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What Gucci are doing to market to Millennials which has boosted their success in the past few years amongst their generation.

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In 2017, Gucci's sales grew by 44.6% over the previous year. And in the first quarter of 2018, the luxury brand posted nearly $2.2 billion in sales revenue, up 48.7% compared to the same period last year.

What's behind Gucci's blastoff? One reason is millennials.

As any experienced marketer will tell you, luxury branding requires a different approach than standard B2C efforts. We at IntraLink Global understand luxury brands and have done award-winning work in this space. To us, millennials are the clear access point: According to the , millennials are "the world's most powerful consumers." While many other luxury brands have struggled to tap into the growing millennial demand, Gucci has found an eager and expanding base. According to Francois-Henri Pinault, CEO of Kering, Gucci's parent company, millennials and Gen Z account for nearly 50% of Gucci's total sales.

According to Fast Company, Gucci CEO Marco Bizzarri's partnership with famed Harlem tailor Dapper Dan has helped transform the Gucci brand for a new generation of luxury consumers: the hip-hop crowd. Gucci's name has been used in lyrics by artists including Pusha T and 2 Chainz, which have likely influenced millennial demand.

However, there's more to Gucci's success with millennials than simply knowing what's "cool." To win with millennial consumers, brands need to understand what millennials value: personal satisfaction and purpose.
Redefining Luxury
There are two things that have traditionally marked a brand as being "luxury." The first is high-quality craftsmanship -- you can't have luxury without superior quality. The second is exclusivity -- luxury is often thought about as showing off to everyone else.

According to a Deloitte survey, millennials don't buy into these traditional selling points. For one, the term "luxury" has lost some of its cachet to lower-cost competitors. Millennials are less interested than previous generations in outward displays of status. According to the report, which surveyed 1,005 millennial luxury consumers in the U.S., U.K., Italy and China, "Respondents from all four geographies were most likely to say that they bought luxury to please themselves, not to impress others or to do what influencers or celebrities said they should do."

More than anything, millennial consumers crave purpose, authenticity and passion. They're attracted to companies that demonstrate a committed, ethical approach to business. So, luxury brands must embrace a higher purpose if they want to win over millennials.
Luxury Brands Moving To Purpose
Issues like sustainability, transparency and ethical manufacturing have received increasing attention in the media, but the luxury industry has been slow to respond, as the 2018 Fashion Transparency Index reports. Profits are strong now, which is why some brands might not see the need to change. However, millennial consumers demand change, and their volume is increasing. A 2015 Nielsen study confirms that consumers who are willing to pay more for a product do so with sustainability in mind, prioritizing the demographic's commitment to social values.

According to various sources, the fashion industry is one of the most wasteful in terms of pollution. For example, Burberry's decision to burn $40 million worth of stock rather than selling it at a discount was meant to maintain the brand's exclusive status but instead drew considerable criticism.

Perhaps another reason why Gucci is doing so well has something to do with its new purpose-driven, environmentally progressive program, Gucci Equilibrium. The brand has established this program through a new microsite that reports the company's CSR policies, environmental impact, employee satisfaction and structural innovations. This effort grants Gucci the authenticity, transparency and, most importantly, accountability that consumers seek.

They're not alone: Stella McCartney was one of the earliest and most vocal luxury fashion companies to adopt sustainable practices. Adidas has led the charge in the footwear space (yes, Adidas is a luxury brand now) by tapping into purpose-based branding with a focus on eliminating waste and environmental impact. It has pioneered the "sustainable sneaker" by using more eco-friendly materials.

So, how can you incorporate these tactics into your own luxury branding strategy? As some would say, the secret's in the sauce.

High-end luxury still revolves around the continued artisan craftsmanship that has long been part of the industry's DNA. Integrating sustainability into that narrative is key -- millennials love to know how the "sauce" is made.
A New Luxury Model
While brick-and-mortar retail will always be important to luxury fashion, the future of the industry is online. The rise of e-commerce is already in full swing, with many luxury brands building online shopping experiences to access millennial consumers in their natural habitats. According to Deloitte, 20.5% of millennials cited social media as their main source of high-end fashion and luxury product trends, compared to 15.1% who cited brands' websites.

Millennial luxury shoppers' online migration has resulted in another major shift in the fashion industry: "recommerce." Essentially, this is a higher-end online resale or consignment e-commerce store of authentic, highly desired fashion brands. Examples of recommerce brands include Luxury Garage Sale, Farfetch, TheRealReal, Poshmark and thredUP.

Luxury fashion recommerce is also powered by an unusual twist on purpose. By promoting resale and repurposed fashion, it helps contribute to sustainable consumption. We can look to one of the original sustainability designers, Stella McCartney, as a role model. Not only does she boast a line of high-quality, vegan products, but she also pays attention to the post-purchase life of her clothing.

The eponymous designer recently partnered with online retailer TheRealReal to facilitate future consignment. The futility of fast fashion is no longer acceptable. Well-made clothing that lasts is what's in, and this also means educating consumers on proper care and storage to ensure longevity.
Capturing The Millennial Market
The luxury market has grown at a staggering pace in recent years, yet luxury brands face serious challenges in the years ahead if they fail to engage millennial consumers on their own terms. Purpose is key. Brands must demonstrate that they stand for more than just making money. Promoting sustainability and ethical business practices is one way to stand out. Embracing millennial-focused business models such as luxury fashion recommerce also offers a way forward.

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Council Post: What Can Luxury Brands Learn From Gucci About Millennials?

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In 2017, Gucci's sales grew by 44.6% over the previous year. And in the first quarter of 2018, the luxury brand posted nearly $2.2 billion in sales revenue, up 48.7% compared to the same period last year. What's behind Gucci's blastoff? One reason is millennials.

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Shows a collection of brands which this generation are most likely to purchase from and involve in their day to day lifestyle, as well as the subtle luxuries that they aim for too. This generation is particularly involved in the digital world, a lot of these brands have a large social media presence which include the consumer to make them more inclined to purchase their products, the millennial generation is the key target for this.

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Gucci brand article discussing how targeting the millennial generation helped boost their revenue in the past few years. This generation doesn't necessarily purchase luxury to 'show off' but instead for personal satisfaction. However, this doesn't mean that they don't purchase these items at all. Gucci are working towards becoming more environmentally friendly which also lures this generation in and makes them stand out from other luxury retailers.

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A report on the luxury fashion market and how these brands have to adapt to the digital age, the millennials are more likely to buy into trends than other generations therefore these luxury brands can exploit this through the use of social media and marketing.

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Article about luxury fashion brands adapting their marketing and operations in order to target the millennial generation more. This is mainly through generating a much larger online presence, such as making links to influencers, and following the new trends to become appealing to Gen Y.

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Enterprise Ecommerce Blog - Enterprise Business Marketing, News, Tips & More

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According to Statista's Luxury Goods Report, online luxury sales are "projected to grow at twice the market rate and capture 18% of all sales revenue by 2023." While luxury consumers get convenience from ecommerce, retail stores aren't going anywhere.

Add the demands of millennial shoppers to the mix, and you'll see big changes are coming. After all, millennials (aged 23 to 36) are well into their careers and reaching their peak spending age. An upcoming life event, such as a party or wedding, is a major trigger to motivate millennials to buy luxury items. Since millennials are waiting longer before starting families, they can more easily cash in on their growing spending power.

Where can luxury fashion ecommerce brands place their bets to drive sales among this demographic? This post highlights how you can position your luxury brand for success among millennials.

1. Millennials and luxury ecommerce

2. Luxury brands targeting millennials with streetwear

3. Storytelling is good luxury marketing

4. Personalization in luxury ecommerce

5. Digital-first luxury brands have an advantage

6. Traditional luxury brands need to adapt

1. Millennials and luxury ecommerce

Exclusivity, quality, and high-end craftsmanship used to be the key differentiators for luxury fashion labels. But they're not enough to impress millennials. "To win with millennial consumers, brands need to understand what they value-personal satisfaction and purpose," says Diane Primo, Intralink Global's CEO.

Forbes reports millennials aren't just the most powerful consumers right now; "millennials and Generation Z account for nearly 50% of Gucci's total sales."

Betting on millennials was a smart move for Gucci-it shifted its brand promise early on with Gucci Equilibrium, a new purpose-driven, eco-friendly initiative. The new microsite highlights Gucci's involvement in social and environmental initiatives.

"This effort grants Gucci the authenticity, transparency and, most importantly, accountability that consumers seek," says Primo.

To truly resonate with millennials, luxury fashion brands must also rethink distribution channels and product offerings. They've got to focus on what millennials are most likely to buy-right now, it's casual streetwear.

2. Luxury brands targeting millennials with streetwear

"By blending urban and streetwear into their collections, traditional luxury fashion brands can recruit a customer base among millennials and stay relevant in a dressed-down future," Statista reports.

According to Statista's 2019 luxury report: "millennial consumers value the gain in freedom casual outfits offer. Having grown up in hoodies and sneakers made by sports and streetwear brands they are unlikely to give up the acquired relaxed understatement these casual outfits provide."

Fast fashion brands like H&M have collaborated with big name streetwear fashion designers for years to drive sales online and in-store. Now, luxury brands have jumped on the bandwagon. Cross-collaborations are a growing trend for luxury designers as they seek out streetwear brands to help them gain credibility among millennial shoppers.

Louis Vuitton is ahead of the game on this-having recently collaborated with the streetwear brand Supreme to target millennials.

Even sneaker brand Vans is getting into the luxury game to compete. Vans released six versions of its classic sneakers through a collaboration with the recently-deceased designer Karl Lagerfeld, who was the creative director for Chanel and Fendi.

It's important to note that streetwear and luxury collaborations are only powerful if millennials know about your promotion. Frequent online luxury millennial shoppers expect to see:

Online ads

A strong brand web presence

An inspiring story or narrative behind the brand

Let's turn our attention now to selling your inspiring luxury fashion story to millennials.

3. Storytelling is good luxury marketing

Social media is the leading way millennials discover new products -and you can help them love your brand by engaging with them in a meaningful way. It's especially critical during their discovery phase of your brand.
To boost engagement, you must create stories that resonate and motivate them to like your posts and respond through comments.
On the other side of engagement, you should be responsive to direct messages or comments. Take advantage of the opportunity to show off your brand personality-be helpful, and highlight your appreciation for their business.

Burberry has poured a lot of money into its digital media campaigns, enlisting Oscar-winning filmmaker Asif Kapadia to shoot a microfilm, The Tale of Thomas Burberry, for the holidays. Lily James, Domhnall Gleeson, and Sienna Miller also starred in the film.

The film depicts the 160-year-old history of the brand-showcasing its personality in the entrepreneurship, innovation, and personal struggles of Burberry's founder. It demonstrates how Burberry went from being a small-town apprentice at a local draper's shop in the late 1880s to the designer of a patented fabric used by polar explorers in 1911 and 1914.

The video also illustrates the evolution of his brand, and weaves in (pun intended) his personal life story-with his rocky romantic relationships to add an emotional twist to the plot.

Fans loved it. The video struck a chord with viewers, many of whom requested the ad to be turned into a real film in the YouTube comments. The video also has more than 15 million views and 24,000 likes since it was posted. Now that's engagement!

Storytelling should happen inside brick-and-mortar stores, too. Last year, Gucci unveiled a new concept store in New York to create a more accessible, meaningful, and millennial-friendly shopping experience. No more security guards or "cold undertones" of its usual store. When shoppers enter the new space, they're greeted by ambassadors, trained to tell the Gucci story.

The shopping experience includes "plush sofas and a multisensory screening room with 3D technology that offers documentaries and AR applications." The store design and fashions have a heavy streetwear focus and feel, too.

