- Nov 12 2019
As secondhand marketplaces like Thredup and Depop win over Gen Z and Millennial shoppers, big brands are finding ways to tap into the trend…
- Oct 31 2019
Secondhand clothing apps could disrupt children’s clothing sales, thanks to Millennial parents.
Secondhand clothing apps could disrupt children’s clothing sales, thanks to Millennial parents. Companies like The RealReal have seen “substantial growth” in the kids’ clothing resale market, and startups like Kidizen are creating resale communities for eco and budget conscious young families. ThredUp reports that Gen Z and Millennials have adopted secondhand shopping “2.5 times faster than other generations,” and expect the trend will continue as they start buying clothing for their own children. (Sourcing Journal)
- Oct 16 2019
Wine country has a Millennial problem.
Wine country has a Millennial problem. According to Silicon Valley Bank’s wine industry report, Millennials make up just 17% of the fine wine market, and their wine budget is on average $8-$12 a bottle. That doesn’t align well with the more expensive varieties available in Napa. The region also has to compete with a larger group of beverage competitors, including craft beers and, yes, hard seltzers. But we should note that while they might not be drinking fine wines, YPulse has found they like other wines just fine. (SF Chronicle)
- Oct 10 2019
Gen Z and Millennials are planning to pay less for their engagement rings.
Gen Z and Millennials are planning to pay less for their engagement rings. According to TD Amitrade, 15-28-year-olds believe that a ring should cost less than $2,500—which is less than half the national average. Young women across age groups say that an engagement ring should cost less than it does, helping to break the traditional expectation that the symbolic jewelry should cost three months’ salary. YPulse has found that 56% of Millennials believe there are no rules to determine the budget for an engagement ring, and over a third say that big expensive rings are out of style. (CNBC)
- Aug 21 2019
Tiffany’s is blurring gender lines with a men’s jewelry collection.
Tiffany’s is blurring gender lines with a men’s jewelry collection. The fine jewelry brand known for its powder blue box is shifting its focus from females to males with a line that includes cufflinks, money clips, cocktail mixers, and more. The Genreless Generation has been rethinking the bounds of what it means to be masculine and feminine, and luxury jewelry is seeing a spike as more men splurge on luxe accessories. Euromonitor International found that sales of luxury jewelry for men jumped 22% from 2013 to 2018 and estimates it will reach about $6.6 billion by 2023. (Quartzy)
- Aug 08 2019
Gucci thinks digital avatars could tighten their grip on Millennial and Gen Z shoppers.
Gucci thinks digital avatars could tighten their grip on Millennial and Gen Z shoppers. The brand has been leading the luxury space as a young consumer favorite, and now they’re going digital to stay top-of-mind for their majority Millennial shoppers and to win some Gen Z mindshare as the demo moves into their spending power. They’re teamed up with Genies, a platform for personalizing avatars, and soon users will get to dress their mini-selves in Gucci fashions—and share their new looks with friends. (The Drum)
- Jul 24 2019
Luxury streetwear stores are getting creative to keep up with Gen Z’s sneaker obsession.
Luxury streetwear stores are getting creative to keep up with Gen Z’s sneaker obsession. Nike, Adidas, and Puma are all releasing sneakers more often than ever, while 19 versions of Yeezy’s were dropped this year—compared to 12 in 2018 and six in 2015. To satisfy sneakerheads’ demands, e-commerce is a must because, as one boutique owner explains, “you need people looking at you at 2 a.m., 3 a.m. or 4 a.m.—it’s not enough to be open during the day.” Some stores are also adding Shoppable vending machines and creating their own exclusive lines. (Bloomberg)
- Jul 17 2019
Over 60% of Gucci’s 2018 sales came from Millennials and the luxury brand’s “fastest growing segment” is under 24.
Over 60% of Gucci’s 2018 sales came from Millennials and the luxury brand’s “fastest growing segment” is under 24.So, what are they doing right? Gucci has invested in tech that quickly turns ideas into products, and they’ve built a brand personality young people want to connect with. They also keep their ear-to-the-ground by monitoring platforms like WeChat—where they go beyond “guessing and hoping” by using AI to identify trends. (Jing Daily)
- May 23 2019
Marijuana is getting a high-end re-brand for a new strain (sorry) of young consumers looking to toke up with $1,000 artisanal bongs and micro-dosed CBD pastilles. These 4 brands are catering to their weed needs……