Favourite brands of Millennials revealed in Condé NastBy Elliot Bullman
Those facilitating ecommerce, jump ahead on the list
Millennials are reaching their peak spending years and generation Z is not far off either, leading brands to compete for the custom of young consumers.
The companies named at the top of the study which measured brand popularity among younger US buyers are Victoria's Secret, Sephora and Nike, according to a report by Condé Nast and Goldman Sachs Group.
A key factor for business success is their online presence. Amazon.com was chosen as a favourite retailer in all categories and was the best shopping application for women.
"Consumers of the next generation were born with the phone in their hands, are addicted to technology and expect efficiency and immediacy in everything they do," said Pamela Drucker Mann, director of marketing for Condé Nast. "Watching what they do is like a preview of the total buyers."
Companies are making every effort to facilitate ecommerce as more than a third of clothing purchases in the United States are made online according to the study.
Traditional retailers promote their e-commerce activity whenever they can. Victoria's Secret parent company L Brands raised the issue online 12 times during the February earnings conference call.
Lululemon Athletica, ranked eighth on the list, said strengthening its online business is a priority for the coming months.
As for Amazon, the e-commerce giant was the most popular brand in the studio, ranking among the top 10 in all fashion categories.
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