The group of shoppers between the ages of 13 and 30 is like the Holy Grail to retailers — the millennials. Get them to either ask their parents to shop in your store or take their own disposable income there and you’re golden. To try and earn a chunk of that spending power, Macy’s is launching 13 new brands and is spiffing up and expanding 10 it already has.
Among the new offerings will be an “exclusive” Marilyn Monroe fashion collection and men’s T-shirts which feature tattoo-influenced designs, reports the Associated Press. We call those graphic T-shirts with tribal designs where I come from, but potato, potato.
Some of the new looks will be in stores this fall while others will roll out in the spring, and are reportedly only the first phase of Macy’s big attempt to lure in the millennials. They’re the ones who grew up with cellphones and the Internet and know their way around the digital world. So if they want a T-shirt with tribal tattoo designs, they’re going to expect to get it fast.
Once those millennials hit their earning years, Macy’s wants to be right there with them. But it won’t be easy — the Boston Consulting Group took a look at the spending habits of millennials earlier this year and found that they’re more likely to trust Facebook friends than ads or bigwig corporate guys. Spending happens more online or at specialty stores than at department stores, and whatever they set their sights on, they want it in a jiffy.
As such, Macy’s needs to freshen up its franchise, say experts, if they want a chunk of that spending power. We’ll see how Marilyn Monroe goes over with these tech-savvy kids — either they’ll love her or wonder who she was, exactly. Then they’ll look it up on their smartphones.