Mass affluent consumers are a large demographic for banks to capture and monetize.
A strong digital presence drove Nordstrom Rack's Q2 growth, while Crocs hopes to revitalize its HEYDUDE brand by focusing on a younger, female audience. Holliseter is leveraging back-to-school promotions and targeted marketing initiatives to reintroduce the brand to younger consumers.
Instagram shoppers and millennials are top spenders. TikTok shoppers buy most frequently. Gen Z has mixed habits on Facebook and Pinterest.
YouTube, Netflix, and Amazon are Gen Alpha’s coolest brands, per an August 2024 report by Beano Brain that surveyed more than 55,000 kids under 14. To foster relationships with the generation that not only has growing spending power of its own, but also influences parent purchases, marketers will have to understand its evolving digital habits.
Lowe’s is the latest retailer to walk back DEI pledges: While companies fear the specter of a Bud Light-level consumer boycott, they risk alienating the majority of consumers who expect brands to stand up for social issues.
CMOs are torn on DEI initiatives. Consumers aren’t: A Morning Consult survey found that consumers want stronger internal DEI practices from brands.
Sephora targets Gen X shoppers with latest product launch: The beauty retailer is sharpening its appeal to beauty consumers over the age of 40, who spend more on prestige products than any other demographic.
They are YouTube, TikTok, Instagram, and Snapchat. There are also more Gen X social network users than linear TV viewers, and YouTube is closing in.
Gen Zers are more than twice (42%) as likely than the average (20%) to buy holiday gifts directly through social media in 2024, according to May 2024 research from Basis Technologies and GWI.
Google steered advertisers toward a loophole to target minors: An Adweek report says search giant encouraged clients to focus on minors via its “unknown” demographic.
MLB secures Spanish-language presence with TelevisaUnivision: The deal amplifies the outperformance of Spanish-language TV as sports remain a key linear TV attraction.
TikTok introduces group chats and custom stickers: The platform to engage Gen Z and rival messaging giants, but user adoption could be a challenge.
Neutrogena debuts product line on TikTok Shop in a bid to woo Gen Z skincare obsessives: The brand hopes to regain market share in the dermatological space after ceding ground to L’Oréal’s CeraVe and La Roche Posay.
Key stat: The younger the consumer, the more likely they are to accept cookies if asked. More than half (57.6%) of US Gen Z consumers say they “often” or “always” accept cookie notifications, compared with 53.4% of millennials, 46.8% of gen X, and 36.0% of boomers, per a July 2024 EMARKETER survey.
Now is the time for brands to build relationships with Gen Alpha: The generation is worth over $28 billion in direct spending, with billions more indirectly.
Retailers with ties to China, like Temu and TikTok Shop, have gained popularity in the US. Now, a wave of Japanese-based retailers and retail concepts has come to the US, signaling a potential shift for the retail landscape.
Adults worldwide access smartphones at a higher rate (98%) than children do (90%), per December 2023 data from Razorfish and GWI.
Gen Zers and millennials have normalized gaming into adulthood, but smartphones have opened the door for older generations.
Urban Outfitters and Pacsun are tapping into Pinterest and in-person experiences to get students and families shopping, while Meijer, Walmart, and Target are focused on value. Those are just a few brands that made our Unofficial Most Interesting Retailers List, Back-to-School Edition, for July 2024.