As described above, if you re-design luxury retail stores for millennials, you'll not only to tell a strong brand story, but should perfect the experience across multiple channels. Let's discuss this strategy next.

4. Personalization in luxury ecommerce

A Euclid study revealed, "almost half (48%) of millennials shop in-store a least once per week." But those in-person shopping sessions don't always lead to the checkout counter. Instead, they spur online buying.

Luxury brands must, therefore, boost their ecommerce investments to offer a seamless multi-channel shopping experience. One of the best ways to stand doesn't sound revolutionary but makes all the difference-it's offering fast and free shipping. That's because unexpected shipping costs are one of the main reasons people abandon their shopping cart.

With Amazon and Walmart offering same-day delivery in many markets, some high-end ecommerce stores have followed suit. Louis Vuitton offers complimentary delivery or the ability to pick-up or return items in-store, and duties are waived for international orders. Same-day delivery to select zip codes can be as affordable as $40.

Fast shipping and easy store returns are just a few ways to offer excellent customer service to millennial luxury fashion shoppers. How do you translate the in-store experience that Gucci is testing into an online experience? That's where ecommerce personalization comes into play.

Luxury ecommerce personalization

Luxury shoppers are used to getting special, individualized treatment in high-end stores. They're treated like a VIP, with access to private personal shoppers and exclusive shopping events. Some stores also offer to come to you for last-minute fashion emergencies (e.g., they'll bring personalized selections from the store to you in a truck).

It's another reason why millennials like to visit a store first. With innovations like artificial intelligence and machine learning, though, they can get a similar personalized experience online.

Custom-tailored shopping experiences "just for you"

High-end retailer Nordstrom has invested heavily in ecommerce to cater to millennial consumers' changing tastes. It's certainly paid off-30% of the retailer's total sales in 2017 came online, digital growth has continued to surge.

In line with Gucci's strategy, Nordstrom also now features streetwear clothing front and center on its designer landing pages.

Naturally, its website and app offer detailed reviews, helpful information about sizing and fit, and styling suggestions. But it steps up the shopping experience by giving consumers the option to browse through curated products "just for you" after taking a short quiz about their tastes and style.

Shopping in your local currency

In an increasingly global ecommerce market, casual luxury brand Rebecca Minkoff personalizes its global experience with IP geolocation. It's a smart strategy because unexpected costs like exchange rates can heavily impact a customer's likelihood to abandon their cart.

The ecommerce site updates currencies automatically in more than 100 countries and over 70 currencies. That way, customers know exactly what they'll pay before they click "add to cart." Shoppers can also select their preferred location and currency:

Most of the brands we've discussed so far were born in a retail environment. Now, they have to compete with the influx of digital-first luxury fashion brands. Let's take a look at some of the contenders fighting for millennial market share.

5. Digital-first luxury brands have an advantage

Digitally native luxury fashion brands are those that were founded online. These businesses have the benefit of having already captured the hearts and minds of millennial shoppers. And they're experimenting into the physical retail space.

Mr. Porter

Mr. Porter is the brother site of Net-A-Porter. It caters to men's fashion and lifestyle luxury brands, which is another growing luxury customer base. Like Net-A-Porter, Mr. Porter offers premium multi-channel assistance in select cities to its top customers, known as EIPs (or extremely important people). The service includes at-home shopping consultations, and a "You try, we wait" delivery service. Non-EIPs can access 24/7 customer care or fashion consultation by phone, email, or live chat.

For those shopping on its app, carts and wish lists are automatically synced with Mr. Porter's online accounts. It's a seamless on-the-go shopping experience.

Customers don't have to request VIP treatment to receive it. Ecommerce automation can help you set up an always-on VIP experience by identifying and segmenting important shoppers with a back-end workflows. Show some love to your big spenders-get your customer service team to give them special attention, like sending your VIPs handwritten notes.

Luxury fashion retail stores beware. Ecommerce can offer an equally engaging customer experience with the right tools. and the technology is getting better every day.

Traditional luxury brands need to adapt

To grow online, traditional luxury brands need to adapt and embrace the millennial shopping trends we've outlined. For traditional businesses, hope isn't lost-Gucci has proven that the ecommerce opportunity is there. But old luxury brand promises and value systems won't survive long-term.

Taking a page from the streetwear brands, luxury fashion businesses must embrace social and environmental responsibility. Adapt their product offerings for a growing customer base, and provide more experiential online shopping options.

These combined tactics will help you future-proof your luxury fashion business and win with ecommerce.

About the Author

Andrea Wahbe is a freelance B2B marketing strategist and corporate storyteller who writes about Canadian SMEs, marketing, and digital media trends. Follow her on Twitter.

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Millennials are Changing the Face of Luxury Ecommerce

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According to Statista's Luxury Goods Report, online luxury sales are "projected to grow at twice the market rate and capture 18% of all sales revenue by 2023." While luxury consumers get convenience from ecommerce, retail stores aren't going anywhere. Add the demands of millennial shoppers to the mix, and you'll see big changes are coming.

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This article shows evidence of how luxury fashion brands have created unique marketing strategies to win over this generations everyday consumer. They value creativity and are interested with new social media content ideas regarding how brands promote their products. It also discusses the way in which these luxury fashion houses have adapted to social media culture and humour to target these consumers, as they are at a point in life where they have the most disposable income to spend on these items.

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Why accessible luxury is winning over Millennials and Gen Z | News

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Luxury fashion needs to become more inclusive. Content Marketing Executive, Salomé Bakpa, discusses how brands can navigate the new rules of consumer…

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Article discusses ways in which brands have been successful when marketing millennials. This generation trusts expert reviews and good brand reputation as well as favouring brands which market through interactive and social media methods.

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Millennials love to participate. How do you think we got all those participation trophies?! We believe our viewpoints and opinions are just as important as anyone else's at the table and we want to be heard. A great way to do that is to recognize the unique way we use your product after we buy it. If you're a brand that we love and you give us a chance to be a part of that brand zeitgeist, we'll run with it.

La Croix is doing a great job encouraging customers to tag their Instagram photos with #lacroix by making customer photos a primary part of their feed.

When you scroll through La Croix's Instagram feed, more than 50% of their content comes from loyal La Croix drinkers who love the sparkling water enough to share about it. Each photo shows off that customer's personality but they all fit into the La Croix brand story.

La Croix doesn't let these posts sit idle. They share these fan photos, give that fan their 5 minutes of fame and make our voices heard.

Like mine! Below.

2. Offer a product that fulfills a Millennial's desire for a customizable, adventurous experience | Birchbox

Millennials want to be treated as individuals. Offering a service that is custom to our specific wants and needs is sure to get our attention.

Birchbox is a monthly subscription of beauty samples personalized to you based on your skin and hair type, beauty concern and style. Their design is beautiful, they have a no commitments attitude and the boxes are delivered to you.

There are a ton of subscription based services, but Birchbox goes beyond by offering customization, and makes finding new beauty products fun and easy.

Best of all, they've found a way to create an adventure mindset around beauty supplies.

69% of millennials say they crave adventure and this goes beyond hiking Machu Picchu. We want to bring adventure into our daily lives and Birchbox makes that possible in an easy and fun way.

Each month you receive a beautifully designed box with different samples picked for you. You never know exactly what you're going to get, bringing spontaneity and intrigue into the everyday.

3. Give Millennials the chance to live the brand story | Starbucks #PSL & the Orange Sleeve Society

The Pumpkin Spice Latte is more than a drink - it's the embodiment of a lifestyle, a mindset, an entire season.

Starbucks doesn't need to tell customers to take pictures of their Pumpkin Spice Lattes clad in sweaters and share them. We're already doing that on our own. And we want more.

A couple of years ago, Starbucks created the Orange Sleeve Society. As a member of the Orange Sleeve Society, you receive an orange knit coffee sleeve embroidered with "Team PSL", welcoming you to embrace your inner Pumpkin.

It was a genius move by Starbucks to take loyal Pumpkin Spice Latte fans and welcome them in deeper, to be a part of the Pumpkin Spice lifestyle, to be in the club, to be a brand-loyal superfan. Exclusivity is flattering... and something you want to share. And people have been clamouring to join in since.

4. Let customers be involved in developing your product line | Betabrand

We know millennials like to participate, share their perspective and be heard. Betabrand has taken these concepts to the next step by encouraging their customers to help develop their products.

Betabrand is an online clothing company where fans co-design, vote, comment and then crowdfund the best clothing and accessory ideas.

This genius model gets fans engaged and invested in a product from the very start. They are able to comment on any changes they would like to see, talk with the designer themselves, and show their enthusiasm when an idea knocks it out of the park. By the time a product is manufactured and shipped, the fan is so invested in the process that they're much more likely to spread the word.

Since 89% of millennials trust family & friend's recommendations more than claims by a brand, this model seems to have a lot of upside.

Plus they offer dress pant yoga pants. Yes. Dress pants... that feel like yoga pants. Clearly they know how to make a product that millennials can get behind.

5. Create a product or service that is convenient for Millennials | LOLA Tampons

Alright ladies. Time to talk periods. Menfolk... hi.

There's nothing worse than realizing you were the idiot who forgot to buy more tampons. And we all know the struggle when you're standing in Target deciding: "Should I buy 1 pack of regulars and 1 light? Just the multi-pack? How many of these boxes of these things do I really need??!"

LOLA feels your feels. They have taken a somewhat annoying task and turned it into a helpful, convenient experience. LOLA is a subscription-based service delivering 100% organic, cotton tampons in the exact assortment you want, so you get the precise number of lights, regulars and supers for your unique flow.

Millennials (and probably all women) will appreciate this service. LOLA simply pinpointed all the small nuisances women feel about their periods and fixed them.

In addition to being convenient and personalized, LOLA is transparent about their materials, offers the ability to cancel at any time, and has created a lifestyle brand around their product beyond simply selling tampons that encourages customers to follow and engage with their social accounts. All these elements combine to make them a brand and service that lady millennials are bound to love.

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How to Market to Millennials: 5 Brands Who Are Doing it Right

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Millennials love to participate. How do you think we got all those participation trophies?! We believe our viewpoints and opinions are just as important as anyone else's at the table and we want to be heard. A great way to do that is to recognize the unique way we use your product after we buy it.

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This article discusses the idea that there are two sections to the Gen Y. This is because there is a divide created by technological advances which cause the younger half of the generation to interact with brands differently. Those that use social media more frequently tend to be more conscious of brand discounts and loyalty schemes, which cause them to be more brand loyal.

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Everyone talks about how millennials are changing the way shopping is done, but how true is that really? A recent report by CouponFollow explains the differences between millennials and everyone else.
Who Are They?
Let's define our terms. Millennials are people born between 1982 and 1996, today they're 21 to 35 years old. There are 80 million of them in the US. They spend $600 billion annually and that's 28% of all daily per-person consumer spending. They are forecasted to be 35% of spending by 2030. No matter how you define it, millennial spending is important.
Where Do They Shop?
Millennials have a reputation for doing everything with their smartphones but the reality is strikingly different. A majority of millennials make most of their purchases offline. About a third of millennials make the majority of their purchases on a desktop computer. Only 16% of millennials make the majority of their purchases on a mobile device.

More millennial women shop in stores than men but that could be due to the nature of what they buy. If, as stereotypes would have it, women are buying more fashion and men are buying more hard goods, then it would make sense that shopping venues are not as much gender-based as they are product-based.

There's a real difference between older millennials (32-35) and younger millennials (20-23). Contrary to what you'd expect, the older millennials are more likely than the group as a whole to make a purchase on their mobile device. Younger millennials are more likely than the group as a whole to make a purchase in a physical store. Another suprising fact about the group is that when they shop for something both online and in a store, they are way more likely to make a purchase in a store than they are online.

