Decoding Millennials: The Latest Generation Driving Sales and
Societal Trends
MERRIAM, Kan., July 9 /PRNewswire/ -- In their world of ever-changing and
ever-busy lives, young consumers are inundated with choices/options and making
one brand or product stand out from the crowd can be nearly impossible. With
purchasing influences unlike any previous generation, these young Millennials,
the name coined for Americans under 25 years old, are essential to business
success. In an effort to figure out exactly what might catch their attention,
Lee Jeans went directly to the source commissioning a study on how this
generation is differentiated from those who have come before them.
Lee Jeans commissioned a study by Bulldog Drummond in November 2003, to give
consumers insight into what young minds are thinking about when making a
purchasing decision. The research was essential to the creation of the new
Buddy Lee Registered men's line, which is targeted at young males aged 18-25. The results also allowed the company to assess its new juniors line, Lee 1889. Targeted at young women shopping in juniors departments, this line is pulled
largely from the heritage of Lee's past designs and relies on traditional
designs that have stood the test of time.
There are 97 million Millennials in America today making up nearly 35 percent
of the population, and according to the recent study conducted by Lee and
Bulldog Drummond, they are driven by self-fulfillment and seek genuine
relationships, rather than simply material possession. This is good news for
unique, highly segmented products (and companies). With a matured sense of
self, this group will latch on to a company that portrays itself as "real."
Fakery is not tolerated. In the Millennial world, high-priced brands and
thrift store bargains can co-exist. Millennials love anything that fits into
their own personal sense of style, whether it's an ultra-premium item priced
well out of their normal price range or a super-cheap trinket.
Millennials are such a powerful consumer segment that companies across the
board have tailored their products to appeal to this new population. For
example, if a company gains popularity in surfing, Millennials will stick with
it when it holds on to its roots doesn't stray far from what it does best. Underground music groups and boutiques understand this and consistently provide
quality products that appeal to the individual.
The Lee study defines Millennials as old heads placed on young shoulders,
displaying a morality and maturity beyond their years. Millennials understand
their actions have repercussions. Their long-term vision extends to their
desire to have power and control over their own lives and seek out products and
activities that help them stay fit and care for their bodies. This will leave
a void companies must fill: servicing the needs of young couples embarking in
family life.
The pressure is on for companies to find a place for their products in the
Millennial's world. The group understands how to evaluate and apply value to
their lives, and they look for products that match their lifestyle. Millennials
quickly will shun anything that disappoints them, but will protect and honor
brands that consistently deliver value. This generation understands how
marketing works and is less susceptible to blatant messages. They are not
easily sold and know how to find and use information to make sure they get what
they need.
Even more than generations before it, this group relies on technology to
bolster its daily life. Millennials are empowered through the flow of
information and ideas, and also use technology to publish and disseminate their
own ideas and content.
Finally, does the age-old adage "sex sells" work for this marketing-savvy young
audience? This group sees through it, so the research says there must be a
reason for sex to be leveraged in advertising. The cynicism, manufactured edge
and gratuitous sex and violence seen in today's mass communication will be
forced to give way to thought-provoking, meaningful messaging.
With all this in mind about the savvy Millennials, brands that remain true to
themselves and their heritage stand out. Vintage isn't something every brand
can, or should, pull off. That's where Lee Jeans excels -- a brand known for
its authenticity and values, it has been a denim authority for decades.
Founded 115 years ago, Lee relies on history as the inspiration for Lee 1889's
vintage washes and one-of-a kind looks as well as Buddy Lee Registered's
updated take on the classic jean. And real history can't be faked.
Lee Jeans is a division of VF Corp. (NYSE:VFC). Headquartered in Merriam,
Kan., Lee manufactures and markets brand denim, casual pants, shirts, fleece
and knit apparel. VF Corp. is the world's largest apparel company and a leader
in jeanswear, intimate apparel, knitwear, workwear, playwear, daypacks and
swimwear. Its principal brands include Lee, Wrangler, Riders, Rustler, Vanity
Fair, Vassarette, Bestform, Lily of France, Lee Sport, Healthtex, JanSport,
Eastpak and The North Face.
Contact:
Allyson Moore 816.512.9434
DATASOURCE: Lee Jeans CONTACT: Allyson Moore for Lee Jeans, +1-816-512-9434, Web site: http://www.leejeans.com/
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