repurchase plan, equal to about 7% of its market value. Ciccarelli sees the stock reaching $223 over the next year, up from recent prices around $200, based on a multiple of 22 times estimated 2019 profits.

Families moving from apartments to houses tend to ramp up spending on home furnishings. That's advantageous for Lovesac (LOVE), a small company that makes modular couches called "sactionals."

Lovesac's couches and other furniture can be reconfigured, accessorized, and customized into thousands of arrangements like interlocking Lego pieces. The cushions are made of recycled bottles-appealing to millennials who want sustainable products-and the furniture doesn't have to be tossed in the landfill or sold on Craigslist as people move from apartments to larger living spaces.

"They're a disruptive name in the furniture space," says Brian Bythrow, portfolio manager of the Wasatch Micro-Cap Value fund (WAMVX), which owns the stock. Lovesac derives most of its sales from showrooms, online, and shops-in-shops within Costco. It has gross margins of 55%, well above rivals like RH (RH) at 40%.

Lovesac went public in June 2018 at $16 and now trades at $42. Analysts expect the company to lose 22 cents a share in the current fiscal year, which ends in January 2020 and earn seven cents a share in the next fiscal year. The stock trades at three times enterprise value to sales, well above average for furniture retailers.

Lovesac, however, is expanding rapidly. It is expected to report $239 million in fiscal-2020 sales, up 44% from fiscal 2019. The company is running at close to break-even because it is plowing revenue into expanding the business, Bythrow says. "We're in a period where investors are rewarding companies that reinvest for growth," he says. "That might change. But you can get by with that today."

Nike's appeal rests on spending assumptions by millennials, along with moves the company is making to refresh its product lineup and retail shopping experience. The company is deploying its vast financial resources to blend digital shopping with in-store experiences, says Jill Standish, head of retail for Accenture. "The Nike store experience is very Instagrammable," she says.

The ability of consumers to design their own sneakers at kiosks at flagship stores is helping Nike fend off Amazon and other pure online retailers. Nike's SNKRS app is also resonating with young shoppers, says Camilo Lyon, an analyst with Canaccord Genuity, and the company is doing a good job of driving sales through a combination of digital and in-store experiences.

"Nike is focused on driving the consumer experience across all components of their business," he says.

Lyon points out that Nike's innovation machine is cranking up; it includes the launch of a new cushioning platform in running shoes and a renewed focus on women's apparel and footwear (such as its Air Max Dia shoe).

Nike also plans to drive innovation down from its upscale footwear to "core" sneakers priced below $100, an initiative that could take share from Under Armour (UA) and Skechers USA (SKX).

"Among the publicly traded companies, Nike has made the sharpest turn in strategy to address the millennial demographic and the changing landscape of shopping behavior," Lyon says.

Nike stock, to be sure, looks pricey at 33 times earnings for the fiscal year ending in May, according to consensus estimates. That's well above Nike's five-year average price/earnings ratio of 23, and it is a steep premium to the market's P/E of 17. Still, Lyon notes that Nike's multiple has a history of expanding when profit growth is accelerating. Analysts expect year-over-year earnings growth to jump from 4.9% in fiscal 2019 to 19.2% in fiscal 2020.

The company's latest quarterly results portray broad-based strength with sales up 11% (in unadjusted currency terms) over the prior year. The company is exhibiting price resiliency with gross margins up 1.3 percentage points, to 45.1%, driven by higher average selling prices and growth in direct-to-consumer sales.

Moreover, Nike is strong enough financially that it can afford to buy back a large amount of its stock. It just embarked on a four-year plan to repurchase $15 billion worth of shares, about 11% of its $134 billion market value. The stock has advanced 15% this year to $85.50, but Lyon sees further upside to $96 over the next 12 months.

That path will be made possible by customers like Quinones, who was picking up his sneakers at the Nike store in New York. He played around with the hundreds of color, material, and embroidery options in the Nike app before heading to the store to get his unique pair.

Visiting the store and seeing everything in action keeps him coming back. "It definitely makes me spend more money at Nike," he says.

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Millennial Spending Drives the Growth of The Subscription Economy - Zuora

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May 7, 2019 This story was originally written by Daren Fonda and published on the cover of Barron's on May 6, 2019 titled, "5 Stocks to Ride the Coming Wave of Millennial Spending". "The store is just sick." Oscar Quinones, 28, was in Nike 's flagship store on Fifth Avenue in Manhattan, and he was speaking out of reverence, not disgust.

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The impact of millennial sports habits on sportswear brands

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In recent years, athleisure sportswear has gained traction in fashion, thanks to experience-loving millennials and gen zers, thirty-something and under, who value multi-purpose design and pleasure over performance. Sports practices have followed their same versatile demand. Not all are top athletes but working out remains a priority for them. Paying on average a staggering $112,000 throughout their entire lifetime, American millennials spend more money on fitness than college tuition.

Unlike their parent's generation, they want "quick and easy" training sessions with a solid tribe mentality.

While millennials and gen zers exhibit differences in how they consume sports, they do share a blurred notion of "sports", including non-traditional ones, like fitness, biking or skating and odd skilled activities like e-sports.

As "surpassing oneself" becomes an old-fashioned concept, sportswear brands need to learn how to engage with young audiences and spread inclusive messages which speak to both the zero and the hero.

Millennials and gen zers appear to be real sports fans and active players, but their consumption differs from their elders.

According to NPD, 95% of millennial cohorts are active and nearly 30% identify themselves as core athletes (3 times that of the overall US population).

In recent years, brands have increased their profits by delivering youth-focused sportswear with an emphasis on design and comfort. As a result, performance shoe sales have dropped in favor of trendy athleisure footwear.

Puma put a focus on running and gained major notoriety among women thanks to celebrity endorsements from Rihanna and Selena Gomez, while Adidas and Reebok carved out a niche in the fitness industry.

For the previous generation X, sports used to rhyme with championships, TV broadcasts and exercising within an official federation. Contrary to the new generation, they played less sports and hardly ever changed activities.The search for performance and a competitive spirit were their core motivations and elliptical machines and treadmills a necessary burden.

The 2016 IHRSA Health Club Consumer Report found that millennials in particular prefer specialized classes like cross-training, pilates and yoga.

Tim Elmore, Gen Z expert and bestselling author on new generation leadership, stated that "While millennials used to like sports and adventure, gen Zers see sports as a wellness tool and whose games are played indoors."

According to Tom Corve, director of the Sports & Fitness Industry Association, "they say I run but I'm not a runner". What is most striking to the older generation, is that young people tend to bundle multiple sports experiences together and crave more personalized training.

To meet the flexibility that kids want, fitness clubs are now increasingly offering on demand sports sessions with a tailored offer based on the individual's objectives.

As a consequence, sportswear brands are nurturing their own athletic clubs to deliver an unexpected experience to the sports community where team-spirit is king.

The Just Do It Sunday Run enables Nike to connect runners virtually, while Outdoor Voices organizes the OV Jogger's Club, a weekly jog departing from 9 US local stores, where "all

paces are welcome" for a 2,6 mile jog around a trail. By doing so, the brand echoes its instagram signature, where #doingthings is what matters.

This action enables brands to meet their audience and help clients to test the products in real conditions, which in turn helps their R&D departments.

Millennials value outdoor sports, like running, cycling or bootcamp, where discovery and challenges prevail. Gen zers, on the contrary, see sports as a holistic wellness routine and a meritocracy symbol often played in-doors and in groups.

These digital-natives are keen on using sports apps to add more fun to their efforts and sharing data with their sports community, like heart rate, burnt calories, distance traveled or speed. One young person out of 3 shares content from a fitness app at least once a week.

With the athleisure trend being fueled by aspirational brand coolness from the likes of Supreme, Vans or Palace, skateboarding has become, in recent years, the leader of the pack among appealing streetwear designs for gen zers. Currently, the skater and lifestyle brand, Vans, and its iconic old-skool low-tops are benefiting from a 90's retromania and are literally flooding the high streets on kid's feet, even those who have never set foot on a skateboard.

This skater-mania has directly impacted sneaker sales. According to the NPD Group, six years ago, basketball sneakers accounted for 13% of US sales. Today, they are down to about 4%.

Skateboarding's roots lie in the 1960's surf culture, with a focus on adventure, creativity and determination. The do-it-yourself (DIY) mentality flourished as skaters began customizing their own boards, adding wheels to wooden planks and modifying their sneakers with markers, scissors and dutch tape.

In the late 70's, Vans finally acknowledged skaters with offerings such as the "sk8-hi" and "old skool" models.

With the rise of punk, gangsta rap, and grunge music in the 1980's and 1990's, skateboarding started to embody the anti-corporate and anti-establishment values of the times. Now brands see it as an urban anarchy culture which has found an audience in rebellious youth.

The sport epitomizes the streetwear genesis and began manifesting itself in some basketball crossovers, with Nike and Adidas releasing skater-friendly sneakers.

Supreme, founded in 1994 by James Jebbia, is generation Z's favorite skater brand and is in high demand, with some shoppers willing to pay premium prices for the most coveted products. The brand, ranked 7th among upper-income teens' favorite brands in a spring 2018 survey by Piper Jaffray.

It started as a skater-centric brand before becoming a mainstream streetwear brand with its own cult following and is now a mainstay among gen zers favorite hip-hop idols.

In 2002, Supreme launched a limited-edition drop of new, padded Nike Dunks, labeled SB at the New York store with colorways referring to famous skateboarders such as Gino Ianucci, or Danny Supa. With the 1980's retro sneaker trend beating once again, Nike decided to go back to what had made it popular to begin with to get back on the skateboarding map: basketball sneakers in bold color combinations.

The Air Jordan 1, a female-inclusive sneaker model, was worn by skaters all over the world thanks to its exposure in the 1987 movie The search for Animal Chin, starring Tony Hawk, Lance Mountain, Mike McGill and Steve Caballero. It was a suitable, affordable option for skater kids and the colors were just right.

Among millennials and gen zers, sports preferences on the field and on the screen have evolved from more traditional, outdoor, organized team sports, like football, soccer, baseball and hockey, to fitness, skating, cycling, water sports and volleyball.

That's why the Adidas Originals Season 5 athleisure capsule collection with Alexander Wang encompasses products mixing both fitness and cycling gear.

The Olympic Games could help sportswear brands find inspiration for upcoming teen-led product releases. Four new sports have been suggested in order to rejuvenate the audience by incorporating more urban disciplines: climbing, skating, surfing and even breakdancing.

Hip-hop-inspired battle dancing, which was one of the choreography inspirations for the Gucci Pre-Fall 2017 campaign, gained awareness thanks to the backspins in the 1984 movie, Beat Street, and Netflix's Soultrain-inspired series, "The Get Down".

Japanese B-dancer and Red Bull BC One World Final winner, Ami Yuasa, is a testament to this generation's interest in Break.

While skateboarding seduced millennials-coming-of-age, their little brothers prefer alternative sports inspired by the same riding challenge but much closer to BMX: the scooter. So much so that there are now more scooter riders than skateboarders in America. According to a study on statista.com by the Outdoor Foundation, the number of skateboarders in the US decreased from 10,1 million to 6,4 million between 2006 and 2016, with an even more dramatic drop among skaters aged 6 to 17.

Moreover, US high school girls are increasingly preferring volleyball to basketball. According to the National Federation of State High School Associations, an additional 4133 girls started playing volleyball in 2016, while basketball lost 276 participants.

Statistics compiled by the NFHS show an increase of 4000 volleyball players in that span and a decrease of 23 000 basketball players.

In February, Nike surprised the industry by entering the e-sports tournament arena, behind Adidas and Puma.

The American sportswear brand decided to sponsor the Chinese "League of Legends" Pro league in a four-year deal.

The league consists of 16 teams and has one of the largest followings in the world.

Considering that the NALCS finals brought in a total of 600,000 viewers, and the "League of Legends" tallied 100 million unique viewers, E-sports now drive more viewers than the American Super Bowl.

It shares skills with other common sports like tactic definition and game mechanics.

Like other sports, athletes can get hurt and suffer from carpal tunnel syndrome but also wrist and finger ligament inflammation.

