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All posts tagged millennial
ASOS Adds 5000 New Fashion Styles Weekly, a Strategy CEO Nick Beighton Believes Attracts Millennial Shoppers
“British retailer ASOS adds about 5000 new styles to its product offering weekly, a strategy CEO Nick Beighton believes attracts younger Millennial shoppers. And we can’t argue with that: the brand’s active customer base has risen 24% over the past year to 15.4 million, and retail sales rose 34%, with the momentum remaining steady.
The company is also growing quickly internationally, as sales rose by 46% in the U.S. and 45% in the E.U. “
“Cities like New York, Chicago, and Los Angeles, have always attracted Millennials looking to get their start. But factors such as rising realestate prices and stiff job competition have sent Millennials migrating to other places in the U.S.
So where are they heading to exactly? We’re glad you asked.”
By 2030, Millennials are expected to control as much as 25 trillion dollars of wealth globally; their parents are expected to pass down another thirty trillion dollars by 2050 in North America alone. Companies that position themselves to be the trusted financial advisors to Millennials today, stand to reap enormous benefits over longer periods of time.
Economists studied restaurant spending, a component in retail sales, and found that Millennials are tempering their casual dining spending more than any other age group.
“In an increasing trend, 52% of respondents said they primarily watch their favorite show through online sources such as Netflix. At the same time, a decreasing trend shows only 23% of […]
“Think you’ve got millennials figured out? Think again. Instead of working for someone else’s company, we’d rather work for ourselves.”