One thing that makes millennials like their parents is that almost 80% are influenced by price. Even as much as they are looking for other values from their products like authenticity, local sourcing, ethical production and a great shopping experience, nothing beats a discount no matter how old you are.
What About Brands?
In our mergers and acquisitions business we know that a great deal of money and focus has been spent on acquiring brands. The presumption is that a branded product will command a higher price and more customer loyalty and that has often proven out. The question is, what will brands mean in the future and do millennials care about brands?

A majority of millennials follow brands on at least one social media platform. But they are highly driven by price. A majority of millennials say they follow brands on social media in order to get discounts. Two-thirds of millennials say they will switch brands if they are offered a discount of 30% or more. Only slightly more than one-third say they follow brands to get the latest trends and products and only 7% follow brands to participate in an online community about the brand.

All of that makes me think that the reliance that retailers and brand owners have had on brands to motivate consumers may be misplaced. It also says that acquirors of brands may have overestimated the importance and staying power of a brand. It appears that millennial customers, like their parents, are still highly motivated by the price and the discount.

Speaking of discounts, a majority of millennials search for a coupon before making a purchase. Not surprisingly, they do it more when they shop online (72%) than when they buy in a store (52%) but either way it's a high number. They spend an average of three minutes looking for coupons. That may not sound like a lot but if online shopping is meant to be fast, simple and easy, three minutes of searching for coupons is significant and clearly an important motivator.
What Does It Mean?
What does all this tell us about millennial consumers? We know they want different attributes in their products than their parents did and we know that they don't want to buy their parents' brands. What the research also tells us that millennials are not immune to the allure of discounted merchandise. That helps us understand the growth in fast fashion like Zara and H&M as well as off-price retailers like TJ Maxx, Ross Stores and Burlington Coat Factory. It also says that there is treachery in relying too much on brand loyalty. If millennials are willing to change brands for a big enough discount, will retailers ever get out of the cycle of having to discount merchandise to move it out the door? One thing that continues to be true no matter how old consumers are: If the merchandise doesn't motivate a consumer to buy it at its first price, it takes heavy discounting to make a product move. Whether a consumer is millennial, boomer or Gen Z, giving them what they want is the only way for a retailer or brand owner to have a sustainable business. Price is never going to be the way for a brand owner to motivate consumers and make a consistent profit.

... Read More

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There's a lot of talk about millennials, what they want, what's important to them and how they shop. How much of all that talk is real? This article gets information from a newly released study that describes how millennials behave when they're shopping.

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Article breaks up societal categories based on attitude towards fashion for Gen Y and shows the stores and brands that they are most likely to purchase from.

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Erica Lopez, 31 years old, is having growing pains. "My tastes are growing more expensive," admits the executive recruiter from Ann Arbor, Michigan. "I'm making more money and buying nicer clothes, accessories and shoes that better reflect my position in my life and career. A lot of my friends and colleagues are doing the same. We feel like we need to keep up with our peers."

Erica's situation is not surprising, according to a recently-published report from Goldman Sachs co-authored by Alexandra Walves, Jason English, Heath Terry, Matthew Fassler, Richard Evans and others. Based on a study conducted with Conde Nast examining U.S. millennial and GenZ shopping behavior and brand affinity, it found that fashion-conscious millennial women or "It Girls," like Erica, who tend to be more affluent than the average millennial, have accelerated their shopping and spending on apparel, accessories and footwear in the past year, and shifted more purchases online.

Many retailers who established their businesses selling to older GenX consumers are also doing well with fashion-conscious millennials. According to the study, It Girls prefer to shop at Forever 21, H&M, Zara, American Eagle and Free People. Target came in fourth place this year, pretty impressive since it wasn't even in the top 10 last year.

Favorite brands among fashion-conscious women include Nike, Kate Spade, Michael Kors, Adidas, Gucci, Coach and Lululemon. Brands that have come onto the It Girl radar in the past year and are therefore important to watch include Fabletics, FashionNova and Everlane.

Millennial Muscle

It's no secret that millennials, consumers roughly between the ages of 23 and 38, are the most important demographic group impacting apparel and other style-driven markets today. Along with their teen- and college-age GenZ cohorts, they control almost a third of apparel spending and are the key target of fashion marketers. Their spending is expected to increase almost 40 percent in real terms over the next decade and a half as they approach their peak earning and spending years. Their unique approach to consumption, focusing on convenience, experience, authenticity, and value, is different from that of their GenX and Baby Boomer forebears.

Much attention has been paid to the millennial attraction to brands such as True & Co., Outdoor Voices and M. Gemi. But the widely-held belief that younger consumers want no part of traditional brands or retailers is just plain wrong, according to the Goldman research. These consumers, it turns out, have a penchant for many of the same stores and brands as their older GenX and Baby Boomer cohorts, including Old Navy, Levi's, Express, J. Crew, Puma, Wrangler, Hanes, Converse.

The top three favorite clothing brands for millennial women are Forever 21, American Eagle and Old Navy. For men, it's Nike, Adidas and Levi's.

The favorite apparel brand of It Girls, according to the research, is Victoria's Secret. Although the intimate apparel leader is losing ground to Aerie and Calvin Klein, its high affinity and preference rankings are evidence that the lingerie retailer will get a lot of leeway from its core customer base when it finally figures out how to fix its product and marketing issues.

It Guys

Jake T. is a 21-year-old New Yorker who still obsessively follows his favorite baseball team, but spends less time watching sports and playing video games than he used to. He's recently begun scoping out the job market on Indeed and LinkedIn, planning for life after college-a life that he hopes will include nicer clothing.

Jake remains a fan of brick-and-mortar shopping for clothing, preferring to try things on before buying to make sure it feels and looks good, but his store and brand preferences are evolving. His favorite brand now is Calvin Klein. "A couple of years ago, I liked to shop in Kohl's," said the college senior matter-of-factly. "But the product there isn't stylish enough for me anymore. Now I prefer shopping in Macy's, Lord and Taylor and Nordstrom if they're having a sale or my mom is paying. I really like the Alfani stuff at Macy's. And I have started to order clothes online more often, particularly if I can't find my size or color in the store or if I know the brand fits me well."

The more fashion-conscious men surveyed by the Goldman/Conde Nast study report J. Crew, H&M and Polo as favorite clothing brands, with Calvin Klein number one in underwear. In bags and briefcases, Coach and Herschel emerge as favorites, but Nike comes out on top for athletic bags.

The Rapid Shift Online

Most millennial and GenZ consumers gravitate toward mass market retailers. The typical millennial woman and man, according to the study, prefer to shop at Amazon, Walmart and Kohl's. Walmart and Kohl's have enjoyed double-digit e-commerce sales growth in the past year. Walmart expects its online sales to grow by 35 percent in the fiscal year beginning February 2019.

The most dramatic finding of the Goldman Sachs/Condé Nast report is the accelerated rate at which fashion shopping is moving online. Younger consumers are doing more of their fashion spending in e-commerce channels, with clothing enjoying the highest penetration. Consumers in their late 20s spend the biggest portion of their clothing spending online, close to 50 percent or more.

Amazon Accelerates

Amazon is now the most powerful online distribution channel in the U.S., having consistently gained share of the apparel and accessories market as it expands its offering across many categories. In every category surveyed, men chose Amazon as their #1 or #2 retailer. Although the most fashion-conscious had mixed reviews of Amazon, for women overall Amazon moved up from #4 last year to #1 this year.

Amazon often enters a category by leveraging third-party sellers, then scaling to attract brands into the fold while it builds private labels as low-cost alternatives to national brands.

Since 2017, the company has launched a reported 60 private label brands, mostly in apparel, footwear and accessories. Although there are many critics who say that Amazon has not yet figured out the formula for success in private label apparel, which lags far behind electronics and household products, Amazon has been moving up in the apparel preference rankings of young consumers so quickly that it is now the dominant retailer in almost every category of mainstream fashion. Although young men are more likely to name Amazon as their number one destination for apparel, women in the study gave the Seattle-based giant the top spot in clothing handbags and premium/luxury brands.

Athletic Achievement

For most young consumers, fitness a key part of their lifestyle. The importance of athletic apparel and footwear to this demographic cannot be overstated, and Nike continues to reign supreme as the number-one athletic brand across all millennial consumer segments, with Under Armour, Lululemon, Adidas and Puma also significant.

As these brands have expanded their athleisure and streetwear product lines, they are being shopped increasingly for everyday wardrobe staples, with millennial men reporting Nike, Adidas and Under Armour among their favorite clothing brands. The study found Nike ranks as the favorite clothing brand among GenZs, and first among all footwear brands (not just athletic footwear) for every consumer segment.

Under Armour, though highly ranked in athletic apparel, has had a tougher time in footwear. This might be changing, however. For the first time, Under Armour finally broke into the top 20 favorite footwear brands for young men, and came in as number 16 for GenZ.

Up Next: GenZ

Though lacking the financial firepower of their older cohorts, GenZ is already having an impact on apparel consumption. Their command of the digital and social landscape will continue to drive change in the industry. They buy the biggest proportion of their apparel online, often through social media and mobile apps. For GenZs, Snapchat beat out both Facebook and Instagram for the favorite app spot.

They are also the group that is the most eco-conscious: 19-year-old Avery I. said: "One of my favorite places to shop is definitely Goodwill. Almost all of my sweaters, t-shirts, comfy jackets, and even a few dresses come from there. I love the uniqueness, and it's so rewarding to hunt for what you like." The environmental science major from North Carolina said she much prefers shopping in stores rather than online because "You know immediately if something fits you or is the proper color without having to wait a week to try it on. Also, I hate all the packaging involved in online shopping; it's super wasteful."

Brands ranking very high with GenZ consumers in the study include Nike, Under Armour, UGG, Converse, Gucci, Coach and American Eagle. Next-gen lingerie brand Adore Me finished in the top 5.

Luxury Is in the Eye of the Beholder

For the first time this year, Goldman did a deeper dive into the premium space. In this category, traditional luxury brands, many of whom have hired young, edgy design directors like Alessandro Michele (Gucci) and Virgil Abloh (Louis Vuitton) to attract younger consumers, were a mixed bag. Gucci clearly came out on top for It Girls, men and GenZs. Kate Spade, Louis Vuitton, and Chanel also ranked high for young consumers, as did Polo and Prada. Conspicuously absent from the top ten are Hermes and Versace, though Michael Kors's acquisition of the latter might change that. Millennial women prefer Michael Kors and Coach.

It's interesting that men put Nike and Adidas in the number 2 and 3 spots in the luxury category! With an increase in collaborations between luxury and heritage brands, the boundaries between the segments may begin to blur.

Although it's tempting to generalize when talking about consumer groups, there are some significant variations within them that drive important trends. For example, the growth in ultra-high-end athleisure like $400 leggings at Carbon 38 and $700 Balenciaga sneakers indicates that even a value-conscious customer is willing to sometimes pay top dollar for product that is special.

Social Climbing

For women and fashion-conscious men, social media platforms are becoming more important than shopping apps for new brand and product discovery and purchase. The study found that among millennial women, Facebook still ranks number-one, but Instagram, the favorite among It Girls, is gaining ground. GenZs prefer Snapchat.

Erica follows about two dozen fashion influencers, twice the number that were on her Instagram feed last year. Jake has recently begun to follow a few fitness and fashion bloggers to get style and grooming ideas. Avery follows on average three to five influencers on Instagram but also gets lots of inspiration for style ideas from Pinterest.

Established and up-and-coming apparel brands and retailers need to do more than just establish a presence on digital platforms. Social needs to be an integrated, planned and measured piece of a holistic marketing communications strategy that includes PR, digital marketing, content marketing and events.

Implications and Opportunities

Millennial and GenZ consumers are being respected for more than just their purchasing power and style influence. They are also exerting influence on others, getting them to start behaving differently, impacting commerce in a major way.

