What do the millennial consumers want? It’s the million-dollar question, the answer to which is sought by not hundred, not thousand … but millions of brands and businesses worldwide. The power that the answer brings is immense, with the multi-billion industries targeted to this demographic. Below, you can find the top 15 most favorite fashion brands and retailers of millennials based on Moosylvania’s survey.
Goldman Sachs’ equity research team and Teen Vogue’s fashion experts have recently come together to build the 2015’s definitive “Teen Vogue- Goldman Sachs Love List.” The list features the brands that are most preferred by the Millennial Generation, the target group soon to become the largest consumer segment in America. Many experts have trouble identifying the exact age group for the Millennial Generation, but for this study, we can have 20-35 in mind. 1500 individuals were surveyed and asked to vote for their favorite brand and the results are diverse.
For a final “love-ability” score, the experts assessed the brands based on familiarity, affinity, and word-of-mouth, i.e. how much respondents talked about the brand and shared it with others. Considering the big role social media plays for this generation, it undoubtedly is a game-changer.
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Apart from app, electronic and other brands, we have found many news in the list of fashion and clothing brands. Some of the surprises you might find in the list is the presence and popularity of many sportswear brands like Nike and Adidas. Both brands have shown excellent results on Instagram, especially when it comes to celebrity endorsement by Kylie Jenner and others.
Beauty brands also got a good portion of attention and are ”well-loved and well-owned.” However, it looks like some fashion brands will need more marketing boost directed to the Millennial Generation. These brands were “floundering“ as ”favorability metrics” generally declined from last year. Apparel brands that you would normally find in malls across the country, like American Apparel and Hollister, had a tough time, and most handbag brands seem to be “falling flat.”
Let’s go over the top 15 fashion and clothing brands millennials love:
Aeropostale has been the teen favorite for many years. There is no high school where you won’t find an Aero tank top or sweatshirt. However, the loyalty score for this brand is decreasing -31% this year. Despite this, it has managed to keep loyal fans in their 20s who still pay a visit to their good old Aeropostale store in the mall.
14. Under Armour
As most of the sportswear brands on the list, Under Armour has also surprised us with a comeback to the top 15, but this time, it was a bumpy ride of 27% decrease in fan votes. The brand has done an immense job in signing top athletes, but the competition is tough, when you have to compete with Nike or Adidas. Still, a long way to go till the top 5!
Chanel has been leading a pretty targeted campaign for years; being a big player in high fashion and couture, it usually attracts the age group above 35. The fact that this brand has made it even to the top 15 most favorite brands of millennials can be a side affect from all the buzz it’s making with the older one. It has also been promoted by two of the most beloved celebrities/models of the younger generation – Cara Delevingne and Kendall Jenner. Chanel is new to the list this year, so we’ll be keeping a close on the future changes.
Is it possible not to love denim? And if you agree with me that it’s impossible, then you’ll also agree that it’s impossible not to love Levi’s, the King of Denim. Thanks to the never ending denim trend, Levi’s has always been popular with teens and consumers in their 20s. Its main competitor at the moment is the sportswear industry that offers more comfortable alternatives to denim. Although many people think this could be the start of a denim-free life, I think it’s not likely for soft fabric pants to defeat the jeans that have already become a part of the American culture. What do you think?
11. Victoria’s Secret
With all the multi-million fashion shows, glamorous Angels and a huge brand storyline supported in every single product, Victoria’s Secret took the 11th place among fashion and clothing brands. It has lost only 4% in fan votes, so the coming year needs to be more active. It’s the ultimate legend of the lingerie market, and although there have been quite a few scandals concerning photoshopped models and a lack of plus-size models on the runway, the brand is still a favorite for consumers.
10. Forever 21
Fashion is always expensive, but when you offer it in low prices, you become the teen favorite. And really, there is no doubt who the customer of this brand is once you enter the store. It’s actually targeted to the exact age group we’re observing, so while Forever 21 could do much better, we think it’s mainly because of its female-oriented consumer base.
9. Ralph Lauren
Moving from affordable to luxury, Ralph Lauren takes the 9th place in consumer voting. Compared to the performance of previous year, the brand has gained 74% in fan votes and consumer loyalty. The luxury brand is available in more than 11,000 stores worldwide and has started a new phase in marketing, with more involvement in social media. Let’s see what this change can bring to the game next year.
A pretty mainstream brand, Van’s, is the 8th most favored fashion brand by the millennials. Putting comfortable above everything else, it’s time for this brand to show some killer moves and be on the top of the “comfy” wave.
There is no teenhood without at least one pair of Converse. This kind of teen loyalty seems to leave deep roots and escalate in 20s and early 30s, as this brand has lost only 11% in votes but took the 9th place, outrunning Van’s. As many athletic brands are expected to rise to a next level, we will most probably see Converse leading the race in the coming years.
JCPenney is not just a store, it’s a huge department store you just have to visit on a trip to the mall, even if you’re not really looking for anything, it’s nice to see what they have for this season. And that’s where addiction starts. No wonder why votes for this brand have grown by 41%.
One of the biggest runners, Macy’s has gained more than 250% in votes! Despite the clothing modernization that Macy’s is doing now (investing in clothing that is in line with current fashion trends), it also places a big stress on cosmetics and home goods – two things female shoppers love! It’s the 5th most favored fashion and clothing brand at the moment.
Finally, the brand that wins almost all marketing marathons (with the exception of cases where Nike takes the prize), an absolute favorite by top athletes and their fans! The German brand lost 7% in votes, also losing this race to Nike. With more developments and news coming from its headquarters, we’ll hopefully see more involvement and love from the fans.
Considering that Jordan is owned by Nike, it is indeed a double-winner. Jordan sneakers are not only popular with sneakerheads, but they’re also popular on online shopping sites like eBay, Craigslist, and more.
It’s cheap, it looks awesome, and it’s chic. Target’s method of attracting shoppers definitely works, as it’s the second most loved fashion and clothing brand of millennials and has gained 21% in votes. When we’ve all been waiting for a one-on-one battle between Nike and Adidas, it seems like Target can do the job of taking the 1st place from Nike pretty easily. It might require going international.
Again, Nike has done it again. Marketing for healthy lifestyle, exercise, staying fit and being healthy, it relates to one of the most active consumer groups – the millennials. It holds the 62% of the athletic shoe market. As we’re all for the sportswear and comfortable clothing now, it seems that the winner has no intentions of giving up its throne.
Summing up the list, have you noticed that all brands in the lower 15 have been decreasing in votes and rankings? This can mean one thing. If they don’t come up and amaze us with new campaigns and social media buzz, we might see a totally new top 15 list next year. The full list has also included brands like Apple, Coca Cola, Samsung, Sony, Walmart, Asus, Android, Starbucks, and more.
Photo courtesy of @chiaraferragni
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