Victoria’s Secret, an American designer, manufacturer and marketer of women’s premium lingerie, womenswear and beauty products, has emerged as a favourite brand among millennials. This has been revealed in a report published by Condé Nast in association with Goldman Sachs – The 2017 Love List Brand Affinity Index. It is an annual research study that examines millennial and Gen Z consumer preferences in fashion, retail and beauty categories.
Victoria’s Secret managed to bag 56.6 per cent vote in the study which surveyed 2,345 US consumers aging 13-39. However, despite the brand’s popularity, parent company L Brands suffered recently due to a drop in sales.
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“The retail industry is in the middle of a seismic transformation, and if you want to be a next-gen company, you need to adopt a digital and mobile-first strategy. As millennial and Gen Z consumers become a dominant spending force, their phones are their connection to the world, and it’s only getting easier for them to spend their money by using it,” said Pamela Drucker Mann, Chief Marketing Officer of Condé Nast, adding, “Through this study with Goldman Sachs we’re able to identify the shifts in consumer preferences and behaviour, and generate meaningful and actionable insights for our clients and business partners.