In these competitions, expertise makes it possible to reduce the amount of uncertainty.
Questions or feedback? Email us at info@heuritech.com
Our artificial intelligence solution enables fashion brands and especially sportswear brands to expand their consumer insight through visual recognition and deliver the right products to the right target.

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The impact of millennial sports habits on sportswear brands

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New sports habits among the younger generation influence sportswear brands. Get an overview of the key trends behind today's athleisure fashion.

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"15-20 years ago, the ideal customer profile for luxury brands like Louis Vuitton, Cartier, Channel was those who have gained their own wealth and reached a certain consumption maturity, while today's perfect customers are young luxury lovers aged 20-35" (Yanık, 2011, pp. 62-63).

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Gen Y and Gen Z dominate the luxury market, with Y representing 32% and Gen Z at 8%. They reject traditional wealth stereotypes and prefer luxury experiences, travel, and brands that reflect their individuality and achievements. They expect seamless digital experiences that align with their personal values.

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Generation Y currently accounts for 35% of luxury consumption, with Generation Z potentially making up 40% by 2035, demonstrating unique behaviors and potential to reshape the industry (Bain & Company, 2019)

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Technology and the Clothing Industry on JSTOR

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D. C. Gibbs, Technology and the Clothing Industry, Area, Vol. 19, No. 4 (Dec., 1987), pp. 313-320

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DIGITAL TRANSFORMATION IN FASHION INDUSTRY

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DIGITAL TRANSFORMATION IN FASHION INDUSTRY

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Roger leads the Marketing practice within Deloitte Digital in Switzerland. With over 15 years of experience working mainly with global brands in the fashion and luxury industry, he specialises in helping large organisations drive innovation and in the definition and implementation of digital strategies.

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Digital transformation in the fashion industry

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The fashion industry is facing new challenges as a direct result of the rise of technology and its impact on consumer behaviour and must adapt by way of digital transformation.

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The vast majority of consumers use digital channels before, during or after making their purchases.

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The vast majority of consumers use digital channels before, during or after making their purchases.

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Alpha, whose founders come from Kering and Nike, is a duo of apps for luxury associates and their clients that could change how brands and consumers interact.

Digital clienteling was the must-have tech of luxury last year. A new app is hoping to turn conversations between luxury store employees and customers on its head by building an ongoing personalised relationship, accessible across many luxury brands.

Alpha, designed for digital personal service, launches today in the US and Italy, created by a team who worked on Kering's proprietary associate app Luce, which is used across Kering's brands. There are two versions, one for each side of the purchase, designed to make clienteling universal for luxury, replacing one-off branded apps, which makes the customer experience smoother and more habitual and gives brands access to more robust customer profiles. A key aim is to keep the conversation going after a client has left the store; while in store, associates prompt the customer to connect on the app, then can follow up with suggestions allowing customer feedback and enabling further shopping and personalised conversations.

The concept is called "connected clienteling," says San Francisco-based co-founder Roberto Tagliabue, who previously served as director of digital innovation at Nike and founder and CEO of digital design agency Awake. He founded Alpha with Florence-based Marcello Vignocchi, the former innovative solutions director at Gucci before becoming mobile apps product director at parent-company Kering. The idea began when the pair worked together on the development of Luce. They decided to build an app that could be used across brands, to communicate with customers and access their preferences, while fostering a long-term relationship between clients and associates, particularly the big spenders.

Clienteling - personal styling and shopping services designed to foster on-going relationships with high-spending customers - is a key sales driver for the luxury industry. Even before the pandemic, brands and retailers had identified high-spending, loyal customers, rather than periodic shoppers or one-off purchasers, as a key area of focus.

At Neiman Marcus, for example, 40 per cent of its business is from customers who spend more than $10,000 a year. In 2020, Mytheresa's top 2.6 per cent of customers generated approximately 30 per cent of its gross sales; and Farfetch says its top tier of clients, who spend at least $12,000 a year, are its most engaged clients. Christina Czap, founder of associate technology provider Seer, says that for some luxury retailers, more than 50 per cent of revenue is driven by the top 5 per cent of customers. A spokesperson for Saks said that personal relationships between its stylists and its top tier of clients are "fundamental to the luxury shopping experience".

To retain these customers and convert additional occasional customers into regular spenders, brands and retailers have worked to increase and improve personalised services, both in-store and virtually. But this can be hard to scale, says Tagliabue.

Most clienteling communication uses the same tools that customers use for staying in touch: Whatsapp, SMS, Facetime, Instagram and Wechat (in China), but these customer-facing platforms make it hard to "connect the dots" to details such as inventory and client preferences, Tagliabue says.

Alpha enters a competitive market. Retailers have been developing, acquiring and subscribing to a host of new tools that aim to improve this process. This has been accelerated amid the pandemic, as digital natives boost VIP services, and associate-centric tools have become a key competitive advantage for luxury brands to continue the conversation.

Burberry developed "R message" in 2019 to extend omnichannel capabilities, including the ability for associates to sell to people who weren't necessarily physically nearby. More recently, Neiman Marcus purchased Stylyze, which makes outfit recommendations based on what customers have looked at or purchased.

Farfetch has been specifically transparent in efforts to cater to high-value customers; to help scale personalised recommendations to lower-tier customers, it has partnered with personal styling startup Wishi, which is backed by celebrity stylist Karla Welch. In its November earnings call, chief customer officer Stephanie Phair shared that Farfetch's active customer growth "crucially" included high-quality customers who are spending more on average and upgrading "access tiers" faster than their predecessors; the number of $100,000 transactions quadrupled in a year, and in October 2021, a $1.3 million transaction set a new record.

Saks, The Webster and Harvey Nichols work with Seer, one of Alpha's most obvious startup competitors, which helps associates design and send shoppable suggestions designed to resemble magazine layouts.

Alpha hopes to differentiate by being a tool used by both customers and associates, and by aggregating communications into one destination so that a customer isn't repeatedly sharing personal information. It also is designed for brands that might not have the scale and budget to build their own tools.

"If you look at the big brands and corporations like LVMH, Kering and Nike, they can take advantage of digital. They have the time, budget and team to take care of those things. If you move just one step lower, everybody else is a total disaster in terms of old solutions or not knowing how to move in the market," Tagliabue says. "We told ourselves this is a good moment to try to put together all our experience in the field."

The founders of Alpha say that they are already in advanced talks with a few brands to integrate and customise the experience, although they say that Alpha is designed to be used "out of the box", meaning that brands can pilot the product without any CRM or inventory integration required. It has closed a "pre-seed" round from its founder and angel investors, and makes money by charging brands a subscription fee based on number of associates and levels of integration and customisation.

While some brands express initial hesitation about sharing access to the same information, such as a customer preferences, with competitors, Vignocchi says that ultimately, the concept of "the network effect" is more convincing, meaning that adoption is higher when people all use the same service, rather than one-off apps.

The founders also note the value of first-person data at a time when data regulations have tightened the types of insights available to brands. The data can be used, eventually, to coach associates on the pace and rhythm of outreach. "The role of the associate is changing completely, and with tech, we can change the habits of the associate to help them focus on high-value activities to save time," Vignocchi says."Their concern is, 'We don't have time.' So we take care of their time."
Clarification: Clarifies in eleventh paragraph that Seer's clients are Harvey Nichols, The Webster and Saks. (14 January 2022)
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More on this topic: Startup spotlight: Seer, the luxury clienteling software VIP clienteling gets a tech makeover
Smartphones are the new salesfloo r

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Inside the new look digital clienteling tool

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Alpha, whose founders come from Kering and Nike, is a duo of apps for luxury associates and their clients that could change how brands and consumers interact.

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Digital Clienteling vs. Manual clienteling

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Digital Clienteling vs. Manual clienteling

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Clientbook · Digital clienteling vs. manual clienteling: What’s the difference?

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Clientbook, for mobile client management solution built specifically for the unique challenges and experiences of retail.

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is another form of digital transformation that can align teams at a fashion brand. Let's look at how and why implementing data-based trend forecasting, or predictive analytics, in the collection planning process is a cross-team effort which benefits designers, merchandisers, and marketers.

This technology is a genuine digital transformation, as it bolsters existing processes in collection creation to render the whole more streamlined. Looking into teams within a fashion brand, how does each team benefit from trend forecasting, a digital transformation in its own right?

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The digital transformation of the fashion industry: Fad or future?

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is another form of digital transformation that can align teams at a fashion brand. Let's look at how and why implementing data-based trend forecasting, or predictive analytics, in the collection planning process is a cross-team effort which benefits designers, merchandisers, and marketers.

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Digital revolution in the fashion industry

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Digital revolution in the fashion industry

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The fashion industry has always been a dynamic and ever-evolving one, driven by changing consumer demands and market trends. In recent years, however, the industry has been experiencing a revolutionary shift - a digital transformation that is reshaping the way fashion brands operate and connect with their customers. This article explores the various aspects of digital transformation in the fashion industry and the impact it has on consumer behavior, organizational processes, and industry values.

Embracing the Digital Revolution

Digital transformation in the fashion industry is more than just a response to technological advancements; it is a strategic shift in mindset and operations that encompasses every aspect of a fashion brand's existence. From the way products are designed and manufactured to the way they are marketed and sold, digital transformation is revolutionizing the industry.

The Changing Consumer Landscape

One of the driving forces behind digital transformation in the fashion industry is the changing behavior and expectations of consumers. In the past, consumers were passive observers, relying on brands to dictate the trends and styles they should follow. However, the rise of digital technologies has empowered consumers, giving them a voice and a platform to express their preferences and influence the brands they choose to engage with.

With the vast majority of consumers now using digital channels before, during, and after making their purchases, fashion brands must adapt to this new reality. They need to embrace digital platforms and technologies to create meaningful interactions, provide personalized experiences, and build strong relationships with their customers.

E-commerce has been a game-changer for the fashion industry, allowing brands to reach a global audience and tap into new markets. With the exponential growth of online shopping, fashion brands need to optimize their e-commerce strategies to meet the rising digitalization and personalization demands of consumers.

The convenience and accessibility of online shopping have reshaped consumer expectations. Today, consumers expect seamless browsing experiences, personalized recommendations, and easy-to-use interfaces. Fashion brands must invest in user-friendly websites, mobile apps, and secure payment systems to provide a smooth and enjoyable online shopping experience.

The Influence of Social Media

Social media has become an influential force in the fashion industry, shaping trends and amplifying the voices of consumers. Platforms like Instagram, TikTok, and Pinterest have transformed the way fashion brands communicate and connect with their audience. They provide a space for brands to showcase their products, collaborate with influencers, and engage with their followers in real time.

Brands that understand the power of social media have the opportunity to create strong brand identities and foster a sense of community among their customers. They can leverage user-generated content, influencer partnerships, and interactive features to build trust, generate excitement, and drive sales.

The Evolution of Brick-and-Mortar Stores

While e-commerce has gained significant traction, brick-and-mortar stores still play a vital role in the fashion industry. However, the digital transformation has impacted the way physical stores operate and interact with customers. To stay relevant in the digital age, fashion brands must reimagine the in-store experience and bridge the gap between online and offline shopping.

Personalization and digitization have become essential elements of the in-store experience. From interactive displays and virtual try-on technologies to personalized recommendations and seamless payment options, brands need to integrate digital solutions into their physical stores to enhance the customer journey and create a cohesive omnichannel experience.

Transforming Organizational Processes

Digital transformation is not just about customer-facing technologies; it also entails a fundamental shift in organizational processes and strategies. Fashion brands need to embrace new technologies and optimize their value chains to stay competitive in the digital age.

Revolutionizing the Value Chain

The fashion value chain encompasses all the activities involved in creating and delivering a product, from design and production to distribution and customer service. Digital transformation offers numerous opportunities to revolutionize each step of the value chain, making it more efficient, sustainable, and customer-centric.

Technologies like 3D design software, virtual prototyping, and digital manufacturing enable brands to streamline their product development processes, reduce waste, and respond quickly to market demands. Supply chain management systems powered by big data and analytics help optimize inventory levels, improve forecasting accuracy, and ensure timely delivery to customers.