Retailers seeking ways to expand their business with millennials should focus not only on the more fashion-conscious among them, who spend more, but also on the online-loving mainstream that represents the biggest population. The fact that they love many of the same brands and stores as older consumers should be encouraging news. But they need to be met on their own turf, with youthful product, compelling branding, a sustainability story, understandable pricing strategies, social media and blogger marketing, and an enhanced online and in-store experience.

Only then will the merchants and brands capturing the attention of these challenging consumers be able to keep their interest and, hopefully, their loyalty.

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Millennial Brand Preferences: A 2018 Update - The Robin Report

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Erica Lopez, 31 years old, is having growing pains. "My tastes are growing more expensive," admits the executive recruiter from Ann Arbor, Michigan. "I'm making more money and buying nicer clothes, accessories and shoes that better reflect my position in my life and career. A lot of my friends and colleagues are doing the same.

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Article contains a comparison of the 'coolest' brands that Gen Z and Gen Y purchase from the most. The lists are kind of similar however there are a few differences which could be influenced by the older half of Gen Y, who would have a completely different fashion taste.

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What fashion brands do Gen Z & Millennials say are cool right now-and what are they doing right? Our youth brand tracker has the top coolest fashion ranking for 2020...

Between the rise of ugly fashion, the return of 2000s style, and the proliferation of social media fueled niche styles, it can be hard to pin down what exactly cool looks like to Gen Z and Millennials. It doesn't help that they're two generations that proclaim not to follow fashion trends. According to our fashion and shopping survey, 73% of 13-37-year-olds agree with the statement "I don't care about fashion trends; I just wear what I like," and only 18% would call their personal style trendy.

So if these groups believe their style isn't defined by trends, what does cool look like to them? The New York Times, calling Billie Eilish Gen Z's fashion role model, suggests it's the "new generation's rejection of the flirty babe aesthetic in favor of something more crazily improvised and less strenuously sexual." YPulse's music survey found that Gen Z and Millennials see Billie Eilish as one of the top 10 musicians who represent their generation-in large part because of her "individuality and genre-defying style." Eilish has become an icon with her signature oversized clothing, crazy hair color, and pairing of high- and low-end aesthetics. Uniqueness, personal comfort, mold-breaking, and creativity are the hallmarks of her look-and part of young consumers' current definition of what cool actually looks like today.

But what brands are capturing this ethos-or helping Gen Z and Millennials to express it? Young consumers are turning the tables on luxury and leaning into authenticity, and while some brands struggle to understand how to reach them, others continue to win them over-and we're tracking what fashion brands are staying cool with Gen Z and Millennial consumers. The YPulse brand tracker, available to Pro subscribers, collects 100,000 interviews with 13-39-year-olds annually, tracking over 400 brands across 16 distinct diagnostics. We ask young consumers everything from what brands help support the causes they care about to which, you guessed it, are cool.

Here are 15 of the coolest clothing brands in the eyes of young consumers right now:

Many brands make it onto both lists, including Nike, which once again tops the coolest fashion brand ranking for Gen Z and Millennials. But there are a few key differences. Hot Topic, consistently a Gen Z favorite for catering their individuality and their fandoms, doesn't even make it into the top 15 rankings for Millennials-and Aeropostale and UGG are also unique to the younger group's list. (UGG's appearance on this list is a clear example of ugly fashion and 2000s resurgence at work.) Meanwhile, some brands that Millennials rank as the coolest, like Fashion Nova, Levi's, and Puma don't rank in the top 15 for Gen Z, showing a slight difference between what the generations think of as cool.

But at the same time there are clear commonalities, and trends connecting the top brands that both groups consider cool right now:
ATHLEISURE MAKES COMFORT COOL
Nike, Jordan, and Adidas, long-time favorites, rank highly at the top of the list of the coolest clothing brands in the eyes of young consumers. These athleisure brands understand what young consumers are looking for-shopping as an experience, a sense of community and limited-edition products. Their drops are legendary, with Air Jordans featuring as a large part of pop culture. These brands have created new trends in retail, and at the same time appealed to a top fashion priority among young consumers: Comfort. Comfort is key for Gen Z and Millennials with the majority telling YPulse they would describe their personal style as comfortable and over half saying they describe it as casual-and the brands and trends that allow for both win with these generations. Athleisure brands have come to define style and cool for young consumers, and they aren't slowing down. The athleisure market was valued at $155.2 billion in 2018 and is expected to reach $257.1 billion by 2026. They've also expanded their reach far beyond their "athletic" roots, following the cultural trends set by their young audience: Adidas, Puma, and Nike (among others) all sell apparel featuring gaming icons or have partnered with gaming celebrities over the last year.
IT'S COOL TO CARE
Several of the fashion brands on Gen Z and Millennials' cool ranking are well-known for their efforts to make the world a better place and support causes that matter to young consumers. Nike's Kaepernick campaign is a huge example of course, but the brand also hits the mark on the sustainability front, with their recent line of NASA-inspired " Space Hippie" shoes, which use scraps of material that Nike has collected from its factory floors. Close to nine in ten 13-39-year-olds tell YPulse that buying products from brands that have social good components makes them feel better about spending money, and they are willing to spend 10%-50% more on products that perform similarly to others but are eco-friendly. Speaking of eco-friendly, Patagonia is #15 on Millennials' cool ranking. While the generation likely has fond memories of wearing the brand growing up, the brands' clear environmental efforts are keeping them cool in the eyes of this group.
BRAND COLLABS CAN BOOST COOL MEASURES
Supreme is in the top 10 ranking for both groups, and we've talked about the ways this brand is winning with young shoppers. Eighteen-24-year-olds are the biggest fans of Supreme, which has maintained its status as one of the hottest and coolest fashion brands among young consumers for years. Gen Z shoppers have fueled a return of logomania, and Supreme has become a top logo they say they would be proud to wear. The brand has strategically played off of their famous logo for years, and collaborated with many brands, including high-end labels like Luis Vuitton, showing the power of brand collaborations. They've also likely boosted the cool factor for some of the brands they've paired with that also appear on this ranking: North Face, ranked #7, has teamed up with Supreme every season since 2007, and stores have dedicated space to "urban wear."

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Young Consumers Say These Are The 15 Coolest Clothing Brands of 2020 - YPulse

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Between the rise of ugly fashion, the return of 2000s style, and the proliferation of social media fueled niche styles, it can be hard to pin down what exactly cool looks like to Gen Z and Millennials. It doesn't help that they're two generations that proclaim not to follow fashion trends.

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The increase in clothing rental companies has been made popular by the millennial generation. They are interested in recycling fashion as well as staying trendy, brands like RentTheRunway provide them with the best of both worlds.

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Urban Outfitters is the latest store to announce that it would be launching a clothing rental service.

In fact, it's so confident that young consumers want to rent their clothing rather than buy it outright that it has launched an entirely new business to support this. Called Nuuly, the new business launches this summer, giving members the chance to rent clothing from across Urban Outfitters' brands - Urban Outfitters, Anthropologie, and Free People - as well as from more than 100 third-party brands such as Reebok, Levi's, and Wrangler.

Urban Outfitters is in good company. Other brands such as American Eagle and Express are already offering their own versions of clothing rental and reacting to changing habits in the market.
Read more: Rent the Runway is now reportedly a $1 billion company in its quest to become 'the Amazon Prime of rental'
Last year, Business of Fashion called out rental as being one of the next big trends in the fashion industry and a natural progression from what has been happening elsewhere.

"In more and more categories, consumers are choosing to rent rather than own goods outright," a group of writers wrote in the publication's State of Fashion report for 2019, naming Netflix, Spotify, and ZipCar as examples. If millennials aren't buying houses, cars, or the latest movie, why would they keep buying clothes?

"This is a fundamental evolution in consumer behavior and we expect it will have an impact in the fashion business in the years ahead," they wrote.

Rent the Runway is the leading player in clothing rental right now. The company was valued at $1 billion in March after raising $125 million in a round of funding. CEO Jennifer Hyman has said that she has set her sights on creating the Amazon Prime of rental.

"This new living closet that we've created is going to apply not only to how you get dressed, but it'll apply to all of the products that you use," she told The New York Times in March.

"Nothing is off the table," she told Business Insider. And she's already made progress. Via a partnership with West Elm, Rent the Runway recently added kidswear and bedding to its offering.

Attitudes towards ownership are changing

Beyond renting a tux for a wedding weekend, clothing rental hadn't quite taken off until now. That is largely because attitudes around shopping for clothing are changing.

Experts say that young consumers are looking for more sustainable ways to shop and choosing to live clutter-free lives in the spirit of Marie Kondo.

And rental fits neatly in with both of those habits: It feeds their thirst for newness and does so in a sustainable way.

There's an obvious loser in this scenario, however. That is the fast-fashion store - H&M, Forever 21, Asos, for example - that has traditionally lured younger shoppers with low prices and constant turnover of clothing.

While the backlash against these stores isn't widespread yet, it's brewing.

"The signals are [fashion is] on the same trajectory as plastics and forests and alternatives to meat," Mike Barry, director of sustainable business at UK retailer Marks & Spencer, recently told The Guardian.

"It would be a very brave business leader who didn't look into the next 12 to 18 months and say we are not heading there," he said.

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Millennials' attitudes towards clothing ownership are bringing about a major change in the fashion industry

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Urban Outfitters is the latest store to announce that it would be launching a clothing rental service. In fact, it's so confident that young consumers want to rent their clothing rather than buy it outright that it has launched an entirely new business to support this.

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Article about Gen Y's impact on the fashion industry and how they have the potential to save the industry through promoting ethical standards and sustainability.

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Why Millennials Could Save The Fashion Industry

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Well Made Clothes brings you the best ethically sourced fashion brands. Find local, sustainable, fair trade clothing and buy online!

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Another article discussing the idea that millennials are not a fan of flashy designer items and much prefer subtle luxury. As well as this they tend to favour environmentally friendly brands and have a strong interest in sustainability. They are therefore able to have a larger influence on the younger generation with the increasing popularity of fast fashion and finding ways to promote a more sustainable attitude towards fashion.

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With the daily output of masks touches over 20 million, China introduces new standards for... Read more

Shengze, home to the largest silk wholesale market known for silk and man-made s... Read more

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HOW MILLENNIALS ARE SHAPING THE FASHION WORLD

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FashionatingWorld is a seamless network of web platforms with sector focused approach on Fashion, Retail, Apparel and Textiles.

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How the Gen Y approach fashion and their attitudes towards style and brands, as well as luxury vs high street.

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The fashion and retail industries are largely aiming their marketing and products towards the millennial market. More and more every day, they look towards this group of people to buy their products and use their services.

Why is this? Quite simply because they are interested in their appearance, keeping up with trends and they are now spending more money than the baby boomer generation.

According to Business Wire, this outspending from one generation to the next originally caught the retail and fashion industries off guard.

Back in 2013, Les Berglass, chief executive officer of Berglass & Associates, said: "Millennials have different motivations, attitudes and behaviours than previous generations, and retailers need to adjust their business strategies accordingly in order to thrive."

And this is exactly what they did, they took stock of the fact that millennials are firm fans of fashion and shopping and now, retailers treat them as their most important demographic.

Millennials have a huge influence on the market and according to Millennial Marketing, this group of people has even managed to change the language that brands use to discuss their target audiences.

Now, fashion and retail houses chase after the Millennial Mindset that encompasses everyone from someone who is 25 to someone who is 50.

This mindset is largely focused on six main things, social presence, connectedness, innovation, trustworthiness, purpose and accessibility.

To get inside the thoughts and urges that drive millennials, and particularly those who are very successful within their industry we've outlined some things that you might want to take a note of for your reference.

