The upgraded version of the saying should definitely be ‘whatever millennials touch turns to sold’. The power members of this generation have is incredible. They have the ability to influence not only the shopping habits of their peers and members of other generations, but the power to spark social, environmental and political change. Sure, they might be holding off on buying property, but a generation that has outnumbered baby boomers in the US alone is a force to be reckoned with, make no mistake about it. Their voice matters and that fact is visible in both spheres of global and national importance as well as the world of fashion and beauty. So, what exactly is happening in the colorful world of beauty and how exactly are millennials changing the world and the beauty industry? Those are exactly the questions we’ll be answering today.
In peers we trust
Numerous studies have shown that when it comes to persuading a millennial to purchase an item, traditional advertising has little to no impact. It doesn’t matter how many times an ad interrupts their YouTube and Facebook videos, they will not be swayed. They might feel a touch intrigued, but the road from the ad to a purchase is paved with reviews. These native speakers of the technology language rely on the digital version of the word-of-mouth system. They will ask peers, friends, check reviews online, trust their favorite beauty influencers before making a decision. What that means is, if a product has a couple of negative reviews, their beauty fund will be spent elsewhere.
This is where it gets tricky – there have been numerous studies dedicated to examining the issue of brand loyalty among millennials, and the results are conflicting. Some claim that brand loyalty doesn’t exist and that a typical millennial will turn to a different brand if the brand in question offers discount codes or shopping deals. Other reports state that brand loyalty is going strong, and that 62% of millennials will stick with a brand that has won them over through great customer service, (whether in-store or online), or by offering products of high quality with great tradition, as is the case with amazing Purple Peach, a shopping site that offers products from brands renowned for their quality. One thing is definitely certain – this generation seeks value for money, but they won’t refrain from searching further and they are willing to spend extra on a product that fits the exact description of what they want.
When they talk, the industry listens
The beauty industry has gone through great lengths to please one of the most demanding consumer groups of today. Bad shopping experiences and poor product quality are no longer tolerated, and in order to keep their business from failing, numerous brands have gone through what Racked calls ‘Sephorization’. Millennials want and demand to see a product in action before they commit to purchasing it, and because being in good graces with them is crucial for the success of every store out there, brands have followed Sephora’s cue and offering testers and trial counters. Nordstrom has gone as far as to create a testing and educational concierge service, and Target has the so-called beauty trial box service. A Millennial is a tough cookie, but a valuable one which every brand is fighting to keep.
Green is the new gorgeous
Members of this generation often opt for the green and natural route. This is why, aside from the aforementioned brands, Credo Beauty is one of the new favorites. As InStyle’s Roxanne Adamiyatt says “we love a good beauty buy from Credo because it’s basically the green beauty equivalent of Sephora.” Millennials have a high inclination towards natural and organic cosmetics, and the reasons are two-fold. Firstly, with natural brands what you see is what you get, and the chances of products harming your skin are minimal to non-existent. Secondly, this is the most eco-friendly t generations on the planet and brands with recycling programs, as well as vegan, and brands that don’t test on animals rank quite high in their eyes. That is why brands such as Au Naturale has a huge customer base, along with other natural brands with similar practices.
That settles it – with brands bending over backwards to please the new power-shopper, it is safe to say that indeed, millennials own this playground.