The fact that brands are looking to capitalise on the Millennial or Gen Y share of wallet is no secret. Gen Y is leading conversations on the streets, on screens of all sizes, and in boardrooms. However, despite all the knowledge and research available, few brands are successfully engaging with Millennials.
Iconic brand Victoria’s Secret recently announced the closure of its swimsuit line. In an age when social media stars are taking over the internet, fashion labels, and conversations, Victoria’s Secret failed to keep up. At a time when women were looking for uniqueness, individuality, and conversation-starters, the brand was getting lost.
In stark contrast is swimwear start-up Triangl, started by two Australians who sold everything they had, moved to Hong Kong, and set up the affordable brand that was different to everything else in the market. In April 2013, they were shipping more than 100 orders a day. Boosted by celebrity wearers Kendall Jenner, Miley Cyrus, and Beyonce, Triangl became a cult brand on Instagram with nearly 3 million followers and skyrocketed to about $45 million in sales last year.
At the heart of any Millennial success story are two critical factors: speaking with authenticity and immediacy of conversation.
The ‘Millennial Consumer Trends’ report by website EliteDaily.com found that Millennials (58%) expect brands to publish content online before they will make purchases, and regard authenticity (43%) as more important than the content itself when consuming news (32%).
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