Your Trend Guide to Prom This Year

Prom season is upon us, and Millennials in high school are prepping for the big night in their own ways. While exploring current prom trends, we fielded data that supports big departures from trends of generations past, even those of older Millennials. Here are the biggest prom trends we’re seeing surface this year and why these shifts are happening:
 
The Dress Stress 

21% of females rated choosing what to wear as the most important part of prom, putting a lot of pressure on prom shopping. 54% of females have already started shopping for their prom attire (note that it’s mid-April) versus 30% of males who will be waiting until 2-3 weeks before the date to secure their suit or tux. The majority of females (35%) plan to shop at department stores for their selection, while 21% are turning to online stores for the best chance of finding deals for their tight budgets.

Showing up in the same dress as a classmate could be considered “social suicide” so internet savvy Millennials are safeguarding against this potential disaster by creating private, school specific Facebook groups to post pictures of the dresses they’ve chosen. High school Prom Dress Registry groups have been multiplying year by year to ensure that girls are safe from dress duplication before they buy. Members (which can be the entire female population of the school) often post to the group with dressing room selfies, and updates if they change their look or want to sell a dress. One might expect that a group with competition for dresses could become catty, but posts are almost unanimously positive, praising each other on how amazing they look in their dresses, regardless of whether they are boutique, store bought, or a hand-me-down.
 
The More the Merrier

63% of Millennials would prefer go to prom with a…

 
 

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Millennial News Feed

Quote of the Day: “I consider luxury items as something that is nice to have, but that I can also live without.”—Female, 23, FL

How has the recession made Millennials reject capitalism? According to a Harvard University survey, 51% of 18-29-year-olds say they do not support capitalism, but it may be that young voters are essentially frustrated by the “flaws of free markets.” When asked about socialism, only 33% said they were in support of the alternative system, making the analysis of the data complex. It is also unclear how the Millennials surveyed define capitalism, since the meaning has shifted throughout the years. According to one pollster, the term once meant freedom from totalitarian regimes, but is now blamed for the financial crisis. (Washington Post

Financial technology startups are narrowing their focus to keep Silicon Valley interested. It is no longer enough for a young company to disrupt the financial industry, they need to think niche to stand out from the competition. Financial start-up Pave targets consumers with a lack of credit history, like college students. Promise Financial provides loans specifically for weddings (which 74% of 18-33-year-olds say have become too expensive), and has partnered with over 100 wedding venues and vendors to offer loans when major purchases are being made. (Wall Street Journal

Luxury brands are looking towards the future by focusing in on Millennials. The generation has the potential to be the largest spending group in history, and by 2020 the oldest Millennials will be entering their peak earning years. To prepare, luxury brands are shifting to cater to the generation who values “über-luxe” travel over costly jewelry, shoes, and bags. Brands are turning to new influencers—from the Instagram-famous to video game characters— to form relationships with Millennials before they become the core luxury demographic. (WWD

GE has created an unexpected product to attract Millennial engineers: hot sauce. In partnership with thrillist and High River Sauces, the company has introduced the limited edition 10^32 Kelvin—named after the temperature that “scientists believe all matter ceases to exist.” The sauce combines the two hottest peppers in the world, and is made to get the attention of young applicants who may be more inclined to work for a “trendier” company. There is no doubt that hot sauce is a major trend: one market research firm predicts that by 2020 popular sauces will earn $632 million in new sales. (Fox News

An exclusive club called Magnises is “targeting Millennials and brands, wallets and insecurities.” We first told you about Magnises as a start-up targeting high earning Millennials, and since then it has branched out as a community-focused platform joining the ranks of WeLive and Soho House. Playing off Millennials’ struggle to form connections, the company wants to bring “the benefits of an online social network immediacy, convenience, interactivity—into the real world,” through member-only and sponsored events. They are expecting $5 million in revenue this year, with the  majority coming from brands. (Racked

Quote of the Day: “When shopping for a home, my must-have is an in-law suite.”—Male, 23, DE

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