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Macrotrends

The New Social Order

... likely these numbers will continue to rise. There's no question that brands are throwing money at influencers: roughly 75% of U.S. companies relied on influencer marketing in 2018. The sector is already worth billions of dollars, an amount that is increasing every year: a recent Business Insider report estimated that influencer marketing could hit $15 billion by 2022. But the metrics for success are murky at best, and companies should be thinking hard about how to use influencer marketing to best ...

The Customer Isn't Always Right

... on issues (see Clear Consciousness), and, as such, it is important that they embody these values in every aspect of their business, from their employee programs to the causes they get involved in to the customers they serve. For example, if a company has made it part of its mission to support LGBT rights and charities, the brand has the right—and some might say the moral obligation—to turn away customers who openly speak out against the cause it champions. By serving such a customer ...

There's No Place Like Home(town)

... help youth draw attention to how they feel about where they’re from and highlight the positive attributes that come from embracing their hometown. By helping youth access this nostalgia for and subsequent pride in showing off where they came from, brands will find themselves winning consumer trust.Additionally, brands should emphasize their own origin story to connect to their roots and use it as a foundation as they bring their business into the future. Brands that do this strengthen their ...

Sense In Sensitivity

... . Following the Paris attacks, Amazon put the French flag on the middle of its site with the word “Solidarité” and removed all product images from its homepage. Similarly, eBay placed the words “Liberté, Egalité, Fraternité,” the national motto of France, at the top of its site with the viral Pray for Paris image, and also removed product photos from its homepage. While both retailers kept their sites open for business, it was better that they acknowledged the event on their homepage than to have done ...

Shop Talk

... by live streaming the process, allowing viewers to engage with sellers and one another.The Big Business Of ReturnsOne of the biggest turn-offs of shopping in general and online shopping in particular is the looming prospect of making a return. Online shopping makes it easy to order items that may or may not fit or work for their intended purpose when they arrive, and even in-store shopping runs the risk that those clothes won’t look as good out of the dressing room or that piece of furniture ...

True To Self

... and fun online but brisk and pompous in person. At best, it denotes poor social IQ; at worst, it can signify that someone is self-centered or trying to “fake it ‘til they make it.” As a 23-year-old guy explained, “You have to be who you say you are online. If not, people will find out.” This mindset is a major reason why young people feel comfortable doing business with strangers (consider Airbnb or Etsy). People’s online identities stay with them forever, so it’s neither kosher nor wise to ...

The One

... Brand Friends Forever). As people carry brands around in their pockets via their smartphones, brands have become constant companions. Consider how consumers now have instantaneous two-way interactions with brands on the very same personal devices used to connect with their current or potential romantic partners. Despite this increased intimacy, many brands still regard individuals as mere business transactions. Yet, they should view them as possible romantic partners whom they need to woo in order ...

First Glocals

... , and that’s what this whole generation of youth is.” Hence the rise of a new mindset, shaped by GYs’ conscious preservation of local traditions, customs, and ideas—a shift from the “first globals” to the “first glocals.” Consequently, we are redefining the term “glocalization” (which originated as a business strategy in Japan) to describe GYs’ desire to be both global and local citizens. Somewhat paradoxically, this globally shared culture has inspired an amplified pride in GYs’ local identity ...

Clear Consciousness

... -25-year-old Michael Preysman, left his job in venture capital to start his own business. A passion for great design and frustration with the lack of innovation in the retail space led him to build Everlane, a journey that consumers can read about more on the company’s platform.CLEAR MISSION Everlane prominently displays its philosophy: “Know your factories. Know your costs. Always ask why.” Believing that nothing is worse than complacency, the brand makes it its mission to dissect each decision ...

Retail 2.0: Youth Outlook On Luxury

... do the same.RECOMMENDATION: Show you care about these tenets just as much, if not moreso, than your young consumers. Reflect this in every aspect of your business. And if you misstep, put your money where your mouth is and commit to the continual education of your brand and your employees.1 in 2 Trendsetters in the UK and U.S. have bought at least one luxury product in the last year, and just under one-third of Trendsetters in both countries report buying more luxury/high-end products than they ...