Millennials are set to become the largest group of consumers in America.
Ad agency Moosylvania asked 1,500 millennials — defined as 20 to 35-year-olds — to vote for their favorite brands.
We broke out the results to show which clothing and footwear brands dominate among this subset.
15. Aeropostale
REUTERS/Brendan McDermid
Headquarters: New York, New York
% change in votes from last year’s ranking: -31%
Why it’s hot: Despite falling out of favor with the teen set, Aeropostale still maintains some loyalty with the 20-somethings who wore it in high school. The brand’s status, however, is falling fast as young people increasingly move away from logos.
14. Under Armour
Facebook/Under Armour
Headquarters: Baltimore, Maryland
% change in votes from last year’s ranking: -27%
Why it’s hot: Under Armour has exploded in popularity in recent years thanks to signing famous athletes like Stephen Curry and smart marketing of its performance-wear. But the brand faces steep competition from Lululemon, which is expanding its men’s line, and Nike, which continues to dominate the space.
13. Chanel
Photo by John Davisson/Invision/AP
Headquarters: Paris, France
% change in votes from last year’s ranking: New to list
Why it’s hot: The luxury brand’s outlandish fashion shows, which included an elaborate grocery store, tend to go viral on social media. Models like Kendall Jenner and Cara Delevingne give the legacy brand modern relevance.
12. Levi’s
Levi’s commuter jeans. The brand says the pants are soft and flexible, much like the athletic attire that is gaining popularity.
Headquarters: San Francisco, California
% change in votes from last year’s ranking: -18%
Why it’s hot: Levi’s has benefitted from young consumers’ tendency to wear denim and casual clothing to work. But now, many millennials are abandoning denim entirely, choosing to wear athletic attire instead.
11. Victoria’s Secret
Reuters
% change in votes from last year’s ranking: -4%
Why it’s hot: Victoria’s Secret is the undisputed leader of the lingerie market, controlling 35% of share. The company’s marketing strategy, which includes its famous Angels, is seen as one of the best in the business. Lately, Victoria’s Secret has received some criticism for not offering plus sizes.
10. Forever 21
Michael Buckner / Getty Images
Headquarters: Los Angeles, California
% change in votes from last year’s ranking: -30%
Why it’s hot: Forever 21 offers fast fashion at unbeatable prices and has expanded tremendously in two decades. However, many millennials are choosing to invest in a few quality pieces rather than buy cheap clothing, threatening Forever 21’s dominance.
9. Ralph Lauren
Ralph Lauren
Headquarters: New York, New York
% change in votes from last year’s ranking: 74%
Why it’s hot: Ralph Lauren’s brand is available at more than 11,000 stores worldwide. The brand has become more active on social media and hired Sports Illustrated cover model Hannah Davis to model its resort collection
8. Van’s
Headquarters: Cypress, California
% change in votes from last year’s ranking: -13%
Why it’s hot: Vans started out selling skater shoes, but has since gone mainstream. The company has benefitted from athletic footwear becoming more fashionable than dress shoes.
7. Converse
Headquarters: Boston, Massachusetts
% change in votes from last year’s ranking: -11%
Why it’s hot: Converse has seen sales boom as more millennials wear sneakers to work and other occasions. Athletic apparel and footwear is set to outperform the industry for the next five years, according to Morgan Stanley.
6. JCPenney
Scott Olson/Getty Images
Headquarters: Plano, Texas
% change in votes from last year’s ranking: 41%
Why it’s hot: JCPenney has been working to execute a turnaround, and it’s working. According to research firm Piper Jaffray, the department store is the third most-popular among female shoppers.
5. Macy’s
Kena Betancur/Getty
People enter the Macy’s store at the Newport Mall on November 27, 2014 in Jersey City, New Jersey.
% change in votes from last year’s ranking: 259%
Why it’s hot: Millennials are spending less money on clothes, which is bad news for Macy’s. In order to attract younger shoppers, the brand has been investing in trendier clothing lines and other categories like home goods and cosmetics. It also plans to open a lower-priced store similar to Nordstrom Rack.
4. Adidas
Facebook/Adidas
Headquarters: Herzogenaurach, Germany
% change in votes from last year’s ranking: -7%
Why it’s hot: Adidas is going to start offering customized shoes to appeal to millennials. It also is working to reduce the time between when products are designed and when they hit shelves. Still, the brand continues to lose market share to Nike.
3. Jordan
Headquarters: Beaverton, Oregon
% change in votes from last year’s ranking: 45%
Why it’s hot: Many of Nike’s Jordan brand sneakers are prominent on the billion-dollar reselling market. A growing culture of so-called sneakerheads buy collectible footwear on eBay, Craigslist, and other sites.
2. Target
Getty Images
Headquarters: Minneapolis, Minnesota
% change in votes from last year’s ranking: 21%
Why it’s hot: Target invented the idea of “cheap chic” two decades ago. Today, the company is revamping its clothing selections for millennials through designer collaborations, most recently with Lilly Pulitzer.
1. Nike
Headquarters: Beaverton, Oregon
% change in votes from last year’s ranking: no change
Why it’s hot: Data also shows that millennials believe exercise is essential for health, while their parents only focused on diet, and Nike is the go-to brand, holding 62% of the athletic shoe market. “Increased activity leads to increased athletic apparel and footwear spending,” the analysts write. “We see athletic footwear and apparel as more than a fashion trend.”
Source: Business Insider