The ‘90s May Have Saved Urban Outfitters: The Friday Don’t Miss List

The ‘90s are still all that (and Urban Outfitters is happy about it), the latest tech is now for rent, gamifying financial responsibility for Millennials, and more news to know about young consumers…

1.The ‘90s May Have Saved Urban Outfitters  

In 2014, we asked Millennials which decade had the best culture, from music and movies, to clothing and cars, 46% of 13-32-year-olds, and 50% of 18-32-year-olds, said the ‘90s. Years later, the ‘90s revival is still going strong—if you need proof, just check out a Millennial or teen’s closet. Don’t miss how Urban Outfitters may have gotten themselves back on track by cashing in on the nostalgia trend. After years of decreasing sales, the retailer has experienced a 5% spike on the heels of their “'90s-tinged collaborations” with classics like Calvin Klein, Adidas Originals, Fila, and Wrangler. Targeting 18-28-year-olds, their new strategy is “offering customers product[s] he or she can’t get anywhere but Urban Outfitters," and teaming up with brands that “get” their young (nostalgia obsessed) consumers.

2. Tech For Rent

Millennials’ Less is More mentality is driving the growth of rental services that offer everything from furniture to clothing. Don’t miss how the trend is even pushing into the tech sector. Grover is a startup renting out smartphones, laptops, wearables, and more for a monthly fee, telling customers to “Buy Less. Experience More.” The tech rental service offers 13 categories of products, including devices that have only recently hit the market. (Think smartwatches and VR headgear.)

 

3. Credit Scores Get Gamified

Millennials are not the most financially secure generation, and their aversion to financial advisors isn’t helping matters. New research on marketing financial services to Millennials has found that the industry…

 
 

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Quote of the Day: “My biggest mistake was that in my financial beginnings I did not seek help from an advisor and I did very badly with my investments, but later I was able to recover.”—Male, 33, NY

The Museum of Ice Cream and Sephora are coming together for a sweet collab. Popsicle-shaped lip glosses, sprinkle-filled brushes, and more Instagrammable products are available for a limited time. Collaborations seem to be the MOIC’s latest move to rake in revenue (they also teamed up with Target), and this one makes sense: young consumers are indulging their “treat yo self” moments with makeup, and similar products like Too Faced’s peach and chocolate-themed collections are flying off shelves. (Cosmopolitan)

Sony is debuting their own ode to retro gaming: the PlayStation Classic. Millennial geeks everywhere, rejoice. The tiny console (with mini controllers to match) will include 20 fan favorite games like Final Fantasy VII and Tekken 3. The question isn’t why Sony is doing this, it’s why more companies aren’t doing this after seeing Nintendo’s runaway success with the SNES and NES Classic. Consoles will come to shelves in early December, right in time for the holidays. (TechCrunch)

The next Netflix movie could premiere on IMAX. And It’s not just Netflix: IMAX’s CEO said “all of the streaming” giants are “in active discussions” to bring their movies to the big screen. Streaming services have shaken up Hollywood by premiering big-budget movies with A-list actors on small screens, betting that young viewers prefer their couches to theaters. But while staying in is the new going out for many Millennials, their love of experiences is also bringing back the box office. (THRThe Verge)

Some wealthy Millennials are becoming social justice warriors to make an impact with their extra resources. Members of Resource Generation give 16 times more than they did before joining up, and together they’ve raised $120,000 for an affordable housing organization, donated $135,000 to the Social Justice Fund Northwest, and much more. In our Topline on the topic, 88% of 13-35-year-olds said they think they can make a difference by getting involved. (Business Insider)

Chinese Millennials and Gen Z are turning their attention from livestreaming to short video clips. Douyin, a short video app known as TikTok in the U.S., has over 500 million monthly active users globally. It was even the world’s most-downloaded app for the first half of 2018, according to Sensor Tower, and its rival Kuaishou is racking up users too. Meanwhile, users and stock are dropping for livestreaming platforms—with the exception of esports. (CNBC)

Quote of the Day: “I once spent $30,000 in one year solely on fun things (entertainment, traveling, dining out, etc.).”—Female, 21, PA

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