Boston Consulting Group finding: Young men like to shop
Political specialists spent much time this election cycle studying the voting habits of young people. The Boston Consulting Group, meanwhile, has been studying the spending habits of young people, and one conclusion of the firm’s analysis is that many young men like to shop for clothes.
That might come as a bit of a shock to the male geezer, who in many cases, regards shopping for clothes as about as engaging as a sober evening at the opera or a football-season Sunday filled with self-improving activities.
But in a survey of 4,000 Millennials --- consumers between the ages of 16 to 34 --- and 1,000 “non-Millennials,” the Boston Consulting Group said that its results show that shopping has evolved into a unisex pursuit for younger demographics --- that is, one that now appeals to both genders.
“Millennial men spend twice as much on apparel per year as non-Millennial men,” said Boston Consulting Group, a global management consulting firm, which added that Millennial women also go shopping more than middle-age women.
Young men patronizing haberdashers on a grand scale might qualify as an astounding revelation. For professional reasons, it would seem that many middle-age men are required to swaddle themselves in pinstripes and gray flannels and other expensive threads, while Millennials are more likely to be habitues of Old Navy, the Gap, and H&M, where outfits are generally less costly.
But when it comes to dining out or overall spending on clothes, Millennials are no slouches, said the Boston Consulting Group, which worked with Barkley and Service Management Group on a report they titled, “Millennial Passions: Food, Fashion, and Friends.”
One conclusion from the report: To win over Millennial consumers, “retailers and shopping malls will need to consider several factors. They should emphasize group-shopping experiences, create in-store events and social forums, use mobile apps and social media, integrate their in-store and online offerings so that Millennials can compare prices on their smartphones or return their online purchases in stores, and in general make shopping fun, fast, and easy.”Chris Reidy can be reached at firstname.lastname@example.org.