LIM College study reveals Millennials are not loyal to fashion brands
The study entitled "Shopping Trends Among 18-25 Year-Olds" that was conducted by LIM College professors Robert Conrad and Kenneth M. Kambara reveals that Millennials are not loyal to fashion brands. In fact, 45% of the students surveyed said there is nothing a brand can do to retain their loyalty.
Located in midtown Manhattan, LIM College focuses exclusively on the study of business and fashion. The study surveyed 275 LIM College students enrolled in associate through master's-level fashion business programs and was conducted from March 2-9, 2015.
Respondents were asked to evaluate the applicability of statements regarding why they may have abandoned what had been their brand of choice in 2013. The top responses were the availability of desirable new alternatives, the brand no longer fit their identity, a simple desire/need to change brands, and the brand was no longer unique.
When asked what their current favorite could do to remain the student's brand of choice, the top response of the overwhelming majority among the 55% indicating a willingness to stick with a brand was "develop innovative new products and services". The other top answers were improve design/style to reflect uniqueness, improve product quality, engage in causes, philanthropy, or endeavors that reflect the student's beliefs/values, and limit distribution to maintain the brand's exclusivity.
Professor Kambara explained that since there is a lack of product innovation it is up to the brand managers and retailers to fuel customers’ desire, and Professor Conrad pointed out how companies like J. Crew, Nike, and Barbour devote space to other brands to offer unique products.
Copyright © 2022 FashionNetwork.com All rights reserved.