Product Desires and Motivations of Millennial Shoppers
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The first national meeting of textile and clothing professors took place in Madison, Wisconsin in June 1959. With a mission to advance excellence in education, scholarship and innovation, and their global applications, the International Textile and Apparel Association (ITAA) is a professional and educational association of scholars, educators, and students in the textile, apparel, and merchandising disciplines in higher education.
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Abstract
A market segment of particular interest to retailers is the Millennial cohort, those born between 1980 and 1996 (BCG, 2014). There are approximately 80 million Millennials in the U.S. who spend ~$600 million annually, a figure that is predicted to reach $1.4 trillion by 2020 (Donnelly & Scaff, 2013). Millennials demand genuine brand connections and should be marketed to with targeted strategies (BCG, 2014). However, Millennial consumers are not a homogenous group (Debevec et al., 2013). Therefore, the purpose of this research is to segment Millennial consumers by pertinent variables to identify consumer groups for targeted retail strategies.