We’ve seen trends come and go over the years and trends that have come back. Here are the consumer trends to watch in 2020.
- Old favorites are coming back
Products for the early 2000s and earlier are starting to come back. Consumers are seeking retro-inspired products which means brands can start digging out past products for design inspiration. According to NPD Group, fanny packs have a 106% YOY growth and classic sneakers have a 13% YOY growth. Keep an eye out for your favorites to come back, your students will thank you.
- Promotion Seeking Will Continue
Over the years, consumers have gotten into the habit of searching to find the best deals. This trend is going to continue, and consumers are going to start expecting to get a discount. Consumers reported paying nearly 60% less for products at off-price stores than traditional department stores in 2019.
- Consumers are Purchasing Sustainable Alternatives
With the push for sustainability, consumers are looking for sustainable products or vendors who are sustainable in manufacturing. If you have sustainable products in your store, be sure to call this out. Your students are more likely to purchase a product made of recycled materials. If you need supporting materials to promote sustainable products in your store, reach out to your Douglas Stewart Account Manager.
- Consumers Will Desire Convenience Even More
Consumers are taking advantage of buy online, pickup in store. Millennials and Gen Z have busy lifestyles and don’t want to shop in store. If your store can offer a buy online, pickup in store program, start implementing it now.
- Ownership Will Transform
Instead of purchasing apparel new, Millennials and Gen Z are purchasing used items or renting. Online consignment and rental is increasing among these generations. 45% of Millennials and 38% of Gen Z are purchasing from consignment.
Source: NPD Group