Fostering a Culture of Innovation

Digital transformation requires more than just implementing new technologies; it necessitates a cultural shift within fashion brands. To fully embrace digital innovation, organizations need to foster a culture of continuous learning, collaboration, and experimentation.

By encouraging cross-functional teams and promoting a growth mindset, fashion brands can unlock the creative potential of their employees and drive innovation. This includes investing in digital skills training, creating innovation labs or incubators, and providing resources and support for employees to explore new ideas and technologies.

Addressing Changing Values with Digital Solutions

Digital transformation in the fashion industry is not just about improving operational efficiency; it also presents an opportunity for brands to address pressing societal and environmental issues. By leveraging digital solutions, fashion brands can embrace sustainability, diversity, and inclusivity.

Embracing Sustainability

Sustainability has become a top priority for consumers and fashion brands alike. Digital innovations offer a range of possibilities to make fashion more sustainable, from virtual fashion shows and digital sampling to supply chain transparency and circular economy initiatives.

By adopting these digital solutions, fashion brands can reduce their environmental footprint, minimize waste, and create a more sustainable and ethical industry. They can also educate and empower their customers to make informed choices and support sustainable practices.

Promoting Diversity and Inclusivity

The fashion industry has historically been criticized for its lack of diversity and inclusivity. However, digital transformation is opening up new possibilities for change. Technologies like 3D design, digital clothing, and virtual models allow brands to showcase a diverse range of body types, skin tones, and styles.

By embracing these digital solutions, fashion brands can create a more inclusive and representative industry, where everyone feels valued and represented. They can challenge traditional beauty standards, celebrate diversity, and inspire self-expression.

The Future of Digital Transformation in the Fashion Industry

The digital transformation of the fashion industry is an ongoing journey, driven by evolving consumer expectations, market dynamics, and technological advancements. As brands continue to embrace digital solutions, they must remain agile, adaptable, and open to innovation.

The sky's the limit for the fashion industry as it harnesses the power of digital transformation. By listening to their customers, leveraging technology, and aligning their processes and values, fashion brands can create a future where fashion is more than just a product - it is an experience that connects people, fosters creativity, and promotes positive change.

In conclusion, digital transformation in the fashion industry is not just a trend - it is a necessity. Fashion brands that embrace this transformation and leverage digital technologies to enhance the customer experience, optimize their value chains, and address societal challenges will thrive in the digital age. The future of fashion is digital, and the possibilities are limitless. So, let's embrace change, innovation, and the power of digital transformation to shape a more sustainable, inclusive, and exciting fashion industry.

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Digital Transformation in the Fashion Industry: Embracing Change and Innovation

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The fashion industry has always been a dynamic and ever-evolving one, driven by changing consumer demands and market trends. In recent years, however, the industry has been experiencing a revolutionary shift - a digital transformation that is reshaping the way fashion brands operate and connect with

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Note

This article is an archived version of an article published in 2019. Due to data availability, the article and charts will not be updated.

Facebook, the largest social media platform in the world, had 2.4 billion users in 2019. Other social media platforms, including YouTube and WhatsApp, also had over one billion users each.

These numbers are huge - in 2019, there were 7.7 billion people worldwide, with at least 3.5 billion online. This means social media platforms were used by one in three people worldwide and more than two-thirds of all Internet users.

Social media has changed the world. The rapid and vast adoption of these technologies is changing how we find partners, access information from the news, and organize to demand political change.

Who uses social media? When did the rise of social media start, and how has the number of users changed over time? Here we answer these and other key questions to understand the history of social media worldwide.

We begin with an outline of key trends and conclude with a perspective on the social media adoption rate relative to other modern communication technologies.

Social media started in the early 2000s

MySpace was the first social media site to reach a million monthly active users - it achieved this milestone around 2004. This is arguably the beginning of social media as we know it.

In the chart, we plot monthly active users across various platforms since 2004.

Some large social media sites, such as Facebook, YouTube, and Reddit, have been around for ten or more years, but others are much newer.

TikTok, for example, launched in September 2016, and by mid-2018, it had already reached half a billion users. To put this in perspective: TikTok gained, on average, about 20 million new users per month over this period.

The data also shows rapid changes in the opposite direction. Once-dominant platforms have disappeared. In 2008, Hi5, MySpace, and Friendster were close competitors to Facebook, yet by 2012 they had virtually no market share. The case of MySpace is remarkable, considering that in 2006 it temporarily surpassed Google as the most visited website in the US.

Most social media platforms that survived the last decade have shifted significantly in what they offer users. Twitter, for example, didn't allow users to upload videos or images initially. Since 2011 this has been possible, and today, more than 50% of the content viewed on Twitter includes images and videos.

Facebook dominated the social media market for a decade, but five other platforms also have more than half a billion users

With 2.3 billion users, Facebook was the most popular social media platform in 2019. YouTube, Instagram, and WeChat followed, with over a billion users. Tumblr and TikTok came next, with over half a billion users.

The bar chart shows a ranking of the top social media platforms.

Some social media sites are particularly popular among specific population groups

The aggregate numbers mask a great deal of heterogeneity across platforms. Some social media sites are much more popular than others among specific population groups.

In general, young people are more likely to use social media than older people. But some platforms are much more popular among younger people. This is shown in the chart where we plot the breakdown of social media use by age group in the US.

For Snapchat and Instagram, the 'age gradient' is exceptionally steep - the popularity of these platforms drops much faster with age. Most people under 25 use Snapchat (73%), while only 3% of people over 65 use it.

Since these platforms are relatively new, it's hard to know how much of this age gradient results from a "cohort effect". In other words: it's unclear whether today's young people will continue using Snapchat as they age. If they do, the age gradient will narrow.

Let's now look at gender differences.

This chart shows the percentage of men and women that used different platforms in the US in 2021-the diagonal line marks parity. Sites above the diagonal line are more popular among women, and those below are more popular among men.

For some platforms, the gender differences are substantial. The share of women who used Pinterest was 3 times as high as that of men using this platform. For Reddit, it was the other way around: the share of men was twice as high.

In rich countries, almost all young people use social media

From a back-of-the-envelope calculation, we know that if Facebook had 2.3 billion users in 2019, then at least 30% of the world was using social media. This is just an average - usage rates were much higher for some world regions, specifically for some population groups.

Young people tend to use social media more frequently. In fact, in rich countries where access to the Internet is nearly universal, the vast majority of young adults use it.

Our chart shows the proportion of people aged 16 to 24 who used social networks across various countries. As we can see, the average for the OECD is close to 90%.

If today's young adults continue using social media throughout their lives, then it's likely that social media will continue growing rapidly as Internet adoption expands throughout lower-income countries.

The rise of social media in rich countries has come together with an increase in the amount of time spent online

The increase in social media use over the last decade has, of course, come together with a large increase in the amount of time people spend online.

In the US, adults spend more than 6 hours daily on digital media (apps and websites accessed through mobile phones, tablets, computers, and other connected devices such as game consoles). As the chart shows, this growth has been driven almost entirely by additional time spent on smartphones and tablets.

According to a survey from the Pew Research Center, adults aged 18 to 29 in the US are more likely to get news indirectly via social media than directly from print newspapers or news sites. They also report being online "almost constantly".

Evidence shows that in other rich countries, people also spend many hours per day online. The following chart shows how many hours young people spend online across various rich countries. As we can see, the average for the OECD is more than 4 hours per day; in some countries, the average is above 6 hours per day.

Some perspective on how fast and profound these rapid changes are

The percentage of US adults who use social media increased from 5% in 2005 to 79% in 2019. Even on a global stage, the speed of diffusion is striking: Facebook surged from covering around 1.5% of the world population in 2008 to around 30% in 2018.

How does this compare to the diffusion of other communication technologies in today's everyday life?

The following chart provides some perspective.

Social media's growth in the US is comparable - in speed and, to some extent, reach - to most modern communication-enabling technologies, including computers, smartphones, and the Internet.

The rise of social media is an extraordinary example of how quickly and drastically social behaviors can change: Something that is today part of the everyday life of one-third of the world population was unthinkable less than a generation ago.

Rapid changes like those brought about by social media always spark fears about possible negative effects. Specifically, in the context of social media, a key question is whether these new communication technologies are harming our mental health - this is an important question and we cover the evidence in another article on Our World in Data.

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Social media sites are used by more than two-thirds of Internet users. How has social media grown over time?

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1. Shopping malls (1950s)

2. E-commerce (1990s)

3. Social Media (2007)

4. E-commerce growth rate in comparison to retail growth

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For nearly as long as people have existed, they have been sharing, bartering, selling, and consuming resources.

To trace the complete history of commerce back to its inception, we must travel to a time when wooly mammoths still walked the Earth. People exchanged cows and sheep in trade as far back as 9000 BC. The first proper currency extends as far back as 3000 BC in Mesopotamia.

The first retail stores take up the mantle a bit further down the line. By 800 BC in ancient Greece, people had developed markets with merchants selling their wares in the Agora in the city center.

These ruins are of an ancient Greek agora. People would come there not only to shop but to socialize and participate in government.

Flash forward a couple thousand years and we have our modern mammoths: retail giants like Walmart, Costco, and Target.

But what happened in between?

In this deep dive, we're investigating the evolution of retail and retail shopping in America. We'll focus primarily on the post-Industrial Revolution era when retail really took off, all the way up to the Digital Revolution and the game changer that is ecommerce.

What is Retail?

First things first. What do we mean when we say retail?

At its simplest definition, retail is the sale of different goods and services to customers with the intention to make a profit.

Retail includes selling through different channels, so items purchased in store and those purchased online both apply.

The definition of retail is expansive enough that it includes the traveling merchants of antiquity all the way to sprawling shopping malls, big-box stores and ecommerce platforms.

Let's consider how various points on the retail timeline have affected what retail has become, how people shop, and what customers expect today.

The History and Evolution of Retail Stores

We've already looked at some of the earliest history of retail - covering hundreds of years of bartering and peddling in a single bound.

However, now let's look at some (relatively) more recent retail history, how it impacts what we buy and sell, and how we behave today.

1. Mom and Pops: 1700s-1800s.

A "mom and pop" store is a colloquial phrase for a small, family-owned, independent business.

In the 18th and 19th centuries, and particularly by the 1880s, these stores were plentiful throughout the United States. Many of these stores were drug stores or general stores selling everything from groceries and fabrics to toys and tools. People during this time were also expanding settlement across the country and creating new towns. It was not uncommon for each town to have a mom and pop store offering general merchandise that could be purchased for daily life.

While these community-anchoring, catch-all stores are less common, family-owned businesses are still out there. Of the nearly 30 million small businesses in America, 19% are family owned and 1.2 million are run by a married couple.

These stores can use the nostalgia factor and capture customers' desire to support small, family-owned businesses. They can also appeal to customers' desire for personalization and a fun boutique experience that incorporates human connection.

Today, there is something of a generational divide in how people like to shop. Of Baby Boomers who grew up with brick-and-mortar as their default, 72% primarily shop in-store. This is in contrast to Millennials, 67% of whom shop in online stores.

2. Department stores arrive: Mid 1800s - Early 1900s.

The pioneering spirit of people moving west and both opening and shopping at local general stores evolved as the United States moved into the 20th century.

In the late 19th and early 20th centuries, America's business and economic sectors changed dramatically. Agriculture - which had previously been the dominant business - was replaced by manufacturing and industry. Oil, steel, textile, and food production in factories brought new jobs and new standards of living.

With more successful and affluent Americans having broader tastes, department stores like Macy's (1858), Bloomingdales (1861), and Sears (1886) began popping up in cities like New York City and Chicago.

These institutions became fixtures of American life, influencing:

what people bought,

how they furnished their homes, and

what luxuries they felt they needed.

The stores didn't just sell items. They also provided demonstrations, lectures, and entertainment events that appealed to newly wealthy customers looking for how best to use their disposable income.

Today people are still looking for content and experiences as part of their shopping activities that can help influence what they buy. In 2019, brands are finding success in building strong content- and experience-led commerce experiences.

3. Cha-Ching: 1883.

The first cash register.

