Fifty years ago, during the decade of Hippies and Mods (aka, the 1960’s), the average American household spent over ten percent of their budget on fashion. Fashion budgets allowed for the purchase of approximately 25 garments annually. Fast forward to the 2010’s where an average American household dedicates less than 3.5 percent of their budget to purchase 70 garments per year.
When analyzing current and future fashion trends the analysis MUST include the most vital (and largest) demographic – the ‘Millennial Generation.’
A Personalized Innovative Fashion Approach
Millennials depict themselves as innovators. Remember, the Millennials have grown-up during the invention of the Internet, the PC and social media – technological innovations labeled as historically transformative. As a result, Millennials inherently expect world-changing innovations as the norm. While quality remains important to Millennials, they prefer that their clothing did not actively advertise anything but social causes. Many Millennials purposefully create a personal style to reflect their vision and personality, as reflected through their social media accounts and wardrobe.
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Understanding How Fashion Relates to Social Media
Fashion has, and will likely continue to be remarkably connected to social mores. This translates, in today’s world, through the use of social media. Millennials do not enlist the help of their friends for a fashion advice; they research fashion blogs or Pinterest when making fashion decisions.
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The More Unique the Better
Millennials prefer fair prices, but have a strong craving to express their uniqueness through fashion.
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The Take Away
Millennials choose to focus upon the impression they wish to create. Additionally, Millennials use the tried and true methods of a) wearing clothes that fit correctly, and b) by maintaining a professional look. In general, research suggests that everyone performs at a higher level when smartly dressed for success.
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