As the largest and most influential consumer group, Millennial shoppers have captured the imagination of the fashion industry. But as one new study shows, Millennial consumers buy one particular product in an unexpected way.
Handbags, a product owned by most Millennial women, are subject to a long consideration process before purchase a new study suggests. A study from NPD Group showed that over 40% of women considered buying a particular bag for a minimum of one month before purchasing.
Despite having less disposable income than boomers, Millennials consumers tend to care a great deal about the quality of the products they purchase. In fact, industry experts predict that, when it comes to handbag purchases, Millennials are far more driven by design details than designer names.
Millennials’ deliberative shopping style for purses is reflective of a larger Millennial attitude. The rise of the internet allows Millennial shoppers to heavily research items prior to buying them, leading consumers to take longer (a month and up!) to consider before purchasing.
With their focus on quality and reliance on peer reviews rather than name brand reputation, purse companies are having to transform their Millennial marketing strategies.
Contact our team to discover how we can help your business better understand Canada’s largest and most influential consumer group.
Which Millennial type is most likely to research a high quality handbag?: The Achiever.
© 2020 Abacus Data. All rights reserved.