The first cash register was invented by James Ritty in 1883. Ritty was a saloon keeper in Ohio and nicknamed the invention the "incorruptible cashier." The machine used metal taps and simple mechanics to record sales. A bell sounded when a sale was completed, leading to the phrase "ringing up" - which we still use today.

This invention went on to spark the ease of customer checkout for over a century, as it was quickly adopted for retail sales.

Prior to this, many businesses had trouble keeping track of their accounting and often didn't know if they were operating at a profit or a loss. Over time, advances in cash registers have worked to make them more resistant to theft.

Later POS (point of sale) systems have advanced the cash register industry even further by providing computerized cash registers that can keep track of inventory, process credit cards, and provide multiple connected touch-screen terminals in addition to helping to manage profit margins.

As customers are shopping more omnichannel than ever - including shopping from the same merchants both online and in-store - businesses are also seeking methods to combine POS systems and payment gateways so they can keep track of inventory across channels.

4. Credit takes a hold: 1920s.

Just as it's hard to imagine a store without a cash register, it's equally hard for many to imagine a time when paying in cash was still king.

In the 1920s, credit cards or "charge cards" began to take hold of the American shopper. However, these early cards were usually issued by hotels or individual businesses and could only be used within their companies. The first universal credit card that could be used at multiple establishment was the Diners Club card in 1950.

The first bank-run credit card was started by Bank of America in 1958. Unlike today, a credit card's main use was so people didn't have to travel to a bank and withdraw money to shop. Today it is far more of a bookkeeping/convenience use.

Credit cards are also now much more likely to carry debt as consumers use them to make up for budget shortfalls. According to the Federal Reserve, Americans now have a record $1.09 trillion in credit card debt.

5. Shopping malls: 1950s.

Southdale Center in Edina, Minnesota.

As touched on in the introduction, the concept of malls as central locations where customers can visit multiple merchants has been around since the agoras of Ancient Greece. However, our more modern concept of malls - as physically built shops connected in one location with communal facilities - began in the 20th century.

The first shopping mall was technically an outdoor shopping plaza that opened in 1922 in Kansas City. However, the first indoor shopping mall that mirrored how we think of malls today was opened in 1956 in Edina, Minnesota. Malls were often anchored by a large department store with a cluster of other stores around it.

The growth of these shopping centers was correlated with the growth of automobiles. With cars available to the masses, more people were leaving cities and commuting from the suburbs.

The mall was envisioned as a cultural and social center where people could come together and not only do their shopping but also make an activity of it. By 1960, there were more than 4,500 malls accounting for 14% of all retail sales.

With ecommerce sales growing, the appeal of malls has gradually declined, hitting a 20-year low in sales in 2019. That said, some digitally native brands are still exploring in-person shopping at new mall-type environments. One example is Neighborhood Goods outside of Dallas, Texas, which features a rotating series of pop-up shops from different merchants.

What can we learn from this? While the traditional malls of old are no longer the exciting experience they once were, shoppers still do seek out experiences around shopping both online and offline.

6. Big Box is in: 1960s.

The very first Walmart in Rogers, Arkansas.

While people loved malls for the social aspect and enjoyment of window shopping and moving from store to store, there was also a renewed interest in a return to the one-stop-shop. However, unlike the mom and pop general stores of old, these large stores served bigger populations and provided items cheaply at a much bigger scale.

In 1962 the first Walmart opened its doors in Rogers, Arkansas. Target and Kmart also opened their first stores that same year.

The efficiency and overall size of these indoor giants made them attractive to consumers looking for convenience and friction-free, no frills service. Unlike the department stores of early in the century that provided personalized service and attended to customers' needs, these large retailers were more focused on self service and providing efficiency.

At these big box stores, customers could find the consumer goods they needed, and at much lower prices. This was made possible by changes in the laws after World War II that paved the way for discount retailing.

Big box stores, and specifically Walmart, are still dominating in the present day. Walmart's sales in 2018 were over $500 billio n, and they're projected to grow 3.7% in 2019. Other big box retailers are having to get creative to open new stores, revolutionize current stores, and provide more value in the shopping experience to appeal to customer's increased expectations in an Amazon- and Walmart-dominated world.

7. Ecommerce looms on the horizon: 1990s.

Arguably one of the biggest flashpoints in retail history is the dawn of widespread internet shopping. Amazon was established in 1995 as a simple online bookseller. In 2018, the online retail platform reported a net income over $10 billion dollars.

Clearly, over the past three decades people have jumped onto the ecommerce bandwagon. There are a number of reasons for this. Ecommerce provides convenience and efficiency to the shopping experience and enables shoppers to research, examine reviews, compare prices, and make purchases at all hours of the day.

The growth of ecommerce mirrored the growth of the internet. As more and more people had access to the digital world, they became more interested in shopping there. Initially, some people were skeptical of providing personal data and payment information online, but the development of SSL security protocol in the 1990s helped to assuage those fears.

8. Social media opportunities: 2007.

Facebook, the most successful social media platform ever, has over 60 million active business pages on it. Twitter provides a way for businesses to talk directly to customers, and with Instagram, they can showcase their products in authentic lifestyle situations.

Social media opportunities have been both an opportunity for retail brands to capitalize on and a new challenge for them to conquer. Current projections show that by 2020, 90% of businesses will use social media for a portion of their customer service.

In 2011, Facebook rolled out sponsored stories as a form of early advertising. Marketers could capitalize on the huge amount of data people provide Facebook to target very specific customers. Today, Facebook and Instagram are also channels where brands can sell their products directly.

9. Retail slows while ecommerce grows: Modern day.

This brings us to retail today. Retail sales are growing slowly as a whole. The growth of sales in physical stores in 2018 was merely 3.7%. Meanwhile, ecommerce sales saw a 15% jump. In a decade, ecommerce sales have grown from 5% of the retail market share to nearly 15%.

Customers are hungry for online shopping experiences, but not all ecommerce is created equal. Brands are developing strong multi-channel strategies. Below we'll look at why some businesses are thriving and others are failing to keep up with modern trends and expectations.

6 Important Retail Statistics

As the above walk through retail history illustrates, many of the changes in retail and ecommerce have both influenced changes in human shopping behavior and subsequently been influenced by these same changes. People's lifestyles and needs change, and so too do the way they shop and what they choose to buy. These statistics paint a picture of modern retail but can also help modern businesses predict the future of retail.

1. Retail sales hit $6 trillion in 2018.

Those are some big numbers. Retail spending tells us a lot about how consumers are feeling in the economy. Understandably, during recessions, consumer spending goes down and when people are more confident, those numbers go up.

What's important to remember is that, even with record-high retail spending numbers, not all businesses are seeing a boom. Retailers that aren't keeping pace with technological innovations and customer experience needs are closing their doors.

2. 77% of shoppers use mobile devices to search for products.

Much as people turned to the general store as they pioneered the west, and flooded suburban malls as fast as their new cars could take them, technology fuels major changes in retail. The proliferation of mobile devices is no exception.

People are increasingly using mobile devices not only purchase items, but research and compare prices. Whether you're a retail store or an ecommerce shop, this is good news for mobile advertising and a strong reason to have a mobile-optimized site.

Per the above, retail marketers are taking note of where customers are now searching for and getting their information... and it's not from highway billboards and newspaper spreads. In 2018, digital ads made up 70% of retailers' ad spend. Retailers increased their digital ad spend by almost 19% in just one year.

4. Brick and mortar still owns the retail industry by 4:1.

Physical stores have been a staple of American retail for hundreds of years so, even though ecommerce is growing in influence, it is still not replacing brick and mortar just yet. In fact, brick and mortar still owns (or is projected to own) over 80% of the global retail sales from 2015 to 2021.

Successful ecommerce ventures are finding success in having both an online and physical presence that work together seamlessly. For example, customers could exercise the ability to research online and buy the product in-store or even buy online and pick up in-store.

5. Ecommerce market share is expected to reach 13.7% in 2019.

While people aren't giving up on in-person shopping and experiences by a longshot, the retail market share for ecommerce is on the rise. It's growing quickly enough that it is projected to reach 17.5% by 2021. Overall, this offers opportunities to businesses who want to expand online, improve their online experience, or better sync their online and offline channels.

6. 54% of consumers cite being able to shop 24/7 as a primary reason to shop online.

This statistic really gets at the heart of how changing customer behavior and expectations go hand in hand.

Previously, shoppers were excited about department stores that could provide lifestyle advice and personalized shopping experiences. Then they loved malls and came to expect the convenience of all the stores they wanted being in the same location. Finally, the ascension of big box stores gave them the expectation of a one-stop-shop guaranteed to provide steep retail discounts.

Now, they expect all of these things and the ability to have them while sitting in bed on their phones at 3 a.m.

4 Retailers That Stay Ahead of the Curve

As times change, it's interesting to see which retail brands are able to adapt and thrive and which fall by the wayside. Many of the businesses doing well in the current retail landscape are those that are capitalizing on new technologies or providing a clear customer advantage or experience.

1. Amazon.

Knowing that ecommerce is a growing market, it would be impossible for Amazon - the creator of the most successful ecommerce enterprise in the country - to not be on this list. Each month, over 197 million people globally visit Amazon.com. And in 2018, their U.S. commerce market share was 49%. That equates to a cool 5% of all retail spend in the country.

People flock to Amazon because they can often find lower prices than in stores. Additionally, the free two-day shipping with Amazon Prime has created a whole new standard for shipping speed expectations.

2. Kroger.

Kroger is the leading supermarket operator in the U.S. While their traditional grocery store remains strong with over 3,000 stores and $119 billion in sales in 2018, they have also been making strides in online operations by investing in expanding store pickup locations for online orders and grocery delivery. Other technological advances include a complex mobile app and digitally-enabled shelves that communicate with shoppers through display screens.

3. Walmart.

Walmart still remains the largest retailer, with $387 billion in sales in 2018 across their more than 5,000 stores nationwide. Walmart is continually investing in new technologies, including store-cleaning robots, interactive displays, and artificial intelligence to keep stock levels consistent. Their online Walmart marketplace has also been a huge hit for the ecommerce and online shopping community.

4. Costco.

Costco helped to revolutionize the warehouse membership concept. Their 770 locations don't have a lot of frills (you won't find aisle information signs or bags for your items), but what they do provide is low cost and high quality goods. Even when retail is slowing down, Costco stays ahead of the game, coming in with almost $141 billion in sales in 2018 alone, a 9.7% growth from 2017.

3 Retailers Who Fell Behind

Many mall staples like Abercrombie and Fitch and Footlocker closed dozens of stores in 2018. Landmark department store Macy's is still a cultural beacon, but has itself faced financial uncertainty and 100 store closures over the past couple of years. The following businesses are failing to thrive in the current age of retail.

1. Toys R Us.

One of the saddest moments of the past couple years was Toys R Us' bankruptcy filing. This was the third largest bankruptcy in U.S. history. The failure of the toy store giant is often attributed to a failure to keep up with consumer behavior. Their stores were stocked with inventory, poorly merchandised, and offered limited customer service. Customers who could easily find inexpensive products online, compare reviews, and price match took their business elsewhere.

2. Sears.

Sears was one of the first department stores that revolutionized the way we shop. The Sears Roebuck mail-order catalogue was once the go-to place for Depression Era Americans to buy everything from watches to homes. Flash forward to 2018 and they are being outpaced and underpriced by online retailers to the point that they filed for bankruptcy. Their more than 400 stores will remain open, but they continue to face challenges.

3. Victoria's Secret

This once-popular underwear brand has seen its numbers continue to fall in recent years. They closed 20 stores in 2018 and continue to face an uphill climb. Part of the problem is a failure for their brand to resonate with today's shoppers, as well as increased competition from digitally native vertical brands like ThirdLove and Walmart-owned Bare Necessities.

The Ecommerce Effect on Retail

Ecommerce is obviously having a huge impact on the current and future face of retail. Whether having to adapt to online competitors or updating their digital brand presence, businesses that are doing well are taking note of the following trends.

