Born between 1979 and 1996, Millennials are the largest defined generation, accounting for nearly one quarter of the US population. That’s approximately 78 million Millennials… and there have been nearly as many articles published about this highly discussed demographic. So why do I feel another is needed?
Written by Jessica Schiffer
Like everyone else hoping to maintain relevance with today’s consumers, Barneys New York has caught the wellness bug. This week, it introduced its new Conscious Beauty category in stores and online, comprised of “clean beauty” products and ingestible beauty supplements.
“The wellness trend has evolved and grown, and everybody’s talking about it,” said Jennifer Miles, Barneys’ vice president of cosmetics.
Indeed, the market is expected to be worth $13 billion by 2023, according to a recent report from Research and Markets.
“Customers are so savvy about ingredients, and very aware of what they’re putting in and on their bodies, so we really wanted to tap into that,” she said.
At this point, Barneys is playing catch-up to department store competitors. The news is reminiscent of similar endeavors launched last year by retailers like Neiman Marcus, with its Wellness Shop, and Goop’s pop-in shop at Nordstrom.
“Late or not, they’re recognizing that wellness is the new luxury,” she said. “Gucci- and Prada-heeled consumers are snapping up health and wellness experiences with the same enthusiasm as this season’s latest fashions, so it’s no surprise that Barneys is getting more aggressive with this strategy.”
In Summer 2017, Tillys teamed up with GPShopper to relaunch its mobile app. The buzz surrounding the relaunch was massive thanks to a scavenger hunt that utilized augmented reality (AR) to encourage consumers — particularly young ones — to engage with the brand.
The retailer joined forces with YouTube influencer Shonduras on a back-to-school campaign. The goal? To boost in-store traffic by combining AR, social media, influencer marketing and gamification through digital elements. Shonduras, who has more than 1 million subscribers on YouTube, hosted the contest and provided in-app hints to participants about where they could find and collect virtual coins in-store.
The campaign demonstrated how retailers can use smartphone technology to draw consumers into stores, motivating offline behavior with an online initiative and bridging the digital and physical shopping experience.
Mobile commerce is propelling retail sales forward in a way that's shifting how Magento etailers should think about their business. Chain Store Age recently reported that by 2020, mobile retail sales will hit 48.5% of ecommerce sales and will account for $250 billion in revenue. With this consumer shift comes an incredible opportunity for ecommerce savvy retailers to make it easier for consumers to shop their brand. It's great to have a mobile responsive site - but to make the most your etailing business, investing in a mobile commerce strategy is the way to go. Here's what you need to know:
1. Native Is Better
It's not enough to just have a mobile presence; retailers need native mobile commerce to see the true benefits that a mobile app can bring. Native apps run 5 times faster than mobile sites and enable an on brand, better user experience as a result. People view 4.6 more products on average in a native app compared to the mobile web and convert to purchase 3x more. If you want to boost numbers even more - add loyalty to the app to increase revenue by up to 20 percent.
The key here is you want the path to purchase and checkout to be as smooth and seamless as possible. You don't want to bounce the customer off the mobile app and onto mobile web to complete the transaction. If you do that, you'll lose the sale and just frustrate consumers that have come to expect immediacy and convenience from their mobile experiences.
An added bonus from having a native mcommerce app is that it gives retailers the chance to send push notifications at the right time to consumers. This is important because push notifications have been proven to lift sales....how?
It’s no longer enough to personalize beauty products with a shopper’s name or favorite color. Today’s consumers are seeking out brands that allow them to customize everything about a product, down to its formulation.
To satisfy this, a crop of brands across the cosmetics, hair-care and skin-care categories have popped up in the last few years to offer bespoke products, and the trend shows no signs of slowing down. A report last year from GlobalData found that a growing number of consumers, then at 61 percent, found the concept highly appealing.
“The push toward customization is linked closely to the beauty space’s desire to appeal to a diverse and global clientele,” said Maya Mikhailov, CMO and co-founder of retail app developer GPShopper. “Standards of beauty are shifting from traditional norms, and consumers are increasingly demanding beauty products that not only offer more choice, but also help them express their individuality.”