Tekstilna industrija (Jan 2019)
Generation Y and loyalty to fashion brands
Abstract
This paper explores issues of the Millennium Generation (Generation Y) and their visions and loyalties of the fashion brands they use in their daily lives. What efforts and skills should the marketing experts possess and what knowledge should be obtained before targeting this technologically advanced generation. What strategies should be used and what kind of advertising should be accepted in order to develop emotional connectivity and identification with the fashion brand. Should the marketing team lead the marketing team or give the word to consumers? The essential characteristics of the Millennium Generation, their habits, their needs, their desires, their way of life, their education, the work they do and how they spend their free time are examined. Which fashion brands and products are considered necessary and whether they are loyal. The selection of fashion brands of the Millennium Generation is considered, which are the ones that are most likely to buy and wear brands, which are the most popular and most common in their everyday life. Brands that Millennials use most are Apple, Samsung, Nike, Vans, Coca-Cola, Acer, Sony. Generation Y puts telecommunication technology Brands on first place, then it matters to them what they wear and then how they feed. The similarities, differences and shortcomings in the strategies that target the Y Generation are considered by PEST and SWOT analysis of Nike Inc. brand. Fair business practice and environmental protection are more important for millennium generation than price, and they have no problem with high prices as long as it justifies the quality. Millennials are loyal to fashion brands, and it is, therefore, necessary to continually improve their product and engage consumers in the discussion.
