To reveal how loyal to fashion brands 18-25 year-old Americans are, two LIM College professors Robert Conrad and Kenneth M. Kambara, Ph.D, have conducted a survey among their 275 master’s-level students.
Interestingly, almost a half (45%) expect to switch their favorite fashion labels within two years for something new, more innovative in nature, or/and engaged in social causes and philanthropy.
Asking why the respondents changed or expected to change their fashion brands of choice recently, the top responses were:
- 64% — availability of desirable alternatives;
- 66% — the brand no longer fit their personality;
- 66% — a simple desire for a change in style;
- 64% — the brand was no longer unique.
When asked about the benefits that could potentially attract them in new fashion brands, the surveyed named, among others:
- 80% — innovative nature of brands, their ability to develop new products and services;
- 74% — improved design that better reflects uniqueness;
- 67% — improved product quality;
- 63% — engagement of a brand in causes that resonate with my values/beliefs;
- 54% — limited distribution to ensure exclusivity.
Dr. Kambara commented on the the results of their shopping trends survey, conducted in March 2015:
“Retailers have become consumed with the customer experience from a supply chain perspective. There is very little happening to drive impulse purchases. There is virtually no new product innovation, with what little innovation there is coming from tech products or from the mode of delivery of fashion content. It’s up to brand managers and retailers need to fuel desire. Interestingly, a brand not being seen as ‘cool’ wasn’t a major factor in abandonment.”
However, these findings may not be true for all Millenials. For example, the latest study GfK MRI’s Survey of the American Consumer finds that different age groups (20-24 versus 25-34) within the Millenial category have different preferences and motivation when it comes to fashion shopping. How differently they choose, express opinions and spend, please read on Retail Touchpoints blog here.