Fashion and social media are interchangeable

Often, when people think about millennials, they're drawn to an image of someone with their phone out, taking pictures and uploading them to several social media platforms with enough hashtags to look like they're writing in hieroglyphics.

However, fashion is a sociable thing in the sense of an activity to go and enjoy with friends and in terms of the networks that keep all of us updated about each other's lives.

According to Piper Jaffray's Taking Stock with Teens & Young Adults survey, people's friends have been their biggest influence on the things they buy and aspire to wear.

When you combine friends with the internet, you come up with social media, and there are several websites that are specifically dedicated to sharing fashion with your friends.

This creates what's know as fear of missing out, or FOMO, which happens when people see what their friends are doing, feel envious and want to emulate it.

As such, you'll see people posting pictures of themselves online before they go on a night out, or to a fancy party, which builds up FOMO, in the mind of the millennial, and leads them to go shopping for similar outfits. Or at least find somewhere that they can go out and post pictures of themselves having a good time and looking great.

In particular, you'll find that millennial women will be keen to read fashion blogs and spend hours looking through photos on Pinterest choosing outfits and putting things together before they decide on an outfit they want to buy.

The most successful brands in the fashion industry have created influencer campaigns that inspire engagement from their followers. This is opposed to the old, traditional forms of marketing that involve shouting a message across their channels.

Engagement across social media is something that all fashion brands are now beginning to do, by spreading their message in this non-threatening way, they're getting a much warmer reception from their millennial audience.

In marketing lingo, this is what's started being known as a call to participation, instead of a call to action.

People like their fashion to be personal

High quality is something that millennials are very keen on, you'll find that even on the high street, retailers are beginning to use better quality materials that not only look better, but feel and wash better too.

This doesn't necessarily mean that millennials will want to have brand names slung across their chests, they will be interested in designers and such, but it's likely that they'll prefer it to be much more subtle. The quality should be able to speak for itself, instead of the words that are emblazoned across the front of a t-shirt, or pair of trousers.

According to research from Ypulse, it's more important for people ages 13 to 34 years old to express their individuality with their clothes: So they will be more interested in a personal sense of style, rather than being fashionable.

Following trends can be the death knell if a millennial is torn between whether or not they should buy a piece of clothing. For this reason, retailers are advised to leave the words, best buy, bestseller, or popular item off their clothes - as long as they're looking to keep making sales.

One group of people who seem be a big influence on this idea of individuality are millennial parents. Research from Ypulse has shown that parents in this age group are keen to be seen as more than just a Mum or a Dad and feel that their clothing and fashion choices are a big part of this.

Bargains are always a winner

Millennials have aspirations of status that separate them from the likes of the baby boomer generation, as such their fashion and the choices that lead them to their fashion will be completely different.

For example, a millennial will be more likely to splurge on an expensive leather jacket and then cut costs somewhere else, for example they might spend less on their groceries for a couple of weeks, or forsake going out for dinner for a month.

However, millennials are also big fans of hunting out a bargain, which is why you'll see places like TK Maxx packed out, particularly on the weekend. This also takes care of two birds with one stone, as they're not just getting a bargain, they're also buying high-quality designer clothes.

In a slightly different manner, millennials also tend to be fans of investing in a couple of items that are more expensive and then pairing them with cheaper items.

For example, a millennial might spend a lot of money on a really good coat, high quality shoes or a bag that looks great and will last a long time. Then they will wear a multitude of different things with those items, tops from H&M, or trousers from Topshop and other high street retailers (although Topshop is at the premium end of the high street).

Vintage stores and boutiques have become more and more popular to the millennial over the past few years too. These types of shops feed into the millennial interest of finding unique pieces, that are not only individual, but also have a cool retro element to them.

Different apps and websites are also allowing millennials to fulfill their need for shopping without breaking the bank. Ebay has been constantly increasing in popularity for years, particularly as it is a double strain because you can buy things from it, but you can also sell things on it, which means that you can refresh your whole wardrobe and pretty much break even.

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Retail and fashion industries and millennials - M by Montcalm Blog

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The fashion and retail industries are largely aiming their marketing and products towards the millennial market. More and more every day, they look towards this group of people to buy their products and use their services. Why is this?

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How their attributes make them a valuable member to a workforce team.

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Over the past decade, millennials have been unfairly scrutinized by other generations. Millennials' are the future of our workforce in the UK and across the globe. It is crucial for organisations to understand the worth of generation Y and to recognise that they are an asset to their teams.

The stereotyped millennial

Millennials have been stereotyped as being lazy and self-entitled because they are born of a generation that was given participation trophies just for getting involved. However, there will always be those in each generation who feel they deserve more than they earn. It's most likely this belief comes from the fact that millennials are quite switched on when it comes to knowing what they're worth. A professional that has gone through four years of rigorous university study, only to be offered minimum wage, is not categorically entitled if they ask for more.

Characteristics of a Generation Y professional

Unsurprisingly, the stereotyped characteristics of an entire generation aren't usually accurate. We have put together some of the positive traits found in millennials at work.
Technology
One of the obvious characteristics of a millennial is their natural instinct for technology. Those born between 1981 and 1996 have grown up with computers, phones, iPads, and everything in between. So, picking up and working with new software and hardware is second nature to them. Their tech-savvy nature is helping ensure technological resources work as they should, meaning that businesses get the most efficiency and productivity out of the tools they are using.
Creativity
As a generation that has grown up alongside massive leaps in technology, it's easy to see why their outlook on life aligns with 'anything is possible'. Their creativity means that they're tackling tasks with new ideas and fresh outlooks. This is quickly eradicating outdated processes and bringing in more streamlined solutions.
Collaboration
This generation is also notably collaborative. From their first day of school, all the way to university, their teachers have put emphasis on the importance of working together, listening to one another, and pulling together everyone's strengths to get the best outcome. Pair this with millennials' use of collaborative technology, such as group chats and emails, and it makes for an efficient taskforce for any project.
Environmentally friendly
Millennials are also extremely concerned about the environment, which means they are more eco-friendly than previous generations. This consideration for the environment is helping companies to reconsider their own policies regarding everything from paperwork to recycling, which is beneficial for business branding.

It's a combination of their positive traits that are coming together to create change in workplaces around the world. The millennial attitude is not one of disdain for the workplace and superiors but a love of a challenge, the right attitude to solve problems, and an ingrained sense of needing to help.

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The benefits of hiring from the Generation Y workforce | Michael Page

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Over the past decade, millennials have been unfairly scrutinized by other generations. Millennials' are the future of our workforce in the UK and across the globe. It is crucial for organisations to understand the worth of generation Y and to recognise that they are an asset to their teams. Millennials have been stereotyped as being lazy and self-entitled because they are born of a generation that was given participation trophies just for getting involved.

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Article shows some of the most popular career paths for the millennial generation. This list shows the impact of technology on their careers. As well as this they are a social generation of people and this is also shown in this list through several hospitality based jobs.

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Millennials, many of whom graduated around the Great Recession (circa 2008), were faced with a challenging time to enter the workforce and begin growing their careers. Faced with fierce job competition and an unemployment rate of 10 percent, many millennials, especially recent college graduates, took part-time jobs or jobs unrelated to their field of study in order to make ends meet. This, in part, resulted in millennials as a generation lagging previous generations financially, affecting everything from marriage and homeownership rates to salaries.

Despite this, millennials are currently the largest generation in the workforce, and with current unemployment rates dropping as low as 3.9 percent, researchers at LiveCareer wanted to see what are the most popular jobs for millennials today. LiveCareer analyzed the most recent Current Population Survey from the Bureau of Labor Statistics to determine which jobs are most common among millennials based on the proportion of millennial employees.

Takeaways

Across all occupations, millennials account for 31.7 percent of total employment. In the most popular jobs for millennials the numbers range from 45.5 percent for dental assistants to 60.0 percent for bartenders.

The median age of employees across all occupations is 42.2. For the most popular millennial jobs, the numbers range from 26.6 for waiters and waitresses to a high of 37.6 for physicians assistants.

While millennials are more likely to be working jobs with below average wages, they are also more highly concentrated in occupations with above average growth projections. Employment in the 15 most popular jobs for millennials is projected to grow by an aggregate 12 percent between 2016-2016. The national average across all occupations is 7.4 percent.

Around half of the most common millennial jobs are service occupations, none of which require a bachelor's degree or higher; and only four of the 15 most popular millennial jobs require a bachelor's or master's degree.

Interestingly, many of the most popular jobs for millennials are also related to healthcare, which is projected to grow as the population ages and older generations begin to seek additional medical care. Similarly, as older generations retire and their jobs become available, millennials will have opportunities to fill their shoes, which might involve changing career paths altogether.

In the coming years, it will be interesting to see how popular jobs for millennials change (or stay the same) with an improving economy and shifting demographics. Here are today's most popular millennial jobs.

The 15 Most Popular Jobs Among Millennials

15. Dental assistants

Dental assistants perform many duties in a dentist's office, including taking x-rays, setting up equipment, or performing administrative duties such as recordkeeping and scheduling. While dentists are required to have an MD in dental medicine, dental assistants can be trained on the job or by passing an exam after completing an accredited program. The high job growth can be partially attributed to the healthcare demands of an aging population.

14. First-line supervisors of food preparation and serving workers

The duties of first-line supervisors involve coordinating activities of workers who prepare and serve food. Supervisors may also handle financial activities, such as payroll and cash handling, as well as customer service. Supervisors are often responsible for ensuring supplies, equipment, and work areas adhere to industry and safety standards. Most of the skills required for this service-oriented profession can be learned on the job; developing strong "people skills" is a must.

13. Market research analysts and marketing specialists

Market research analysts and marketing specialists perform a variety of tasks related to analyzing sales markets and creating marketing campaigns to promote a good or a service. People who hold these jobs may work in-house for an organization, or as part of a third-party agency or firm that handles multiple client accounts. Market research analysts gather information about consumers' wants and price sensitivity, as well as the competitive landscape. Marketing specialists then take this information into account to launch marketing campaigns on behalf of a company.

12. Medical assistants

Medical assistants collaborate with physicians to perform administrative tasks such as medical billing, filing, and scheduling, as well as limited clinical services like drawing blood, administering medications, and recording vital signs. Medical assistants are not the same as physician assistants, who require graduate-level education and are licensed to perform more extensive medical duties. Medical assistants do not require a college education, and most complete a postsecondary certificate or learn through on-the-job training. The job outlook for medical assistants is bright, with 29 percent projected growth, largely because baby boomers are seeking more healthcare services.

11. Meeting, convention, and event planners

Event planners work within a company, a venue, or as an independent agency to arrange meetings, conventions, or other events. They coordinate multiple vendors and stakeholders, such as staff, convention personnel, and clients, to take care of the logistics of an event. Event planners typically hold a bachelor's degree and earn a median annual wage of $48,290. With 10.9 percent projected growth by 2026, the job outlook is a bit stronger than the national average.

10. Physician assistants

Physician assistants earn the highest median annual wage ($104,860) and require the highest level of education (a master's degree) of any occupation on this list. With the rising number of baby boomers seeking medical treatment as they age, the number of physician assistants is projected to grow 37.3 percent by 2026. Physician assistants work under the supervision of a physician to conduct physical exams, administer treatment, and provide medical counseling to patients. Despite significant educational requirements, physician assistants do not have the full licensure of a physician. Physician assistants are also not the same as nurses, who have different educational requirements and job responsibilities.

9. Statisticians

Statisticians have the second-highest median annual wage on this list ($84,060) and typically have a master's degree to work in the field. This heavily analytical profession involves collecting, organizing, interpreting, and summarizing data with the help of mathematical or statistical theories and methods. Statisticians may choose a specialization, such as bio-statistics or economic statistics.

