#Millenials consuming behaviour and #privatelabels push of online retailers, is seriously cooking up a #retail #storm!!
Few key symptoms -
1 Millenials demand #performance vs #logo - Its not about flaunting a logo that labels them as connesieurs, its more about understanding what they possess. Its like apple vs nexus or one plus. Explains the rise of such brands.
2 Millenials seem #practical in price value equation - Marketing and Brands is about profits, doesnt appeal to them, they are ok with private labels with quality output. They read #reviews to trust a new brand and easy return policy makes it work. Shows growing emergence of private labels like amazon basics.
3 Millenials #search #google or app for literally everything - Thats a big one! Thus, white dress shirt search will land them to more often than not to private labels rather than the white shirt from ralph!
Imperatives??
#Brands need to create an unmatchable offering mostly thru fantastic quality at the right price. And engage in whys of #storytelling of how the brand aligns to thier #pragmatism. Curate personalized collections via #VisualMerchandising in a physical store. Plan #human-interaction to aid in story-telling and #feedback so that u appear as a brand that cares.
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