47% of millennials buy second-hand items due to affordability and sustainability factors

New Ideas in MarketingEssential news for marketers, summarised by YouGov
January 23, 2020, 2:02 AM UTC

Millennials to make up three-quarters of the workforce by 2025.

This article cites a Roth Capital Partners survey which found that for millennials, Nike is the favoured brand in the activewear, outdoor apparel, outdoor footwear and climbing category. Brands like Under Armour, The North Face, Adidas, Timberland, Vans and Black Diamond also ranked prominently.

The most used subscription service was found to be the Dollar Shave Club, followed by Chewy and Target. Additionally, the report revealed that 47% of millennials buy secondhand products for reasons of affordability and sustainability.

63% of millennials who buy items online prefer making returns in-store. 47% of respondents would purchase from digitally-native brands offering products in-store.

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