1. Customers shop for everything online.

More than ever, the ease and convenience of shopping online has become attractive to American consumers. For example, 22% of total apparel sales took place online in 2018, along with 30% of electronics. It is estimated that 20% of grocery sales will take place online by 2020. This has forced companies like Kroger and Walmart to move resources over to an online space, and has helped Amazon continue to dominate.

Almost ⅘ of Americans shop online, a 5x boost from the beginning of the 2000s. If your store isn't online, you'll suffer the consequences. The companies who have chosen brick and mortar AND online options are the ones that have grown.

3. Ecommerce pushed businesses online, but not completely.

The need to walk into a store and feel the products you're purchasing is still relevant. Many people prefer to buy the bulk of their goods at the store, and only buy specific goods online. Brick-and-mortar shopping isn't going away, but ecommerce has made itself an important complementary experience for shoppers.

Conclusion

We've come a long way as a species from the simple days of, "Take this cow in exchange for this bushel of wheat." Customers expect more and more from retailers as time goes on. They want personalized experiences, but also convenience and efficiency. They want discount pricing and fast shipping, but are also willing to pay more for brands they connect with.

As retailers continue to morph and evolve to meet these expectations, they in turn drive new customer behaviors and usher in the next era of our retail history.

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The History and Evolution of Retail Stores (From 1700s to 2021)

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Get The Print Version Tired of scrolling? Download a PDF version for easier offline reading and sharing with coworkers. Download PDF A link to download the PDF will arrive in your inbox shortly. For nearly as long as people have existed, they have been sharing, bartering, selling, and consuming resources.

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How 3D printing is transforming the fashion industry, revolutionizing the way clothes are designed, produced, and customized.

Imagine a world where you can effortlessly design and create your own clothes from the comfort of your own home. This may sound like something out of a science fiction movie, but with the advent of 3D printing technology, it is quickly becoming a reality. 3D printing has taken the fashion industry by storm, revolutionizing the way we design, produce, and consume clothing. In this article, we will explore how 3D printing technology is reshaping the fashion industry, from its basic principles to its future potential.

Understanding 3D Printing Technology

Before diving into the impact of 3D printing on the fashion industry, it is important to understand the basics of this groundbreaking technology. 3D printing, also known as additive manufacturing, is a process that constructs three-dimensional objects by layering materials on top of each other. The process starts with a computer-aided design (CAD) file, which provides a blueprint for the desired object. This file is then sent to a 3D printer, which uses various materials, such as plastics, metals, or even fabrics, to build the object layer by layer.

The Basics of 3D Printing

The first step in the 3D printing process is creating a digital model of the object you want to print. This can be done using specialized software or by scanning an existing object using a 3D scanner. Once the digital model is ready, it is sliced into thin layers, which the 3D printer will then build up one by one. The printer does this by depositing or curing the material in the desired shape, layer by layer, until the object is fully formed. This layer-by-layer approach allows for incredible design freedom and intricate detailing that was previously impossible to achieve with traditional manufacturing methods.

Imagine you want to create a custom-designed piece of jewelry. With 3D printing, you can easily bring your vision to life. You start by sketching your design on paper, and then use CAD software to translate it into a digital model. Once the digital model is ready, you can make adjustments and refine the design until it is perfect. This level of precision and flexibility is what sets 3D printing apart from traditional manufacturing methods.

Once the design is finalized, the 3D printer takes over. It reads the digital model and starts building the object layer by layer. If you were to watch the printer in action, you would see it depositing tiny droplets of material, carefully following the instructions from the CAD file. Layer by layer, the object takes shape, until finally, you have a physical representation of your original design.

3D printing involves creating a digital model sliced into layers, enabling intricate designs and precise object fabrication.

Different Types of 3D Printing Techniques

There are several different types of 3D printing techniques, each with its own strengths and limitations. Some of the most commonly used techniques in the fashion industry include:

These are just a few examples of the many 3D printing techniques available today, each with its own unique advantages and applications in the world of fashion.

For example, Fused Deposition Modeling (FDM) is often used in the production of wearable accessories. Its ability to use a wide range of materials, including flexible filaments, makes it ideal for creating intricate designs that can be worn comfortably. On the other hand, Stereolithography (SLA) is commonly used for creating high-detail prototypes and small-scale production runs. Its ability to produce smooth surfaces and fine details makes it a popular choice for creating jewelry and other fashion accessories.

Selective Laser Sintering (SLS), on the other hand, is often used for creating functional parts and components. It can work with a wide range of materials, including nylon and metal powders, allowing for the production of durable and lightweight objects. This technique is particularly useful in the creation of custom shoe soles, eyewear frames, and even clothing with integrated functional elements.

As technology continues to advance, new 3D printing techniques are being developed, pushing the boundaries of what is possible in the world of fashion. From bio-printing living materials to using recycled plastics, the future of 3D printing holds immense potential for revolutionizing the way we design, create, and wear fashion.

Stereolithography (SLA) is a popular tool for creating high-detail prototypes, small-scale production runs, and jewelry accessories.

The Intersection of 3D Printing and Fashion

Now that we have a basic understanding of 3D printing technology, let's explore how it intersects with the world of fashion. The fashion industry is known for its constant need for innovation and creativity, and 3D printing provides a new platform for designers to push the boundaries of what is possible.

Early Adopters in the Fashion Industry

While 3D printing is still relatively new in the fashion industry, there are already a number of designers and brands who have embraced this technology. These early adopters have utilized 3D printing to create avant-garde designs, unique accessories, and even entire garments. By experimenting with new materials and pushing the limits of traditional design, these pioneers are reshaping the future of fashion.

Case Studies of 3D Printed Fashion

One way to understand the impact of 3D printing on the fashion industry is by looking at some fascinating case studies. For example, Dutch fashion designer Iris van Herpen has gained international acclaim for her intricate 3D printed garments, which blur the line between fashion and art. Her designs showcase the endless possibilities of 3D printing, from intricate lace-like patterns to fluid and organic shapes.

Another noteworthy case study is the collaboration between fashion designer Julia Koerner and sportswear giant Adidas. Together, they created the "Futurecraft 4D" shoe, which features a 3D printed midsole that is not only lightweight and durable but also tailored to each individual's foot shape. This customization and personalized fit are only possible through 3D printing technology.

Iris van Herpen's 3D printed garments blur fashion and art, earning global acclaim for intricate designs and diverse possibilities. | Image Credits:

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Benefits of 3D Printing in Fashion

Now that we have explored the intersection of 3D printing and fashion, let's delve into the numerous benefits that this technology offers to the industry.

Speed and Efficiency

One of the key advantages of 3D printing in fashion is its ability to significantly speed up the design and production process. Traditional manufacturing methods can be slow and time-consuming, involving multiple prototypes and iterations. With 3D printing, designers can quickly turn their ideas into physical objects, reducing the time from concept to creation. This speed and efficiency allow for faster product development cycles and shorter lead times.

Customization and Personalization

Another major advantage of 3D printing in fashion is the ability to create customized and personalized items. Each person has a unique body shape and size, and traditional mass production often fails to cater to individual needs. 3D printing allows designers to create garments and accessories that are tailored to each individual's measurements, ensuring a perfect fit. This customization not only enhances the consumer's experience but also reduces waste by eliminating the need for excess inventory.

Sustainability and Waste Reduction

The fashion industry has long been criticized for its negative impact on the environment, with fast fashion and excessive waste being major concerns. 3D printing offers a more sustainable alternative by significantly reducing material waste. Unlike traditional manufacturing methods, which often involve cutting and discarding excess fabric, 3D printing only uses the amount of material necessary to create the desired object. This reduction in waste can have a significant positive impact on the environment and help the fashion industry move towards a more sustainable future.

Challenges and Limitations of 3D Printing in Fashion

While the potential of 3D printing in fashion is immense, there are still several challenges and limitations that need to be overcome for widespread adoption.

Material Limitations

One of the main challenges in 3D printing fashion is the limited range of materials available. While there have been advancements in printing with fabrics and other flexible materials, the majority of 3D printed fashion is still made using rigid plastics. This limits the variety of textures, colors, and finishes that can be achieved with 3D printed garments and accessories. However, ongoing research and development in this field are continuously expanding the material options available for 3D printing in fashion.

Cost and Accessibility

Another limitation of 3D printing in fashion is the high cost of the technology and the limited accessibility for designers and consumers. 3D printers, especially those capable of printing complex and detailed objects, can be quite expensive. Additionally, the expertise required to operate and maintain these printers can be a barrier for many designers. However, as the technology advances and becomes more widespread, the cost and accessibility of 3D printing in fashion are expected to improve.

The Future of 3D Printing in Fashion

As 3D printing continues to evolve and gain traction in the fashion industry, it is exciting to imagine what the future holds.

Emerging Trends and Innovations

One of the emerging trends in 3D printing is the use of sustainable and biodegradable materials. Designers and researchers are exploring alternative materials, such as algae-based filaments and recycled plastics, to create more eco-friendly 3D printed fashion. This focus on sustainability aligns with the growing demand for ethical and environmentally conscious fashion.

Emerging 3D printing trends focus on sustainable, biodegradable materials like algae-based filaments for eco-friendly fashion.

Predictions for the Future of Fashion Technology

Looking ahead, experts predict that 3D printing will play an increasingly important role in the future of fashion technology. From on-demand production to personalized designs, 3D printing has the potential to transform the entire fashion supply chain. As the technology becomes more accessible and the market demand for customization continues to grow, 3D printed fashion is poised to redefine the industry as we know it.

Conclusion

3D printing is revolutionizing the fashion industry, opening up new possibilities for design, production, and customization. As this technology continues to evolve, we can expect to see its impact on the industry expand, leading to a more sustainable, innovative, and personalized future for fashion.

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How 3D Printing is Revolutionizing the Fashion Industry

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Discover how 3D printing is transforming the fashion industry, revolutionizing the way clothes are designed, produced, and customized.

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Diverging from its age old factory-setting, education is experiencing the most profound change to date. E-learning has emerged as the single most important development that is challenging the deep-rooted fundamentals of conventional education.

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Mar 10, 2024, 10:07PM IST Source: TOI.in

Iris, India's first AI-generated school teacher robot, was unveiled at a grand event in a Kerala school by Makerlabs Edutech. Powered by cutting-edge robotics and generative AI technology, Iris features an in-built voice assistant and runs on an Intel chipset. The humanoid, clad in a saree, interacted with students in a video shared on Instagram. Developed under the Atal Tinkering Lab (ATL) project by NITI Aayog, Iris aims to revolutionize traditional teaching, responding to queries and educating students from nursery to class 12 through an Android app. Currently proficient in three languages, developers plan to extend its language capabilities to 20 languages.

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Watch: India's first-ever AI teacher robot named 'Iris' launched in Kerala school | TOI Original - Times of India Videos

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Iris, India's first AI-generated school teacher robot, was unveiled at a grand event in a Kerala school by Makerlabs Edutech. Powered by cutting-edge robotics and generative AI technology, Iris features an in-built voice assistant and runs on an Intel chipset. The humanoid, clad in a saree, interacted with students in a video shared on Instagram.

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Personalization is a company's ability to recognize and treat its customers as individuals via personal messaging, targeted banner ads, special bill offers, or other personal transactions.

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Gen Z gets a bad rap for their record-high consumption of social, video, and mobile content. But, can we blame them? They were the first generation to not know life without the Internet or mobile devices. (And honestly, who wants to go back to the days of printing Mapquest directions when we can just use Waze?)

Instead of feeling frustrated by Gen Z's obsession with digital connection, you can use it to your advantage to build engaging online learning programs where they can do what they do best: connect & engage.

An Introduction to Gen Z

Say hello to a new generation.

Born between 1995 and 2012, Gen Z - also known as the iGeneration or Zoomers - accounts for almost a third of the global population. With more than 2.56 billion belonging to the generation, you've likely engaged with members of this diverse and dynamic generation on your campus.

Their impact on the world around them is also already significant. Gen Zers are some of the top influencers on social media. Their social justice movements are affecting change both in the U.S. and globally. When they're not TikToking, they're coming up with new ideas and even launching businesses-before they even get to college. Born into modern technology and dubbed 'the global generation,' 95% of 13- to 17-year-olds report having access to a smartphone and spending more than 8 hours a day online.

