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“Attracting Gen Z and Young Millennial shoppers is the key to sustaining a luxury brand. Luxury retailers and brands must continue innovating and connecting to a digitally-minded younger audience. Offering items at entry-level price points can encourage brand loyalty that will last until these younger adults reach their full earning potential. A focus on sustainability will also help attract these more environmentally-conscious younger consumers.”

– Tamara Sender Ceron, Senior Fashion Analyst

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“Ethical retail practices have been very much in the spotlight since the start of the COVID-19 pandemic. Attention was drawn to how retailers treated both staff and members of the public during the pandemic. In addition, shoppers across all age groups are increasingly concerned about the effect their shopping habits might be having on the environment. Most consumers now feel it is important to shop for ethical products when buying frequently purchased items such as food, clothing and beauty products. As a result, retailers must do a good job of communicating any ethical initiatives to consumers.”

– Chana Baram, Senior Retail Analyst

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