8. Emergency medical technicians and paramedics

Emergency medical technicians (EMTs) and paramedics assist injured and sick persons by assessing injuries, administering emergency medical care, and providing transport to hospitals via ambulance. All EMTs and paramedics must be licensed, which requires a special postsecondary program. The total employment is 223,000 and the projected job growth for this profession is about twice the national average. This profession is known for being highly stressful, but also essential to public health and safety.

7. Phlebotomists

Millennials account for half of the phlebotomists in the U.S. Phlebotomists work in clinical or lab settings and draw blood for tests, transfusions, donations, or research. This is a patient-oriented position, and phlebotomists often explain the blood drawing procedure to patients and provide medical assistance in the event of an adverse reaction. Phlebotomists usually receive a certification from a postsecondary phlebotomy program before starting work. This profession is expected to grow 24.5 percent by 2026.

6. Telemarketers

Half of the telemarketers in the U.S. are millennials. Telemarketers use the telephone to call potential donors to solicit donations or customers to sell goods or services. There are currently 58,000 telemarketers in the U.S., and this number is expected to remain the same between now and 2026. Telemarketers do not require a formal diploma or degree, but must be comfortable calling many people on the phone every day.

5. Hotel, motel, and resort desk clerks

Desk clerks work in hotels, motels, and resorts to assist guests with booking rooms, issuing keys, transmitting and receiving messages, and collecting payments. There are currently 125,000 people employed in this profession, and the job outlook of 4.4 percent growth is lower than the national average of 7.4 percent. Only a high school diploma is required, and the median annual wage is $22,850.

4. Tellers

Tellers work with bank customers to receive and pay out money, usually in the form of cash or checks. They also maintain transaction records at a financial institution. With the popularity of ATMs and online banking, the number of tellers is projected to decrease by 8.3 percent from 2016 to 2026. Tellers usually have a high school diploma and receive on-the-job training. As many as 30 percent of bank tellers only work part-time.

3. Waiters and waitresses

Waiters and waitresses have the lowest median age (26.6) on this list as well as the lowest median annual wage ($20,820). Waiters and waitresses take orders and serve food and beverages at restaurants. No formal education is required, and waitstaff learn their responsibilities on the job. The total employment in this area is 2,016,000, the highest number on this list. Notably, this category does not include cafeteria workers, concession stand employees, baristas, or bartenders.

2. Veterinary assistants and laboratory animal caretakers

Veterinary assistants and laboratory animal caretakers work under a veterinarian, laboratory animal technologist, or scientist to provide care to animals. Duties include feeding, watering, and examining pets for signs of illness or injury, as well as administering medication to animals. People in this profession usually work in labs, animal hospitals, and clinics. Unlike vets and scientists, who require an advanced degree, veterinary assistants only require a high school diploma. The projected growth rate is 19.4 percent, and there are currently 61,000 people employed in this position.

1. Bartenders

Bartenders mix and serve drinks to patrons, directly or with the help of waiters and waitresses, and work in establishments such as bars and restaurants. Challenging work environments and late nights make this profession less appealing to older populations, which is in part why sixty percent of bartenders are millennials. With 2.5% projected growth by 2026, the population of 417,000 bartenders in the U.S. is not expected to change much in the coming years. Bartenders do not require any formal education, and many learn on the job or through a short bartending course.

Methodology

The data used in this analysis is from the U.S. Bureau of Labor Statistics 2017 Current Population Survey (CPS) and 2016-2026 Employment Projections (EP).

The most popular jobs for millennials are the occupations with the largest percentage of employees between the ages of 20 and 34. In the event of a tie, the occupation with the lowest median age across all employees is ranked higher. To improve the relevancy of the final results, occupations with fewer than 50,000 total employees were excluded.

Employment numbers are from the CPS; whereas, employment growth projections, median annual wages, and education requirements are from the EP. Median annual wages are for all ages and cover non-farm wage and salary workers; they do not cover the self-employed, owners and partners in unincorporated firms, or household workers. You can find guidance with resume writing for any of these occupations using LiveCareer's free resume builder.

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The Most Popular Jobs for Millennials | LiveCareer

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Millennials, many of whom graduated around the Great Recession (circa 2008), were faced with a challenging time to enter the workforce and begin growing their careers. Faced with fierce job competition and an unemployment rate of 10 percent, many millennials, especially recent college graduates, took part-time jobs or jobs unrelated to their field of study in order to make ends meet.

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Report on millennials career paths, education, job security and their attitude towards their work life in general, in comparison to previous generations.

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Article on the industries which have became much more popular through Gen Y's spending habits, such as travel and fitness, as these are key elements to their lifestyle.

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12 Industries That Will Thrive Thanks To Millennials - CB Insights Research

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Millennials are one of the largest generations in history, and they're on the cusp of their prime spending years. These are the industries that stand to benefit the most. Popular media coverage of millennials often fixates on the industries the generation is allegedly killing and their supposed fiscal irresponsibility.

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How the millennials spending habits have shaped the modern economy, through ways such as renting over purchasing property and online shopping instead of bricks and mortar stores.

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How do you love yourself?

To love yourself is to experience freedom - freedom from doubt, self-hate, and oppression created by you.

To love yourself is to no longer hold yourself back from what you deserve.

To love yourself is to grow and enjoy your life.

Self-love is a necessity if you want to live a truly happy life. Self-love is a choice, a commitment to yourself that you are going to love yourself, despite all the social and biological obstacles in your path. It is not found in a place, person or item.

Can You Love Someone If You Don't Love Yourself?

We hear this a lot - that you can't love someone if you don't love yourself. But that simply isn't true.

You can love someone even if you don't love yourself. To say otherwise would be untrue. You can experience and express love even if you do not love yourself.

What you can't do is expect that person to fill the void in your life that isn't filled with your love for yourself. You can't find that love in anyone or anything.

Self-love is chosen, forged, practiced, and fought. It isn't always easy, but you can never find it in the arms of another person.

What Do You Need to Do to Love Yourself?

1. Choose to Do It

Self-love is a choice; it isn't handed to you. It is not found in someone else or an object.

You achieve self-love by deciding that you want it. After a lifetime of hating yourself for not being enough, you have to choose to let go of this toxic mindset. Choose to say no to all the internal self-hate, and choose to tell yourself the truth that you are not perfect and that is okay.

To start this, give yourself permission to love yourself. You are worthy of being loved, even if you tell yourself you're not. Take a moment to tell yourself this and permit yourself to love yourself.

This is the first step in accepting that you can love yourself and that you are choosing it.

2. Achieve Self Acceptance

You are who you are, and there is nothing wrong with that.

You don't have to be something else to have worth or to be good enough. Who you are right now, is enough.

People may not like you and that is okay because the point of self-love is that it doesn't matter what other people think of you. What only matters is what you think of yourself.

That starts with accepting that you are who you are and having faith that there is nothing wrong with that.

3. Know That Self-Love Is an Endless Journey

As we go through life, we grow, change, learn, and become entirely new different people.

We are all different people from who we were 10 years ago, which means self-love isn't just learning to love yourself once. It is about falling and being in love with yourself as you change and grow.

You don't achieve self-love; you travel with it as you discover who you are.

4. Let Go of the Idea of Perfection

You are never going to be perfect; no human will ever be.

Don't let that stop you from loving yourself. It is easy to hate yourself for not being perfect or enough. But this only creates self-hate because instead of focusing on all that you have, you are focused on all that you are not.

Self-love blooms in a mindset of abundance, which means you have to see all that you have and feel gratitude for it. Self-love struggles, wilts, and dies in a mindset that is rooted in perfection, aka never good enough.

5. Identify the Difference Between Truth And Opinion

Self-love starts by changing the way you think and see yourself. This all starts with our internal narrative and the stories we tell ourselves.

An example of our stories would be:

"I can't do this because I am too (something like clumsy, stupid, weak, etc.)."

These stories come in many forms, such as:

"I cannot have this in my life because (I am not good enough, this is not meant for me, If I was like this, I could get what I want)."

"I am (Insert negative adjective)."

Taking a good hard look at your internal rhetoric can be revealing as to why you have struggled to love yourself.

When you are down on yourself, it is because, at some point in time, someone or something made you feel not good enough. It could have been a comment from a family member, a judgemental magazine article, or a random video you watched.

It made you question your worth, and you took this knowledge and used it to hate yourself.

What I want you to realize is that most of these thoughts aren't facts. They are only our opinions of ourselves, but we treat these opinions as facts - irrefutable facts.

When we tell ourselves we can't do something, we won't be able to. It is a self-fulfilling prophecy that confirms in our brains that our opinions are facts.

When you say I cannot or I can't or this isn't meant for me, you kill 2 things:

1. Hope - you decided you cannot, so there is no reason to try.

2. Growth - you cut off the opportunity to try, fail and grow.

You become stuck in a fixed mindset with no choice but to succumb to your fate as a self-imposed loser. If you want to love yourself, this needs to stop because these aren't facts.

Fact Versus Opinion

Let's break this down to the basics:
A fact is a thing that is known or proven to be true. An opinion is a view or judgment formed about something, which is not necessarily based on fact or knowledge. For example: It is a fact that an orange has a peel.
It is an opinion that the orange is round and therefore unattractive.

Let me translate.
It is a fact that you have fat on your body It is an opinion that having that fat makes you an unworthy person. Example 2:
" I cannot apply for this new job, because I am not qualified "

Let's deconstruct, there is one fact in this sentence and that is I am not qualified. This is just a fact, you are not qualified for a position, you have then placed an opinion upon it.
I cannot apply.
I cannot = I am not good enough.

Your worth isn't dependant on your qualifications. Factually, you can apply for this position even if you are not qualified.

We give power to facts, and we can decide if it's positive or negative, self-destructive or empowering. It is time to let go of these opinions and change them.

Instead of "I cannot apply for this job, I am not qualified", make it "I can apply for this job, although I am not qualified for it, I can always try! I will always learn something and that is always fun".

6. Learn That Failure Is Your Friend

When we fail, we use that as an excuse to hate ourselves for not being good enough. But you have it all wrong.

Failure is growth. Instead of focusing on how you aren't good enough, focus on what you learned.

How did you grow? How can you apply this knowledge in the future? The faster you fail, the faster you grow!

Don't let failure be the reason you hate yourself. Choose to love it and laugh at yourself when you fail. Laugh, get back up, think about how you can grow from this, and move forward.

You are going to fail a lot in your life, so you might as well have it on your side and when you do. It will grow and foster self-love.

7. Learn How to Not Take Things Personally

The thing about life is that it isn't all about you.

We are bombarded with negativity, and most of the time, we find ways to be offended as well, even unconsciously. This is biology at work, but now it's time to let go of this defense mechanism.

To stop taking things very personally:

Know that the comments that hurt you aren't about you at all. See it from the other person's perspective. 50% of the time, it isn't even about it. It can be redirected aggression or maybe you just happen to be the one in that situation.

It may be about you, and you need to show yourself some empathy. Be vulnerable and kind to yourself, and talk in a non-judgemental way to the person who offended you.

By not taking things personally, you stop torturing yourself and therefore, you love yourself more.

Not every negative thing is about you. The world is bigger than just you.

Final Thoughts

If you want to learn how to love yourself, the most important thing you have to do is commit to learning all about it.

Like life, you will grow and change by continuously learning new ways to love yourself and express who you really are, and you will be happy.

For more information on how to love yourself, here is another article with more detailed instructions: Learning To Love Yourself.

And always remember: you are worth loving.

More Self-Love Tips

Featured photo credit: Jakob Owens via unsplash.com

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Millennials and Their Spending Habits: How It's Shaping the World

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How do you love yourself? To love yourself is to experience freedom - freedom from doubt, self-hate, and oppression created by you. To love yourself is to no longer hold yourself back from what you deserve. To love yourself is to grow and enjoy your life.