With the ability to instantly access peers, trends and news from all over the world, Gen Z students lead a tech-infused lifestyle that was only supercharged when the pandemic moved all learning online. In the months that followed, Gen Z students had unprecedented exposure and experience using technology to continue their education outside the traditional brick-and-mortar school setting. So when it comes to college, they're not too keen to sit on a waitlist just to get into a 600-person live lecture on Thursday nights.

This means that engaging Gen Z in their learning is really a matter of meeting them where they are-and right now that's in social spaces, both online and off. Today's students are digital natives and accustomed to communicating with one another online, creating connections and building community virtually.

Because of that, these students expect this to bubble over into their learning experiences naturally. And if we want to engage Gen Zers in the college experience, we'll need to continue creating learning environments that are collaborative, interactive, and meaningful.

Gen Z Demographics

Gen Z is diverse, determined, and digital.

It's also quickly becoming one of the most researched generations on the planet. Here's a quick rundown of what you need to know.

Generation Z is the most diverse generation in the U.S. A bare majority (52%) are non-Hispanic white (2020). More than a third of Gen Zers know a non-binary person. And this generation, for the most part, regardless of political affiliation, also views diversity as a good thing.

Growing up in the aftermath of 9/11 and the Great Recession of 2008, Gen Z already has a reputation for being cautious and pragmatic (who can blame them!). The upside? They are clear-eyed about their futures and are looking to post-secondary education as an important step toward job security.

Gen Z isn't just mobile-friendly, they are mobile-only. 95% of Gen Z own a smartphone. 55% use their smartphones for 5+ hours a day and 26% for 10+ hours a day.

How Learning Happens for a Gen Zer

From the data, Gen Zers are eager to learn and become deeply engaged in their growth.

How and where they learn isn't necessarily in the traditional physical classroom. They are motivated to learn new skills that they can put to work quickly. They like studying with friends, and more than half say they enjoy helping their friends learn. While they are comfortable learning in groups, when they get to college, they want some control over how those groups function - preferring to organize the group's responsibilities on their own.

Despite their focus on social media, they're active learners and expect to be fully engaged in the learning process. More of them say they learn by doing (51%) rather than by listening (12%). And more than 80% of today's teens note that YouTube and video have helped them learn something or improve skills that will help them prepare for the future.

Let's not forget...they live life online. Studies show that they spend three to four hours each day on social media, which probably explains their inclination to consume information in small, bite-sized pieces. If you're groaning, consider that science is on their side. Microlearning is very effective. According to RPS research, microlearning improves focus and supports long-term retention by up to 80%.

While this generation is more prepared for college than previous generations (yay!), they expect that their coursework will be interesting, that their professors will care about their success, and that their education will prepare them for a career. That raises the bar for colleges and universities.

Most Gen Zers plan to go directly from high school to college. Close to half of older teens have already taken a college course, and 84% of younger teens plan to do the same. Still, about 75% of Gen Zers think that there are other ways of acquiring a good education, aside from going to college.

The proportion of all enrolled college students who take at least one online class continues to rise, edging up to nearly 35 percent.

5 Ways to Engage Gen Zers in their Learning

Never fear...Gen Zers aren't giving up on formal higher education just yet!

In fact, they're really looking for opportunities tailored to their interests, that puts students at the center, and that align with their values. That means to continue retaining, engaging, and preparing students for life after graduation, institutions must adapt and tailor their instructional approach in ways that fall more in line with Gen Z priorities.

1. Balance collaboration and autonomy

Don't shy away from collaboration in an online setting.

While it's easy to shy away from collaboration during online courses, we all know that online learning can lead to isolation. We also know that as humans, we are social creatures. We need human interaction. And when students are not collaborating with classmates, they miss out on that social element, new perspectives, alternative ways to solve problems, and opportunities to practice providing and receiving feedback.

Do consider implementing instructional strategies and tools that can mimic in-person collaboration opportunities online.

Gen Zers are ultra-collaborative. They throw themselves into new situations and enjoy immersive, interactive experiences-particularly online. They like to participate in the learning process and enjoy working and learning with others online and off.

Because they are an always-on generation, they also value their independence and often prefer working out solutions to problems on their own. In the classroom or online, create unique opportunities for group collaboration, one-to-one peer review, student-facilitated discussions, student reflections, and ample instructor-to-student feedback sessions.

And be sure to keep expectations clear. While they enjoy flexibility in how things get done, it's important to set your Gen Z students up for success by providing clear milestone due dates, as well as expectations around communication and interactions.

2. Appeal to their sense of community & inclusivity

Don't take a one-size-fits-all approach.

It's important to make it easier for shy or struggling students, nontraditional students, or students with disabilities to contribute to the course and interact with others in the ways that make sense for them.

Do promote social & inclusive learning.

Gen Zers are socially engaged! Three out of four believe their generation will change the world. They are accustomed to using technology to share ideas and seek support for them. As one of the most diverse generations, they embrace new and more inclusive ways to listen, learn from one another, and be heard. Their learning environments should reflect these values by providing a model for engaged discussion and guided collaboration.

To do that, leverage tools that help you create a vibrant social learning environment that is inclusive of diverse learners. Fully accessible discussion options give students of all abilities a way to participate and express themselves. Be open to running polls, setting up small groups, or enabling anonymous posting to include students who otherwise might not contribute. As a quick way to kick things off and heighten students' sense of social presence, invite them to answer fun background questions about themselves in video discussion boards and have them introduce themselves to each other, so they'll feel more comfortable interacting, collaborating, and asking questions throughout the course. What will result is a genuine Gen Z appreciation for the opportunity to be seen, heard, and valued for their own uniqueness.

3. Build in opportunities to learn and grow from each other

Don't rely on top down communication.

Instructor-to-student communication is important. But relying on one-way communication during direct instruction is a surefire way to disengaged Gen Z students. Multidirectional communication will keep them hooked.

Do make Gen Zers active participants in their learning.

Gen Zers love to learn. They also love sharing what they're learning with one another-whether online or face-to-face. This means supplementing your synchronous, direct instruction with additional opportunities for more hands-on learning or using online discussions where problem-solving, ideating, and student-to-student feedback can happen in real time. Remember, Gen Z expects their online experiences to be as social as their face-to-face experiences, so take advantage of new tools and platforms to invigorate your courses.

4. Remember that video is THE medium of choice

Don't rely on the dreaded thread.

Heavy, long, threaded text isn't engaging to anyone - and text-heavy instructional delivery will certainly have Gen Z running for the hills!

Do double down on video!

When it comes to learning, Gen Z's go-to medium is video. They rank learning through YouTube just behind learning from teachers but well ahead of lectures, textbooks, and learning apps. Whether they're using YouTube or Instagram live, Gen Zers gravitate toward the visual-and they particularly love user-generated content. So make sure that your online platforms not only support video creation and annotation, but that it's fun and easy to use.

Don't be afraid to mix it up. Gen Z appreciates variety in their learning. Consider incorporating multiple multimedia options, like audio and images, as well as other modes of communication familiar to them, such as text-like chat, polls, reactions, or tagging, to better engage this group.

5. Whatever tools you use, make them seamless and natural

Don't create barriers.

Don't make things hard to access, hard to follow, or hard to use. Rather, find technology and tools that are intuitive to students. The best employ features and interfaces most people are familiar with and already know how to use - think social media. This is important because most online learners are looking for the quickest way to achieve their goals and expect speed at all points in their online learning experience.

Do your homework to make the best technology choices.

Most of us want our technology to work seamlessly across whatever apps and systems we happen to be working in. When it doesn't work how we want, most of us simply sigh and make do.

Gen Z reacts differently. They already perceive their technology as an extension of themselves. That means they expect flawless execution across all of their devices, making technology choices paramount for retaining and engaging them. To keep your Gen Z students excited about their learning, make sure your digital tools deliver content easily, support social and visual learning, are as mobile as your students are, and function as a cohesive and natural part of your courses. Instructors will thank you too!

Summary

The bottom line is that today's students are looking for unique ways to connect, collaborate, and make an impact. They value skills, prefer a mission to a major, and want to forge their own paths - with the right support and guidance. Helping Generation Z find their way will require new tools to engage, support, and nurture them. And intuitive online discussion & collaboration tools that blend seamlessly into their everyday learning is an important piece of the puzzle.

Harmonize elevates the learning experience with a suite of LMS-integrated discussion & collaboration tools, that improve student retention and engagement . Request a pilot to try it free, or schedule your demo today!

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Gen Z Education Trends Higher Ed Institutions Need to Know

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Gen Z has high expectations for their online learning experiences. Here's how to design socially engaging & inclusive learning environments they'll love.

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The first personalized direct marketing letters appeared in the 1870s, marking the beginning of the personalization phenomenon. The first mass-market catalogues appeared in the 1880s. After that, personal marketing via direct mail was relatively short-lived. Catalogue companies' business grew so quickly that it became impossible to communicate with customers one-on-one.

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Microlearning refers to an educational approach that offers bite-sized, small learning units with just the necessary amount of information to help learners achieve a goal. In the eLearning and instructional design realm, its the latest buzzword.

eLearning designers and developers discuss it when they meet around the water cooler. HR and training managers have found ways to implement it in their learning strategies. The top brass of companies is no longer questioning its efficacy.

Day-long PowerPoint training sessions are passé; microlearning is an effective way to train adult corporate learners. And the sooner your company adopts it, the happier your learners will be. Learner satisfaction, of course, translates into more business for you.

But being the prudent person that you are, you will want to see "the numbers" before you decide to board the bus. So here are the numbers:

Our forgetting curve relies on different elements; however, studies reveal that employees can forget as much as 50 percent to 80 percent when learning is not reinforced after the training event.

According to RPS research, Microlearning improves focus and supports long-term retention by up to 80%. This means we should uses micro-learning not as a stand-alone learning vehicle, but rather as a supplemental strategy to support the main training event.

Take a look at this image by RPS which illustrates this point:

Here's why microlearning is more efficient than traditional longer-duration courses:

When bite-sized learning content is easily and readily accessible, learners can take it at their own pace, wherever they are, and most importantly, when they are "ready."

Because bite-sized courses are more focused, learners don't have to clutter their memories with irrelevant information. This makes retention easier.

Learners have to digest only small chunks of information. This makes comprehension easier without spending too much effort.

Because microlearning content addresses only 1-2 learning objectives, courses, on average, yield 4-5 learned takeaways.

Also read: Is Bite-Size Learning the Way to Engage the Modern Distracted Learner?

According to the findings of a survey on Learning and Development professionals, a whopping 94% said that they prefer microlearning to traditional time-consuming eLearning courses because their learners prefer it (Boyette, 2012). The C-suite too has realized the efficacy of microlearning in addressing the needs of modern learners.

Millennial learners demand that training is

Customized to their needs

On-demand

Informal

Microlearning fits the bill perfectly. It has proved to be a successful alternative to long-form eLearning courses as it allows students to digest things quickly, multi-task between assignments and meetings, and finally, retain the subject at hand better as it is a more digestible format altogether.

Start learning how to convert long-form eLearning courses to microlearning.

Learner disengagement and boredom kill the chances of success in an eLearning program. Microlearning is the solution, as the learners themselves have pointed it out.

According to a report by Software Advice, The LMS Features that Drive Employee Engagement IndustryView, more the 50% of the 385 employees who took part in a survey indicated that they would use their company's learning tools more if the courses are shorter. According to them, longer courses are not only more challenging to digest and retain but taking them also gets in the way of their daily work.
Some helpful tips:

Create your bite-sized courses to resemble social media content-on-demand, engaging, and media-rich.

Engage your audience right from the start and keep at it until the end of the module. Just because the module is short is no guarantee that the learners will stay with you through boring content and lackluster presentation.

Cut to the chase. Do away with the history, the background information, and the theories. Deliver the "how-to" right away. Remember, your learners are looking for just-in-time solutions.

More microlearning tips here.
The human brain is not wired to maintain focus for hours on end. It learns better when the content is delivered in short bursts with the courses well spaced out to help cement the learning. Repetition also aids retention. Microlearning is well-suited to this delivery format.

