The Millennial Generation, No Matter How To Swing In The Future, Will Pursue "No Shortage".

Businesses now understand that "experiential" products are more likely to favor the millennial generation than a physical object.

The simplest example is that those who were born in the early 1980s to early 1990s were more attentive to what tastes good.

In recent years, the net red bakery, dessert shop, milk tea shop, chicken pot, duck pot and bullfrog pot blowout appear to be able to prove this to a certain extent.

At the same time, the millennial generation did not neglect food health. Light food is also seen in the popularity of the first and second tier cities.

Although consumption preferences are becoming clearer and more diversified, the millennials are becoming more cautious in their choice of consumption.

According to the world clothing and shoe net, because of inflation, the average annual income of men in the United States in 1973 was 54 thousand dollars, compared with 51 thousand and 600 in 2016.

At the same time, the consumer price index shows that at present, the price of the United States is 6 times that of 1973, and the price of China is also 6 times higher than that of 30 years ago.

Faced with rising prices and shrinking wages, the millennial vision has become even more profound.

They began to like to buy H&M and Zara.

Brands, high priced boutiques and retail stores are beginning to fade away and become less attractive.

According to the US government's earlier survey data, the total retail consumption of consumers has been steadily increasing since 1992, but the physical stores have been showing signs of weakness since 2003 and began to decline continuously since 2006.

There is no doubt that in this case, it is the electricity supplier that helps maintain the overall growth level.

Mortimer Singer, chief executive officer of Marvin Traub Associates, a retail brand research firm, believes that people's pursuit of fashion is beginning to lean towards practical clothing that can be worn repeatedly. With millennial interest, money will not always be spent. Therefore, the decline in consumption has become one of the reasons leading to the decline in physical store consumption.

"If someone goes to the gym 3 times a week, they can easily spend 400 dollars a month, so most people will have no spare money to go shopping," says Singer. "Buy a Kate Spade bag every month or take the money to do other things, and you have to choose where to spend money."

In a consumer study last year, Morgan chase found that in addition to fitness, the millennial generation will spend most of its money on student loans, which is doubling the number in 2005.

At the same time, they also face greater pressure to buy houses. Now housing prices in the United States are 250% higher than they were 40 years ago.

As a result, the millennial generation can not afford to live in a tight budget.

With the change of young people's consumption concept, fast fashion updates shelves with two times a week, and the effectiveness of intention to stimulate consumption is gradually weakening.

And the birth of rental services and second-hand middle stores is even worse for them.

In foreign countries, Gwynnie Bee, an old rented clothing company, Rent the Runway and big code women's rental clothing company, has developed into maturity, and garment two or three has gradually occupied the new rented garment market in China this year.

"These are just the tip of the iceberg. There will be more services in the future."

Singer said.

and

Shireen Jiwan, chief executive of Sleuth, a consultancy, thinks that clothing accumulation has reached its peak ten years ago, and businesses always want to earn more money on impulse spending.

Although this idea has not changed yet, the consumer's idea has changed. No matter how the future swings, it will eventually pursue "no shortage of goods".

"Once in a while, the minimalist wardrobe has become a popular way of life," Jiwan said.

In her view, the popularity of the concept of minimalism was also caused by the "time famine" era.

Social media and mobile devices make working days smoother but longer, leaving people relaxed.

Time is running out.

"Electricity providers, Uber and Amazon, these companies can accurately and effectively give us what we want to achieve maximum efficiency."

She said.

The electricity supplier is like a very simplified shopping process. It saves time for people to score seconds, even if it is time famine to save the contemporary people.

"There are more impulse spending in physical stores," said Ravi Dhar, a professor of marketing and management at Yale University. "The business platform is more inclined to target consumption, although the experience is relatively small but more direct."

This is why stores are starting to enhance customer experience, immersion and participation.

For example, Nordstrom recently opened a shop that provides tailoring services but does not sell goods; Prada opened a performance space in the flagship store in New York; the largest store in Lululemon built a yoga community space.

From the perspective of the current development trend, the store will become a showroom next to the real world, and become a good place for brand culture and communication with customers.

Of course, efforts under the line are also intended to stimulate sales, but the future sales of businesses may be more likely to be online.

And offline stores will not be wasted. The two channels will do their jobs and complement each other.

According to Dhar, the book "sorcery and sorcery sorcery", written by Japanese writer Marie Kondo in recent years, has also stimulated young people's yearning for minimalism and planned life.

This concept is reflected in the shopping, it is rational consumption.

In addition, Malinda Sanna, the founder of consulting firm Spark, thinks there are several reasons for the declining trend of physical retail.

One reason is due to the weakened consumption desire of the baby boomers.

These women tend to be over 55 years old. Although they still like to try all kinds of consumption fields, they are very likely to lose interest in fashion products.

Sanna found that they were not satisfied with the fast fashion products, and they even felt a little sick of it.

This group likes "high-end sustainability" products, and is interested in the culture and source behind the brand and products.

In addition to this group, which has a purchasing power and an impact on the market, she also believes that the rise of second-hand electronic commerce also has a certain impact on the entity store.

For example, The Real Real and Tradesy attract large numbers of consumers with the luxury of luxury and attractive prices.

"Buying a second-hand C line sweater on Tradesy is better than buying a new dress in Zara," she said. "Quality may be better."

In a study that has been done, Sanna found that people are not interested in physical shops but are forced to choose a more efficient e-commerce platform by the fast pace of reality.

"People want to shop more and more restrictions.

The decline of the entity store is also the result of the compromise of consumers to some extent. "

She said.

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