Understanding the mindset and buying preferences of Millennial consumers is a key issue for marketers in companies across the economy—and in no industry more than apparel. Newport Board Group partner Helen Bulwik is a nationally recognized expert on retail and the consumer sector. In a recent piece in the San Francisco Chronicle, Helen commented on the rise of a number of new apparel companies, including American Giant, Modern Citizen and Cuyana, startups that have come out of the San Francisco area with “their own unique spin on standard-issue wardrobe basics.” They seek to take advantage of Millennials’ Internet savvy and their interest in behind-the-brand stories.
The piece quotes Helen’s view of the trend for Millennials to seek purchases with higher quality and narrow assortments: “These companies are very specific and very niche, but there’s tremendous growth potential,” says Bulwik, noting that 80 percent of an apparel business can be driven by basics, but innovation must comprise the last 20 percent.”
The piece goes on to cite an example of what Helen is talking about: American Giant has reinvented the hoodie with a classic zip up made from 100 percent North Carolina-grown cotton. It is said to blend “seamlessly from weekend outfitting to the Bay Area’s ultra-casual tech-worker uniform.” The piece adds other details about the trend for Millennials to gravitate toward “rebranded basics.”
For more information about Helen or to contact her, please click here.