Microlearning is the need of the hour more so because of the way the average modern learner functions in his daily life.

Here's what a study carried out by the University of California-Irvine has found:

Your employee works on a task for about 11 minutes before he is interrupted by a ring or ding of the phone, a popping email, or his co-worker who has come up to his desk.

Within that span of 11 minutes, he engages in multiple short and quick tasks that average about 3 minutes each.

If the task involves consuming digital information, he spends just 20 seconds browsing one piece of content before he clicks or flicks through to the next.

The average learner cannot retain focus for long and has become accustomed to consuming short pieces of content in shorter bursts of time.

According to learning architect Ray Jimenez, PhD, in his book 3-minute eLearning, by creating micro-courses learning developers can reduce development costs by 50% and increase the speed of development by 300%.

Here's why:

There's no need to pay for the instructor's time, buy or rent physical classrooms and pay for the utilities, and spend money on classroom equipment.

It is easier and less time- and resource-intensive to update digital information than reprint training manuals and conduct supplementary classroom training sessions.

It is easier and less time-consuming to roll out microlearning courses because they are modular in nature.

It is hard not to be convinced by these numbers. Adopting microlearning creates a win-win situation for both you and the learners. It is not late to go small now.

Recommended read: Theory to Practice: Actionable MicroLearning Tips

REFERENCES:
Mindy Gym. The Bite-Size Revolution. 2015.
Jimenez, Ray. Ph.D "3-Minute e-Learning" 2006.

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Numbers Don't Lie: Why Microlearning is Better for Your Learners (and You too)

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Microlearning refers to an educational approach that offers bite-sized, small learning units with just the necessary amount of information to help learners achieve a goal. In the eLearning and instructional design realm, its the latest buzzword. eLearning designers and developers discuss it when they meet around the water cooler.

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Personalization is defined as a process that aims to create a relevant, individualized interaction to improve the customer experience. Personalization uses insight based on each customer's personal and behavioral data to deliver a superior experience.

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Technological developments in artificial intelligence (AI): AI systems are now able to examine user data and spot trends in order to forecast preferences and behavior. This enables businesses to customize their products and communications with specific users.

The Internet's and mobile devices' growth: Businesses and consumers are now constantly connected thanks to the widespread use of mobile devices and the internet. This makes it possible to personalize experiences in real-time according to the needs and context of the user.

The Emergence of Big Data: The capacity to gather, store, and examine enormous volumes of data, or "big data," has revolutionized many fields. Businesses can now collect data on user behavior, preferences, and demographics on a never-before-seen scale. The foundation for personalization efforts is provided by this data.

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The Rise of the Individual: Today's consumers are more assured of themselves and demand that brands accommodate their particular requirements and tastes. They are drawn to experiences that feel relevant and personal, and they are less receptive to generic marketing messages.

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A Guide to Personalized Marketing: 3 Key Success Factors

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Personalized marketing helps you build a one-on-one connection with your customer. It helps to set you on the right path to growth.

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The Power of Choice: The abundance of online options has given consumers more options than ever before. Because personalization makes it easier for users to sort through the myriad options and locate what they're looking for quickly, it has become more and more in demand.

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Marketers see today's consumers as web-savvy, mobile-enabled data sifters who pounce on whichever brand or store offers the best deal. Brand loyalty, the thinking goes, is vanishing. In response, companies have ramped up their messaging, expecting that the more interaction and information they provide, the better the chances of holding on to these increasingly distracted and disloyal customers. But for many consumers, the rising volume of marketing messages isn't empowering-it's overwhelming. Rather than pulling customers into the fold, marketers are pushing them away with relentless and ill-conceived efforts to engage.

Learn how simple-or complex-the decision journey is for your customers with an audit found at
www.executiveboard.com/simplicity
.

That's a key finding of Corporate Executive Board's multiple surveys of more than 7,000 consumers and interviews with hundreds of marketing executives and other experts around the world (for more detail, see the sidebar "About the Research"). Our study bored in on what makes consumers "sticky"-that is, likely to follow through on an intended purchase, buy the product repeatedly, and recommend it to others. We looked at the impact on stickiness of more than 40 variables, including price, customers' perceptions of a brand, and how often consumers interacted with the brand. The single biggest driver of stickiness, by far, was "decision simplicity"-the ease with which consumers can gather trustworthy information about a product and confidently and efficiently weigh their purchase options. What consumers want from marketers is, simply, simplicity.

Over a three-month period, Corporate Executive Board conducted pre- and postpurchase surveys of more than 7,000 consumers in the U.S., the UK, and Australia, covering a wide range of ages, income levels, and ethnicities.

Respondents were asked dozens of questions about their attitudes and purchase experiences across a variety of price points and channels in categories including apparel, cars, luxury goods, onetime items (such as airline tickets), and ongoing services (such as cell phone service).

Questions explored shopping duration, effort required, purchase-related research, the consumer's state of mind, his relationship with the brand, the frequency of his interactions with the brand, and the likelihood of repurchasing and recommending.

In addition, we interviewed 200 CMOs, brand managers, and other marketing executives representing 125 consumer brands in 12 industries globally, asking about their strategies and beliefs concerning drivers of stickiness.

Consider the marketing activities of two digital camera brands. Brand A's search engine strategy is to pick up any consumers who are searching common digital camera terms and direct them to the company website. There they find extensive technical and feature information and 360-degree rotatable product photos, all organized and sortable by model. In stores, shelf labels list key technical attributes, such as megapixel rating and memory, and provide a QR code that takes consumers to a mobile version of the brand's website, where they can dig more deeply into product specifications.

Brand B's search engine strategy is to first understand the consumer's intent and where in the search process she is likely to be. Why does she want a camera? Is she just starting to look, or is she ready to buy? The company guides those in the early stages of investigation to third-party review sites (where its cameras get good marks) and directs consumers who are actively shopping to its own website. User reviews and ratings are front and center there, and a navigation tool lets consumers quickly find reviews that are relevant to their intended use of the camera (family and vacation photography, nature photography, sports photography, and so on). In stores, Brand B frames technical features in nontechnical terms. Instead of emphasizing megapixels and memory, for example, it says how many high-resolution photos fit on its memory card. The QR code on shelf displays leads to a simple app that simulates one of the camera's key differentiators, a photo-editing feature.

The highly detailed information Brand A provides at every step on the purchase path may instruct the consumer about a given camera's capabilities, but it does little to facilitate an easy decision. Brand B simplifies decision making by offering trustworthy information tailored to the consumer's individual needs, thus helping her traverse the purchase path quickly and confidently. Our research shows that customers considering both brands are likely to be dramatically more "sticky" toward Brand B.

Making Decisions Simple

For a marketing organization, what does it take to acquire sticky consumers?

Our study found that the best tool for measuring consumer-engagement efforts is the "decision simplicity index," a gauge of how easy it is for consumers to gather and understand (or navigate) information about a brand, how much they can trust the information they find, and how readily they can weigh their options. The easier a brand makes the purchase-decision journey, the higher its decision-simplicity score. Brands that scored in the top quarter in our study were 86% more likely than those in the bottom quarter to be purchased by the consumers considering them. They were 9% more likely to be repurchased and 115% more likely to be recommended to others.

Shifting the orientation toward decision simplicity and helping consumers confidently complete the purchase journey is a profound change, one that typically requires marketers to flex new muscles and rethink how they craft their communications. Some practical lessons can be drawn from brands that are leading the way. The processes of aiding navigation, building trust, and making it easier to weigh options often happen simultaneously, or at least aren't strictly linear, but for clarity we'll discuss them separately below.

Businesses broadly misjudge what consumers want from them online. In particular, marketers often believe that consumers interact with them on social media to join a community and feel connected to the brand. But consumers have little interest in having a relationship beyond the merely transactional.

Their top reasons for connecting online: to get information and discounts, and to buy things.

Aiding navigation.

In demanding ever more attention from overloaded consumers, brands ultimately lead them down unnecessarily confusing purchase paths. Creating a more efficient path means minimizing the number of information sources consumers must touch while moving confidently toward a purchase. The savviest brands achieve this by personalizing the route.

This approach is especially foreign to marketers because in many cases the simplest, most confidence-inspiring learning path involves touchpoints that are outside a brand's direct control. Often what a consumer needs is not a flashy interactive experience on a branded microsite but a detailed exchange with users about the pros and cons of the product and how it would fit into the consumer's life.

Marketers face two practical challenges here. First, how can they detect where a given consumer is on the purchase path and what information she most needs? Second, how can they ensure that consumers they direct to third-party information sources will come back?

To answer the first question, frontier marketers are using big data and sophisticated analytics to map consumers' purchase paths. One electronics company has gathered data from four major sources-social media monitoring, ad-effectiveness and campaign-tracking information, clickstream analysis, and individual consumer surveys-to identify common purchase paths. It studies the resulting maps to determine the volume of traffic on various paths, which paths inspire the most confidence, which touchpoints are best suited to conveying which types of messages, and at what points consumers lose confidence or defect.

Over the past two decades, a wide range of experiments have shed light on how an excess of information and choice impairs decision making.

One of the most common consumer responses to the excess is to forgo a purchase altogether. In a classic experiment, Sheena Iyengar, then a doctoral student and now a professor at Columbia Business School, set out pots of jam on supermarket tables in groups of either six or 24. About 30% of those who were given six choices bought some jam; only 3% of those confronted with 24 choices did. As the psychologist Barry Schwartz demonstrates in The Paradox of Choice, an excess of input leads to angst, indecision, regret, and ultimately lowered satisfaction with both the purchase process and the products themselves. Dozens of related lines of research confirm what now seems like common sense: Too much choice or too much information can be paralyzing.

Consumers themselves say they're overwhelmed. A 2004 survey conducted by the market research firm Yankelovich found that two-thirds of respondents felt "constantly bombarded with too much marketing and advertising." (And it's safe to say that eight years later, the bombardment has only increased.) The implication for marketers is clear: Aggressive engagement that overloads consumers' already-saturated brains may backfire. But the hundreds of marketing executives we interviewed told us that their engagement strategies were designed expressly to achieve more-frequent interaction and deepened relationships.

Compounding the overload problem is the human penchant for overthinking trivial decisions and second-guessing. The explosion of messages and product data feeds this tendency, one consequence of which is a "spiral of discontent." Research by the University of Florida's Aner Sela and Wharton's Jonah Berger shows that the more challenging a decision is to make, the more important people imagine it to be. Think about consumers trying to choose among an array of poorly differentiated products, such as digital cameras: The difficulty of wading through the choices increases the perceived importance of the decision. This in turn causes people to spend even more time and effort on the decision, which further increases its apparent importance. A trivial purchase decision can thus spiral into a disproportionately complicated and time-consuming one-and the process creates consumers who are less happy, not more. Indeed, 41% of those we surveyed expressed anxiety about the purchases they'd made, and 20% conducted research after the purchase, still looking to validate their decisions.

Brands pursuing decision-simplicity strategies make full use of such information to assess where consumers are on the path and to direct them to the best touchpoints. Certain auto manufacturers, retailers, and travel brands have been sifting through consumer search data to learn how search terms and the type of search platform (say, mobile versus desktop) indicate consumer intent and position on the path. They've found, for example, that 70% of those using a mobile device to search are within a few hours of making a purchase, whereas 70% of those using a desktop are roughly a week away.

Moreover, by analyzing search terms, companies can discern what information the consumer most needs next. Someone who searches a general term like "luxury sedans" is at an early stage compared with someone who searches a specific phrase like "BMW vs Audi." Decision-simplicity marketers would guide the former to the latest auto reviews for their sedans and the latter to an enthusiastic owner community. If the late-phase consumer was using a mobile device (indicating that he was probably out and about), the search engine would serve up a paid link to a dealer locator with a click-to-call feature that enabled him to easily set up a test drive.

Building trust.

In the context of decision simplicity, "trust" isn't about trusting the brand; it's about trusting the information gathered. Marketers often miss this point and put their efforts into activating brand recommenders who simply focus on product features and benefits. Consumers also need information about an adviser's decision criteria and brand usage.