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Article discussing the impact e-commerce has had on Gen Y and how this is their favourable medium of purchase.

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How Each Generation Shops in 2020 - Salesfloor

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Shopping habits of different generations.

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Statistics regarding their spending habits and brand perception. It also discusses the increase in debt amongst this generation due to the increased targeting of their market to make unnecessary / expensive purchases on the regular.

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Forbes article about the how they consider social and environmental responsibility when making a purchase.
As well as this the article discusses which sectors they spend most of their money on and also areas which they do not in comparison to Gen X, simply because of technology development.

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They are poised to be the nation's biggest spenders, as they move into their prime earning and spending years, so millennials dominate conversations around product strategy, marketing, and the economy at large. This generation is different, and so brands must see and interact with them as a unique consumer in order to draw their attention and business. Let's take a look at Millennial spending habits and why they buy.

Who are they?

Millennials defined:

They were roughly born between 1982 and 1996, so they're around 22 - 36 years old.

There are 83.1 million millennials in the United States, making them the largest generation in the country's history.

The majority of these young people have less than $1,000 in their savings accounts, and a significant number have no savings at all. They have less credit card debt and car purchases than previous generations, most likely because lenders have tightened the requirements for granting credit and loans. More than 65% of millennials don't have a credit card at all.

How do they make purchase decisions?

Millennials consider social responsibility and environmental friendliness when considering their purchases, so brands face Millennials' significant expectations in terms of shopping and investment dollars. They typically choose to either follow their own instincts or go along with their peers but have become rather wary of financial advice given by parents and professionals in the field. They also prefer personal connections with those who manage their money, who reflect their highly held values of trust, authenticity, and choice.

When shopping, Millennials focus on discounts. They value price over recommendations, the brand's reputation, and even product quality. They follow brands online just for discount opportunities. 66% of millennials would switch brands if offered at least a 30% discount, and only a third see a brand to consider trends or product updates.

Ironically, 60% of millennials state loyalty to brands they currently purchase from if treated well through customer-centric experience. To ensure allegiance, companies include loyalty programs with custom discounts as well as active courtship.

Other values that brands should center upon are authenticity, local sourcing, ethical production, a great shopping experience, and giving back to society. 75% of Millennials consider it fairly or very important that brands give back to society instead of just making a profit.

Where do they spend?

Millennials spend more on comforts and conveniences:

60% of millennials spend more than $4 on a single coffee

70% of millennials will spend a little extra to eat at the hip restaurants in town

69% of millennials buy clothes for reasons beyond basic necessity

Over 50% of millennials spend money on taxis and Ubers while only 29% of Gen X and 15% of Boomers do the same

Millennials spend more per year on:

Groceries

Gas

Restaurants

Their cellphone as nearly all own a smartphone and comprise the highest usage as well

Hobbies, electronics, and clothing

At the same time, millennials spend less than older generations on:

Television-as streaming services have come online, cable is becoming a service of the past

Travel, because they're unable to afford regular vacations and struggle to save for them

Pharmacies

Furniture/building materials

Conclusion

With this being the new financial powerhouse generation, it's important to learn what motivates the purchases and investing of Millennials and to change up marketing to meet their expectations.

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Author Post: Millennial Spending Habits and Why They Buy

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They are poised to be the nation's biggest spenders, as they move into their prime earning and spending years, so millennials dominate conversations around product strategy, marketing, and the economy at large. This generation is different, and so brands must see and interact with them as a unique consumer in order to draw their attention and business.

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Website with a link to a report regarding their consumer behaviour and spending habits. It also shows a variety of conducted research and surveys which show statistics compared with that of other generations regarding technology and its influence on their consumer behaviour.
Also, the report shows the attributes of the millennials in all aspects of their lifestyle as well, to show the difference between them and previous generations.

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Decoding Generation Y: A new era of consumer behavior

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This study sheds new light on millennials – and helps companies and brands to better understand Generation Y.

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NYTimes article on the demand for younger talent within the fashion industry, especially within the luxury market.

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A generational shift is happening in the corridors of power. What does it mean?

Clockwise from top left: Daniel Roseberry, Grace Wales Bonner, Olivier Rousteing, Brandon Maxwell, Daniel Lee; Lisi Herrebrugh and Rushemy Botter; and Bruno Sailelli. Credit... Clockwise from top left: Francois Guillot/Agence France-Presse-Getty Images; Andrew Testa for The New York Times; Charles Platiau/Reuters; Pool photo by Smiley N.; Andreas Solaro/Agence France-Presse-Getty Images; Stefan Knauer/Getty Images for MBFW; Julien Mignot for The New York Times

In the fall of 2018, Jean-Philippe Hecquet, the newly installed chief executive of Lanvin, was looking for a designer to save the oldest French fashion house in continuous existence. The stakes were high. The brand's collections had been critically savaged since parting ways with Alber Elbaz, its former creative director, in 2015.

It had quickly run through two other creative directors without success, and sales were plummeting. The house had a new owner, the Chinese group Fosun International, and it wanted a turnaround before Lanvin drifted off to the land of irrelevance. So what did Mr. Hecquet do?

Cherchez the millennial.

He hired Bruno Sialelli, age 31. Mr. Hecquet made a big bet on a very young, unproven name. And in doing so, he became the latest in a growing group of established brands to hand the keys to the creative kingdom to a new generation of designers.

"They always want younger, younger younger," one headhunter in Paris said of the fashion executives for whom he worked. (The New York Times agreed to grant him anonymity because of the sensitivity of the subject.) "We have put forth talent in their mid-50s who were exceptional, and they were summarily rejected."

Gen Yers don't necessarily make different clothes - or not dramatically different clothes. They aren't the so-called street wear generation (Gen X is actually behind a lot of that - at least the commercial exploitation of it) or the gender-fluid generation. But they do think about how those clothes reach the end user in different ways, and they do talk about them differently, and see their roles differently.

In addition, as Achim Berg, the head of McKinsey & Company's apparel, fashion and luxury group, noted, "younger designers are closer to the consumer." This may seem obvious, but given the potential pitfalls involved in opting for an unknown, it's also risky.

That is why big brands like Dior and Givenchy often stick to big names like Maria Grazia Chiuri and Clare Waight Keller, both of whom are Gen X designers and had proven track records at the top of other brands (Ms. Chiuri at Valentino and Ms. Keller at Chloé).

This is even more crucial when it comes to China, which despite trade wars and political tension, is for many brands still the promised land of future growth, and where millennials are the highest-spending age group. According to McKinsey's 2019 China Luxury Report, the approximately 10.2 million Chinese millennial luxury consumers are the "driving force of the country's luxury appetite," accounting for more than half the total spending on luxury in 2018 - which is to say, more than half of the $115 billion (770 billion RMB) spent at home and abroad.

By 2025, Chinese consumers are expected to account for 40 percent of worldwide luxury spending.In the United States, millennials accounted for approximately $200 billion in consumer spending in 2018, according to McKinsey. Ka-ching.

Combined with fashion's own desire for change and freshness, be it in garments, retail strategy or actual employees, this has created an environment increasingly receptive to the idea of looking past the usual names - those that have been, for the last few years, on the short list for every job that opened up at a big brand.

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Millennials Are Taking Over Fashion, Too

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A generational shift is happening in the corridors of power. What does it mean? In the fall of 2018, Jean-Philippe Hecquet, the newly installed chief executive of Lanvin, was looking for a designer to save the oldest French fashion house in continuous existence. The stakes were high.

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Article about the Generation Y attributes and stereotypes they are associated with.

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Teenagers, twenty- and thirty-somethings have been dubbed the Millennial Generation, or simply Millennials. But what does it mean? And how old is too old to be a Millennial?

Generation Y Definition

The term Millennials generally refers to the generation of people born between the early 1980s and 1990s, according to the Merriam-Webster Dictionary. Some people also include children born in the early 2000s.

The Millennial Generation is also known as Generation Y, because it comes after Generation X - those people between the early 1960s and the 1980s. The publication Ad Age was one of the first to coin the term "Generation Y," in an editorial in August 1993. But the term didn't age well, and "Millennials" has largely overtaken it. But the terms basically mean the same thing.

Millennials characteristics

Millennials have been characterized in a number of different ways. On the negative side, they've been described as lazy, narcissistic and prone to jump from job to job. The 2008 book "Trophy Kids" by Ron Alsop discusses how many young people have been rewarded for minimal accomplishments (such as mere participation) in competitive sports, and have unrealistic expectations of working life.

A story in Time magazine said polls show that Millennials "want flexible work schedules, more 'me time' on the job, and nearly nonstop feedback and career advice from managers." Another Time story in May 2013, titled "The Me Me Me Generation," begins: "They're narcissistic. They're lazy. They're coddled. They're even a bit delusional. Those aren't just unfounded negative stereotypes about 80 million Americans born roughly between 1980 and 2000. They're backed up by a decade of sociological research." The article also points out that Millennials may be simply adapting quickly to a world undergoing rapid technological change.

A 2012 study found Millennials to be "more civically and politically disengaged, more focused on materialistic values, and less concerned about helping the larger community than were GenX (born 1962-1981) and Baby Boomers (born 1946 to about 1961) at the same ages," according to USA Today. "The trend is more of an emphasis on extrinsic values such as money, fame, and image, and less emphasis on intrinsic values such as self-acceptance, group affiliation and community." The study was based on an analysis of two large databases of 9 million high school seniors or entering college students.

They have also been described in positive ways. They are generally regarded as being more open-minded, and more supportive of gay rights and equal rights for minorities. Other positives adjectives to describe them include confident, self-expressive, liberal, upbeat and receptive to new ideas and ways of living.

Though viewed as more liberal, some Millennials are bucking the trend. A study published March 31, 2017 by the Council on Contemporary Families found that high school seniors increasingly believe that the man should be the bread-winner in a relationship and a woman should care for the home. "It's been a steady reversal," said study co-author Joanna Pepin, a doctoral candidate in sociology at the University of Maryland.

In addition, it seems that this generation may be having less sex that any other generation before it. In a survey of more than 26,000 American adults, about 15 percent of Millennials between 20 and 24 reported having no sexual partners since the age of 18. Only 6 percent of GenXers (people born in the 1960s) could claim the same. The Youth Risk Behavior Survey by the Centers for Disease Control and Prevention in 2016 also found that teen Millennials were less sexually active that previous generations.

Millennials are also more likely to use public libraries than other generations, according to the Pew Research Center.

Generation Me

There is a spirited, if not tiresome, debate about whether Millennials are self-entitled narcissists or open-minded do-gooders; surely the truth lies somewhere in-between. Generally, however, there does seem to be more of an emphasis on the self than in previous generations, one reason why this group has been called Generation Me. Research presented at the 2016 annual meeting of the Society for Personality and Social Psychology (SPSP) in San Diego found that Millennials themselves do believe that they are more narcissistic that previous generations, but they don't like it. Also, the uptick in narcissism is only very slight when compared with other generations.

"We're not talking about two generations ago, people were just completely selfless, and in this generation we're trying to kill each other to watch the next season of something on Netflix," Joshua Grubbs, a doctoral candidate at Case Western Reserve University in Ohio. [ Millennials See Themselves As Narcissistic, Too (And It Bothers Them)]

The self-centered life approach may be due to the rise of individualism in society. "There is a very consistent and reliable trend where all indicators of individualism [have] been on the rise over the course of the last 100 years," Igor Grossman, a psychologist at the University of Waterloo, told an audience at the SPSP meeting.

