The New Fashion Millenials Consumers

Fashion is more and more ruled by today’s ‘millenials’ and generation X & Y, who have now a combined spending power of $2.5 billion and who have new expectations when it comes to purchasing fashion.

The millennial is the digital generation born between the 1990s and early 2000s. Another definition could be the 15-25 year olds that are still dependent upon the ‘bank of Mum and Dad’. And with an 20-year-old still living at home, I can certainly confirm this.

" Millennials grew up in an electronic-filled, online, socially networked world, which continues to advance at a relentless pace. ”

These are the generation that has received the most marketing attention and are very savvy when it comes to finding the best products at the best price; they expect products to be delivered quickly and are always after the latest brands, gadgets and ’it’ items.

Millennials, The Most Ethnically Diverse Generation

As the most ethnically diverse generation, millennials tend to be tolerant of difference and are very concerned with protecting the environment and supporting corporate sustainability. Having been raised under the mantra “follow your dreams” and being told they were special, they tend to be confident. While largely a positive trait, the millennial generations’ confidence has been argued to spill over into the realms of arrogance, entitlement and narcissism. And the rise of the ‘selfie’ would definitely support this.