What does trusted advice look like? Consider the current "haul video" phenomenon among teenage girls. After shopping at a mall, many girls upload YouTube videos of themselves talking about their haul (purchases). In the videos, they discuss not just what they bought but also why, and how they plan to mix their new items with the rest of their wardrobe. This takes the complicated world of teen clothing and accessories-a world fraught with danger from shifting trends and overwhelming choice-and simplifies it, by showcasing fashionable peers who offer trustworthy guidance. In essence, the "hauler" cuts through the seemingly infinite options and provides decision-making criteria. J.C. Penney and American Eagle have capitalized on the phenomenon by hosting unbiased haulers on their sites and in their digital communications. Neither retailer requires that the haulers show only brands purchased at its store, and the haulers are transparent about their links to the companies (Penney, for instance, gives its star haulers gift cards).

Information about the adviser also helps build trust. Disney has done an outstanding job in this regard with its Walt Disney World Moms Panel. A selected group of Disney World veteran moms answer questions from consumers who are planning Disney vacations. In one recent case, a consumer asked about good viewing places for the parade; she had two children who wouldn't be able to stand the whole time. She got perfectly tailored advice from Jackie S. With 25 Disney World trips under her belt, Jackie has the experience to make her information credible. Consumers can get a further sense of her reliability by reviewing her profile on the Disney World website and reading about her family, her hometown, and even how she met her husband. Such details matter: They help consumers assess the trustworthiness of the advice they're getting and allow them to judge how well that advice applies to their own situations.

The lesson for marketers: Build cadres of trustworthy advisers rather than simply developing recommenders who will push the brand. Then aggregate their advice and make it easy for consumers to discover and use it, as J.C. Penney-whose haul videos get hundreds of thousands of views-so successfully does.

Making it easier to weigh options.

To help consumers evaluate choices, most brands describe their differentiating features and benefits. Some go a step further, offering buying guides containing side-by-side brand or product comparisons. For example, a bank might compile a catalog of its checking account options that lists the features of each one. Both approaches provide lots of information, but neither offers much guidance, leaving the consumer as confused as ever about the "best" choice.

Brands need to take a different tack. Except in cases of low-value products, consumers increasingly expend most of their effort learning about and weighing their choices. For items costing more than $50, a quarter of customers report that most of their effort is spent on product research. About 20% say that most of their effort is spent on comparison shopping.

The marketer's goal is to help customers feel confident about their choice. Just providing more information often doesn't help. Instead, marketers need to provide tools that allow customers to identify and weigh the features that are most relevant to them. A classic example is De Beers's use of the "4 Cs" (cut, color, clarity, and carat) to frame the complex and often vexing comparison of diamonds. The 4 Cs simplify the buying decision by giving consumers confidence that they are weighing the essential features of the diamonds they're considering and making an informed choice.

However, many brands have made the weighing process harder by introducing a dizzying array of SKUs. Crest's website, for example, details 35 types of toothpaste. Although a consumer can sort them according to a few characteristics-"flavor experience," "dentist inspired," "fresh breath," "classic"-there's little to help her figure out which features are most important to her and which paste is her best choice. Are "dentist-inspired" pastes better in her case than "classic" pastes? Buying guides of this sort make the mistake of appearing to offer guidance while actually complicating the decision process.

Marketers, especially those with an abundance of SKUs, need to help customers control the weighing process. Herbal Essences does a good job with an online decision guide to its shampoos. The guide provides substantial detail but also makes narrowing and tailoring one's choice an easy, transparent, step-by-step process. One-click questions about hair type, length, and texture (straight, short, fine, thick) and other needs (color treatment, volume) allow the visitor to rapidly sort through more than three dozen offerings to find the ideal one.

Technology can also address consumers' weighing woes by allowing them to sidestep the process altogether. Consumers are likely to feel confident about recommendations that are based on their own purchasing data or other past behavior, because those things are typically accurate gauges of preference. ShoeDazzle.com and JustFab.com-clubs for shoe lovers-collect "personality" information on each member, such as favorite fashion icons and general shoe preferences (heel size, color, and so on) and tailor suggestions accordingly. The Spanish bank BBVA makes personalized recommendations for financial products after assessing individual consumers' spending behavior-as reflected in credit card histories and questionnaires-and comparing that behavior with the spending of peers. In each case, the company eliminates much if not all of the hassle of weighing choices by providing a likely best choice at the outset.

Putting It Together

No company that we know of has fully integrated the three components of a decision-simplicity strategy-but Intuit is among those out in front. Consider its software product TurboTax. Tax prep is complex, and consumers have a range of options, from accountants to software programs to pencil and paper. Within software itself, there's a potentially bewildering array of choices. Intuit has made a concerted effort to simplify those choices by helping consumers navigate, trust, and weigh information along the path to purchase, as we'll describe below. Christine Morrison, the head of social media at TurboTax, says, "We've seen dozens of areas where simplifying decisions for consumers pays big dividends."

Navigation.

TurboTax created a customer forum, called TurboTax Live Community, where visitors can ask product, tax, and support questions and share information. It contains a database of answers provided by customers and experts. To ensure relevance, an algorithm serves up the five most common answers to a given question. For example, a user on the mortgage-deductions screen will find answers to questions about deduction limits and how to calculate deductions for the purchase of a house. TurboTax users don't pay for the software until they file their taxes; Live Community helps drive conversion by shepherding consumers through the tax-prep process to completion, providing the right information at the moment it's needed. To date more than 12 million users have engaged with the community.

Trust.

Intuit provides more than 160,000 unfiltered user reviews and ratings on the TurboTax website and helps consumers find the most relevant ones. The ratings range from one star to five; the inclusion of low ratings boosts consumers' confidence, showing them that Intuit isn't cherry-picking its reviews. Consumers can use the "folks like you" tool to sort evaluations according to reviewers' marital status, life situations, and major tax events. They can find reviews written by friends or family by connecting to Facebook or Twitter-TurboTax encourages customers to post on either site when they've completed their taxes, and the postings constitute what are in effect consumer-generated, highly trusted banner ads. The conversion rate of those ads is 30% higher than that of TurboTax's regular banner advertising.

Weighing options.

The TurboTax home page shows basic product choices arrayed side by side for easy comparison. It includes a "help me choose" function that allows consumers to go through a 30-second "check the boxes that apply" exercise. This not only guides them to the product most suited to them but also shows why that product is their best choice.

In addition, Intuit lets consumers filter user reviews by prior tax-prep method so that they can read what reviewers with similar tax-prep histories have said about switching to TurboTax. This helps them answer the question "What would it be like to change to TurboTax from what I use now?"

Given the rapid expansion of social and mobile technologies, marketers will have ever-increasing opportunities to bombard consumers. And if history is any guide, that's exactly what they'll do. But in their aggressive efforts to engage with their customers, they'll only make the decision journey more complex and confusing. Marketers who focus on simplifying consumers' decision making will rise above the din, and their customers will stick by them as a result.

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Marketers see today's consumers as web-savvy, mobile-enabled data sifters who pounce on whichever brand or store offers the best deal. Brand loyalty, the thinking goes, is vanishing. In response, companies have ramped up their messaging, expecting that the more interaction and information they provide, the better the chances of holding on to these increasingly distracted and disloyal customers.

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Integration of technology has led to a change in models of education. As the number of online programs and courses continue to increase, the need for faculty who are comfortable using learning management systems, simulation, educational software programs, and other technology to teach courses online also continues to increase.

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The Rise of Social Media: People have become accustomed to expecting a customized experience from social media platforms. These platforms create an expectation of personalization across all digital experiences by curating content feeds and recommendations based on user activity and preferences.

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Hyper-personalization is the most advanced way brands can tailor their marketing to individual customers. It's done by creating custom and targeted experiences through the use of data, analytics, AI and automation. Through hyper-personalization companies can send highly contextualized communications to specific customers at the right place, time, and through the right channel.

As digital marketing becomes more competitive, hyper-personalized marketing provides the opportunity for organizations to meaningfully engage customers, deepen relationships, and improve customer experience. Implementing this type of strategy not only increases customer satisfaction, but also drives brand loyalty, willingness to spend, and overall marketing effectiveness.

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Connecting with meaning | Deloitte Canada

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Personalizing the customer experience using data, analytics and AI

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Apart from the constant elements that impact Gen Y's use of social media, each member of Gen Y's unique objectives, feelings, and standards/identity can impact – and be influenced by – their use of social media in real time (Bagozzi and Dholakia, 2002). There are many different components to these factors; a thorough explanation is outside the purview of this work. Information, personal identity, integration and social interaction, and entertainment are four major categories of individual motivations to influence usage of traditional media, according to a large body of research based on the "uses and gratifications" framework.

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Abstract

Purpose

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The purpose of this paper is to review what we know - and don't know - about Generation Y's use of social media and to assess the implications for individuals, firms and society.

Design/methodology/approach

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The paper distinguishes Generation Y from other cohorts in terms of systematic differences in values, preferences and behavior that are stable over time (as opposed to maturational or other differences). It describes their social media use and highlights evidence of intra‐generational variance arising from environmental factors (including economic, cultural, technological and political/legal factors) and individual factors. Individual factors include stable factors (including socio‐economic status, age and lifecycle stage) and dynamic, endogenous factors (including goals, emotions, and social norms).The paper discusses how Generation Y's use of social media influences individuals, firms and society. It develops managerial implications and a research agenda.

Findings

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Prior research on the social media use of Generation Y raises more questions than it answers. It: focuses primarily on the USA and/or (at most) one other country, ignoring other regions with large and fast‐growing Generation Y populations where social‐media use and its determinants may differ significantly; tends to study students whose behaviors may change over their life cycle stages; relies on self‐reports by different age groups to infer Generation Y's social media use; and does not examine the drivers and outcomes of social‐media use. This paper's conceptual framework yields a detailed set of research questions.

Originality/value

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This paper provides a conceptual framework for considering the antecedents and consequences of Generation Y's social media usage. It identifies unanswered questions about Generation Y's use of social media, as well as practical insights for managers.

Citation

Bolton, R.N., Parasuraman, A., Hoefnagels, A., Migchels, N., Kabadayi, S., Gruber, T., Komarova Loureiro, Y. and Solnet, D. (2013), "Understanding Generation Y and their use of social media: a review and research agenda", Journal of Service Management, Vol. 24 No. 3, pp. 245-267. https://doi.org/10.1108/09564231311326987

Publisher
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Emerald Group Publishing Limited

Copyright

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Understanding Generation Y and their use of social media: a review and research agenda

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Understanding Generation Y and their use of social media: a review and research agenda - Author: Ruth N. Bolton, A. Parasuraman, Ankie Hoefnagels, Nanne Migchels, Sertan Kabadayi, Thorsten Gruber, Yuliya Komarova Loureiro, David Solnet

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Personal factors that influence Gen Z's online accessibility patterns include socioeconomic class, morals and choices, lifecycle stage, age and maturity, and culture and subculture. The socio-economic status of Generation Z is reflected in their edifices, family income, and material possessions in any given location. Environmental factors and prevailing governmental policies will also have a crucial influence. Individuals' personal goals, emotions, and social standards all have a lasting effect on how social media is used by Generation Z. Their online behavior can both influence and be influenced by these factors over time.

In addition to providing some psychosomatic and emotional comforts, social media use these days also serves to fortify friendship and family ties and meet other ancillary socializing needs, all of which contribute to the increased self-esteem of Generation Z. These social media platforms are giving the younger population of the world—especially those in developing countries—a way to easily learn about health and nutrition, spirituality, and societal issues while also promoting positive physical and mental well-being.

Although Gen Z places a high value on online connections and investments., sharing too much personal information online.

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People in joint families may find it more difficult to use their personal devices individually due to shared living areas, whereas people in nuclear families may have more opportunities for uninterrupted screen time due to their emphasis on private spaces.

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Social media networks meet particular needs and connective desires. Younger generations may use social media for online community building and self-presentation because they were raised in a more individualistic and self-expressive culture. On the other hand, older generations may value in-person communication more and believe that social media is not as important for meeting their social needs.