Young Americans often express a willingness to pay more for products that involve social responsibility (e.g., sustainable products), for example, while a majority of people of color (57%) indicated they would be willing to, while a majority of the people of color. (57%) indicated that the majority of whites (59%) would disagree. Similarly, a majority of Gen Z (57%) and Millennials (61%) are willing to take the plunge, while two-thirds of Baby Boomers say they won't.
However, price is the most important factor for people of color (60%), with similar numbers for Generation Z (63%) and Millennials (56%).
Please contact these groups for more social information, keep in mind that price is still the most important factor.
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Women and men approach the market differently. For example, women who buy their own fashion (73%) consider price more important than men (59%). They also care more about quality (66% vs. 59%) and style (59% vs. 50%) than men.
But they spend more than men: 71% of women who budgeted before buying fashion said they overspend at least sometimes, compared to 65% of men. because? Most women (52%) do this when they find something they want to buy, compared to 45% of men. Women are also more likely to engage in retail therapy - shopping to celebrate a good day or skip a bad day - with 1 in 5 describing it as expensive compared to 14 per cent of men. Perhaps for this reason, regardless of their shopping habits, fewer women see spending on fashion as a source of financial stress (41% vs. 47%) because they find it enjoyable.
Treat women like savvy shoppers to capitalize on underground style.
Bottom line: Know your customers and sell wherever they are, and your fall fashion season can be a hit.
