By MediaStreet Staff Writers
Millennials rely on social media influencers more than ever for fashion shopping ideas and inspiration, but say they trust them less.
This is according to a Dealspotr survey of Millennial shoppers, conducted to better understand the shifting dynamics between consumers, lifestyle influencers and retailers in today’s digital economy. They say, “Perhaps more than any other industry, fashion retail has been upended by social media and the rise of digital influencers. Millennials are increasingly reliant on social media and the influencers who dominate them to curate trends, new brands, and the styles they wear.”
This year’s edition, Dealspotr’s Millennial Fashion Shopping Study, underscores some surprising shifts in Millennials’ perceptions of social media influencers. Notably, in 2017, Millennials are starting to trust influencers less than they used to. Millennials are also becoming more sophisticated in how they evaluate influencers – a previously important indicator of trust, an influencer’s number of followers, is now largely ignored by this demographic. At the same time, Millennials are now more reliant than ever on lifestyle influencers for fashion ideas and inspiration, creating a critical yet challenging landscape for fashion brands to navigate.
“Millennials now trust social media influencers more than their friends and family for fashion picks and recommendations,” says Michael Quoc, founder and CEO of Dealspotr. “However, as the influencer economy matures, brands must be hyper-aware of shifting perceptions and increasing skepticism towards online influencers when crafting an influencer marketing strategy.”
Highlights from the report:
- Social media influencers are now the #1 factor driving fashion shopping decisions among female Millennials (41% selected as their primary influence). Lifestyle influencers now have greater impact than more traditional factors such as friends and family (37%), TV / magazines / advertisements (20%) and celebrities (19%).
- At the same time, 52% of Millennials say they trust social media influencers less these days.
- Millennials no longer judge influencers by their number of followers. Only 7% primarily care about an influencer’s number of followers, far outweighed by the influencer’s sense of style (60%).
- Millennials are extremely price conscious when it comes to fashion brands. 70% of Millennials say price and value are the most important attributes of a fashion brand, above the brand’s style at 43%.
- 36% of Millennials say the availability of a discount code is their primary factor determining whether they would try purchasing from a new or unfamiliar fashion brand.
- 65% of Millennials primarily make fashion purchases in-store, compared to 41% who primarily buy online.
To download the full report, click here.