Archive for the ‘Millenials’ Category

Macy’s targeting millennials … pssst: so is everybody else.

November 12, 2012

Punch line: Macy’s is launching 13 new brands and expanding 10 other existing labels that it believes will resonate with shoppers in the 13-to-30 age group.

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Excerpted from The Washington Post’s, “Macy’s launches new brand strategy to cater to millennials, the 13-to-30 age group”

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Macy’s new fashion offerings, which are being rolled out this fall and next spring, represent the first phase of the retailer’s intensive campaign to attract the highly sought-after … but challenging bunch. The tech-savvy group likes to spend and it likes brands, but shops differently.

In March, Macy’s restructured its merchandise team to focus on those shoppers and plans to make other major changes in the next three years to further rope them in. Those range from infusing tablets and other technology into the shopping experience to changing displays more frequently.

Boston Consulting Group released a study earlier this year based on a survey of about 4,000 millennials.

The research showed millennials trust their Facebook friends more than corporate ads or experts, and tend to favor spending at specialty stores, discount stores, online or outlet stores.

And they put a premium on speed and convenience.

Christine Barton, a partner at the Boston Consulting Group, says the department stores have a big opportunity to grab this customer, but they need to “refreshen their franchise.”

Edit by JDC

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