Other scholars have pointed out that the attempt to make generalizations about an entire generation is a futile effort. Further, some have suggested that discussion of "Millennials" tends to focus on mostly white youth from suburban areas, ignoring the unique experience of immigrants and minorities.
Additional reporting by Alina Bradford, Live Science contributor. Additional resources

Douglas Main loves the weird and wonderful world of science, digging into amazing Planet Earth discoveries and wacky animal findings (from marsupials mating themselves to death to zombie worms to tear-drinking butterflies) for Live Science. Follow Doug on Google+.

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Teenagers, twenty- and thirty-somethings have been dubbed the Millennial Generation, or simply Millennials. But what does it mean? And how old is too old to be a Millennial? The term Millennials generally refers to the generation of people born between the early 1980s and 1990s, according to the Merriam-Webster Dictionary.

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Another article analysing the reasons why Gen Y is sometimes frowned upon and portrayed negatively within the media.

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Who are they?

Millennials are currently aged 20-35, or born between 1980 and the end of 1994 (with some more generous definitions taking in those born up to 2000). They also get called Generation Y, because they follow on from Generation X (born 1965-1979), and other, less flattering names.

What do others think of them?

Type "Generation Y are" into your search bar and Google suggests the following ends to your query: "generation y are lazy", "idiots" and "unhappy".

Millennials on their critics: 'I'm offended' - video Guardian

Though to be fair Google autocompletes a search on baby boomers (born 1946-1964) in similarly unflattering ways, offering: "baby boomers are to blame", "selfish", "the worst generation" and "entitled". Gen X fare better.

Millennials are accused of being lazy, self-involved, cosseted, politically apathetic narcissists, who aren't able to function without a smartphone and who live in a state of perpetual adolescence, incapable of commitment.

One commentator has called them "Generation Y-ny [whiny]", another common epithet is Generation Me, though Time magazine didn't think this quite captured the self-obsession of the generation and beefed it up to Generation Me, Me, Me as the headline of their feature on them.

By other accounts, they are a generation marked by creativity, flexibility, open-mindedness, a strong sense of social responsibility and concern for the environment. But that makes for less interesting headlines.

What do they think of themselves?

Perhaps because they are such a maligned bunch, millennials tend to have a much more negative self-image than other generations do. "Self absorbed" was how 59% of millennials described their own generation and 49% said they were "wasteful", compared with about 30% of Gen X-ers and 20% of baby boomers who were willing to ascribe these terms to their generation.

So pervasive is their negative view of themselves that many in Generation Y don't want to be identified as such. Nearly two-thirds don't consider themselves to belong to that generation, though this might partly be because of a confusion of categories, with 33% not realising they were millennials and believing instead that they belonged to Generation X.

What are their issues?

Spanning 15 years, different social classes, cultures and continents, it is ridiculous to imagine that millennials have a unified identity. In the UK, there are 13.8 million millennials, and a 20-year-old in Ipswich is no doubt facing vastly different issues to a 35-year-old in Glasgow, and that's without even looking beyond the borders of the UK.

As one Guardian reader wrote to us when asked to describe the main issues facing Gen Y in his country: "You want me to sum up the main issues facing an entire generation in an entire country? That sounds less scientific than a fucking horoscope, you mad bastards." Fair point.

But there are broader economic and political issues that have unified the generation in some ways. Many have graduated into a severe economic recession, they were the guinea pigs of extraordinary technological change, and have spent their formative years living under the pall of terrorism.

Readers also wrote to tell us about the lack of opportunities in Mexico, socio-political turmoil in Romania, political disenfranchisement in the Philippines and unemployment levels in Spain, so high that millennials feel lucky to have a job earning as little as €600 (£465) a month. In the US they are crippled by debt and stagnant wages, in the UK they have been hit with high house prices, which have locked them out of home ownership and into extortionate, dismal rental arrangements.

Throughout the Gen Y series we will be hearing some of these stories, about the issues millennials face, as well as examining exclusive data which tells us some things about this generation and how it compares to those that came before. The key finding? They are not doing well. They are, as Guardian journalist Shiv Malik wrote, the Jilted Generation, who are set to be the first generation to do worse than its parents as far back as data goes.

Gen Y becoming parents

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Generation Y: a guide to a much-maligned demographic

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Tech-savvy? Narcissistic? Open-minded? What does being a millennial really mean?

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Clear comparison chart of the main four generations. Sets out the attributes and preferences throughout every aspect of their lifestyle - strong emphasis on the impact of technology on their lifestyles.

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Article comparing the attributes of Gen Z and X with those of Y and the reason for these differences

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The French girl and German man who posed for Robert Capa could not have known that they were going to be considered part of Generation X, the title the photographer gave to that work, in which he wanted to capture what life was like for the young people who grew up after the Second World War (1939-1945).

Generation X includes those born between 1965 and 1981, during the reconstruction of Europe after the war. Their life has not been easy, since, after a period of upheaval, finding a job was a great challenge. To work and produce was their philosophy of life, leaving no room for idealism. Individualism, ambition and an addiction to work - or being a workaholic - are the values with which they grew up.

The parents of this generation had the worst part: they lived through the postwar period. They are the Baby boomers - born between 1945 and 1964 - and they are called this because they were born during the baby boom, the period in which the birth rate shot up in a number of Anglo-Saxon countries, above all the United States, Canada and New Zealand, after the end of the Second World War.

This generation was to be envied as they experienced all that young people would have wanted to at that time. They saw how John Lennon, Paul McCartney, George Harrison and Ringo Starr came together to form The Beatles in 1962. They also experienced the landing of a man on the Moon (1969), the soccer players Pelé and Maradona at their best and the fall of the Berlin Wall on 9 November 1989.

They went through the entire period of technological evolution and the rise and development of the media, as well as enjoying stability in terms of both work and family and being active both physically and mentally. In spite of having adapted to a world ver. 4.0, they are less dependent on smartphones than the next generations.

GENERATION Y OR THE MILLENNIALS: DIGITAL NATIVES

The revolution was shaped by the millennials or generation Y. Also known as digital natives, millennials are those born between 1982 and 1994 and technology is part of their everyday lives: all their activities are mediated by a screen. The concept of on and off is completely integrated into their lives. However, they were not born into it; they migrated to the digital world from the analogue one in which they were living.

Unlike previous generations, because of the economic crisis, the world requires them to be better trained to get a job, as competition is increasing. Unlike their parents, Generation X, digital natives are not satisfied with the world around them and are ambitious and want to achieve their goals.

However, the millennial generation is labelled as being lazy, narcissistic and spoilt. In fact, in 2014, Time magazine labelled them as the me-me-me generation.

CHARACTERISTICS OF THE Z OR CENTENNIAL GENERATION

Aged between eight and 23 years old, generation Z or the post-millennial generation will take the lead in a few decades. Also labelled as centennials, for having been born into the world at the turn of the century - the oldest were born in 1995 and the youngest in 2010 - they arrived with a tablet and a smartphone under their arms.

But what is Generation Z? It is a group of people that is marked by the Internet. It is part of their DNA: it storms into their homes, their education and their way of socializing. And if Generation Y has difficulty finding a job, the situation for post-millennials is even worse.

Their mastery of technologies may make them neglect their interpersonal relationships to a greater extent, but they are the ones who give more of a voice to social causes on the Internet. They like to get everything they want immediately, a fact fostered by the digital world in which they are immersed, and their lifestyle is also influenced by youtubers.

They multi-task, but their attention span is limited. They are independent and demanding consumers and will have jobs that do not exist in today's world.

Despite today's social diversity, generations Y and Z predominate. According to the study New Kids On The Block. Millennials & Centennials Primer by Bank of America Merrill Lynch, today there are 2 billion millennials and 2.4 billion centennials, representing 27% and 32% of the world population, respectively.

As for the current generation, those born after 2010, they have been termed the Alpha generation. What will their behaviour be like? In a couple of years, we will see if we notice the generation gap!

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The French girl and German man who posed for Robert Capa could not have known that they were going to be considered part of Generation X, the title the photographer gave to that work, in which he wanted to capture what life was like for the young people who grew up after the Second World War (1939-1945).

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Article explaining the main characteristics of the Gen Y and the reasons for the large distinction between them and their descendants. How technology has affected their lifestyles.

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Millennials, or members of Generation Y (also known as Gen Y) were born between 1982 and 2000, according to the U.S. Census Bureau. The Census Bureau estimates that there are 83.1 million millennials in the U.S., and the Pew Research Center found that millennials surpassed baby boomers (boomers) to become the largest living generation in the United States in 2016.

Millennials are separated from the older generation before them (Generation X) and the generation that followed them (Generation Z).

Millennial Characteristics

As expected by their birth years, the Millennial generation makes up the fastest growing segment of the workforce. As companies compete for available talent, employers simply cannot ignore the needs, desires, and attitudes of this vast generation. As with each generation that preceded it, Millennials have come to be defined by a set of characteristics formed mainly by the world and culture they grew up in. Here are a few of their common characteristics.

Millennials are Tech-Savvy

Generation Y grew up with technology, and they rely on it to perform their jobs better. Armed with smartphones, laptops, and other gadgets, this generation is plugged in 24/7. They like to communicate through email, text messaging, and whatever new social media platform (i.e., Twitter, Instagram) friends and colleagues are using. This is a generation that can't even imagine a world without the internet or cell phones.

Millennials Are Family-Centric

The fast-track lifestyle has lost much of its appeal for millennials. The members of this generation are willing to trade high pay for fewer billable hours, flexible schedules, and a better work/life balance. Although older generations may view this attitude as narcissistic or see it as a lack of commitment, discipline, and drive, Millennials have a different idea of workplace expectations. Millennials usually prioritize family over work, and even those who aren't married with children feel the need to be a part of a family and spend time with nieces, nephews, and siblings.

Millennials Are Achievement-Oriented

Nurtured and pampered by parents who didn't want to make the mistakes of the previous generation, millennials are confident, ambitious, and achievement-oriented. They also have high expectations of their employers, tend to seek new challenges at work, and aren't afraid to question authority. Generation Y wants meaningful work and a solid learning curve.

Millennials are Team-Oriented

While growing up, most Millennial boys and girls participated in team sports, playgroups, and other group activities, whether it was soccer or ballet. They value teamwork and seek the input and affirmation of others. Millennials are the true no-person-left-behind generation, loyal and committed. They want to be included and involved.

Generation Y Craves Attention

Generation Y craves feedback and guidance. They appreciate being kept in the loop and often need frequent praise and reassurance. Millennials may benefit greatly from mentors who can help guide and develop their talents. This is where the boomers come in handy because (though mostly retired), they have something to offer and see mentoring millennials is one way they can continue to contribute to the workforce.

Generation Y Is Prone to Job-Hopping

A potential downside of Generation Y workers is that they're always looking for something new and better. It's not uncommon for a millennial to stay with a firm for only two or three years before moving on to a position they think is better. The resumes you receive from millennial job seekers will undoubtedly demonstrate this peppered job history.

Don't discount members of this generation just because they've worked for several firms-these young employees bring with them a variety of experiences. Unlike previous generations, they do not take a job and then hold onto it for as long as humanly possible. Instead, they go out and create a new app or fund a trendy start-up.

The Bottom Line About Millennials

Generation Y possesses many characteristics that are unique in comparison to past generations. They tend to be excited about their jobs, and they will work hard and efficiently. They might approach their superiors as equals more so than previous generations, but companies can take steps to draw a line between supervisor and friend. When that line is drawn, millennials will not only work tirelessly for you, but they will show you the respect due to a supervisor with many years experience.

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Learn About the Common Characteristics of Millenial Professionals

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Millennials, or members of Generation Y (also known as Gen Y) were born between 1982 and 2000, according to the U.S. Census Bureau. The Census Bureau estimates that there are 83.1 million millennials in the U.S., and the Pew Research Center found that millennials surpassed baby boomers (boomers) to become the largest living generation in the United States in 2016.