If you’re a fashion retailer, tapping into the Millennial market undoubtedly tops your marketing wish list. They’re a fashion-conscious, social-savvy demographic that comprises one-quarter of the US population, and spends over $600 billion annually. Makes sense. But did you know that their power extends even beyond THAT? Millennials are responsible for creating and informing on fashion trends web-wide – and other generations are listening to them! Millennials know this and they wield their mobile prowess like a superpower. [Link to mobile post] You want in on that action? These top brands demonstrate how: (READ MORE) Millennials value loyalty, and they love relevant incentives just as much. They want easy-to-join loyalty programs, and easy-to-redeem rewards, with an emphasis on elite, exclusive perks. Our loyalty programs white paper [LINK] breaks down the top fashion and retail loyalty programs that Millennials are loving – and here’s a sneak peak at their top picks (by gender): • Millennial women love Victoria’s Secret, Kohl’s and Target in that order. • Millennial men have similar faves, with the order changing slightly, and sporting goods beating out lingerie in their top three of Kohl’s, Dick’s Sporting Goods, and Target. What makes these loyalty programs so popular with these tech-savvy folks? It’s the way they play into Millennials’ habits and preferences. Victoria’s Secret’s PINK Nation app, for example, offers a variety of members-only exclusive perks, including PINK points and badges to earn, special offers and event invites, and incentives for checking in, shopping and sharing. There’s even an Instagram interface to make it that much easier. It’s a social shopper’s dream. If you’re not offering a loyalty program, you’re missing the Millennial boat and better run to catch up (while you still can). Here’s why: • 74%
of Millennial women and 52% of Millennial men said they’re members of at least one fashion and accessories loyalty program. • 64% of Millennial women and 42% of Millennial men are active in at least one retail loyalty program. • 75% of Millennial women and 64% of Millennial men who are members of at least one loyalty program indicated loyalty programs were a consideration in where they buy their clothes. Need to arm yourself with more info to sell your CEO on this concept? Read our full report on Millennial fashion and accessories loyalty programs here and fell free to reach out for info specific to your vertical. Do you participate in any loyalty programs? Bet you do!