Marketing Towards Millennials

When looking into many concepts such as fashion, health, education, lifestyle, family and many more we love to compare the Baby Boomers to the Millennials. For many reasons, one being the vast difference in  lifestyle and values.  The Millennials have now outnumbered the Baby Boomers, which now means they are the largest American generation. For that reason both generations are easily comparable in statistics and factual information. In the fashion industry when looking at consumer behaviours, Millennials are different in the way they purchase compared to past generations, more specifically Baby Boomers.

Firstly, one of the most dramatic changes in the fashion industry is the interest in fast fashion and lack of for brands and luxury items. Where big companies such as the Bay and Sears hold many brands, the decrease in interest when looking at millennials is remarkably high.  Most of the millennial consumers will look for the style that many influencers were seen in or a specific accessory that is hot and trending based off of celebrities. On that note the preference to shop online is remarkably higher for this generation than any other.

Secondly, as briefly introduced, the online market is a huge game changer for marketing towards the millennials specifically because it is not even a question whether your brand and or store has a good online presence. To be able to purchase online increases the competitor’s presence to have the best price for the product, the consumer is looking for. In addition, social media has a huge impact on the brand and or store’s image. The reasoning being if it’s in the loop for trends and having what the targeted consumer needs and wants they will more likely have a good reputation when looking into the Millennial generation. Finally, Millennials being more educated than any previous generation, they are more socially conscious when making a purchase. In essence  companies must be more and more transparent on their ethics when looking into the fabrication of the garment and the labor conditions. On top of this factor, it is easier than ever to be able to find information on a company or brand on their wrong doing because of all the information available to the public. This impacted many companies who were already socially responsible when looking into labor conditions and much more, which let them grow in popularity and have the possibility to compete towards big fast fashion companies whom’s ethics are questionable.

In essence, marketing towards a different type of generation can be difficult, however it must be done. When comparing the difference between Millennials and Baby-Boomers from a marketing aspect or point of view, one is not more challenging than the other, but rather different in their own ways.