Victoria's Secret named favorite retailer among millennials

By

Rebecca Taras

Published
Apr 24, 2017

It’s no surprise that retailers are clamoring to tap the minds and wallets of millennials, but there are still some brands doing it a little better than others. According to a report from Condé Nast Inc and Goldman Sachs Group, Victoria's Secret tops the list as the most popular brand among millennials, followed by Sephora and Nike.

With Amazon leading as millennials' favorite retailer (and the top app for women), researchers found the secret to these companies' success is their online presence—which makes sense considering millennials are into experience-driven online shopping. It is somewhat ironic, however, that companies like Amazon (predicted to account for half of U.S. e-commerce by 2021) and Made.com are planning on opening up physical stores too.

The study also states that more than one-third of US apparel shopping is conducted online, putting the pressure on retailers of all price points. While it’s a fact that millennials like thrifting, it’s also been proven that they purchase luxury, which has prompted brands like Fendi launched a digital platform and Chanel to create a line of emojis in an effort to appeal to the millennial set.

Online presence aside, another potential contributor to Victoria’s Secret’s connection with millennials is the inclusion of items like bralettes (which are cheaper and easier to size and buy online than regular bras) and athleisure.

However, despite the brand’s popularity with millennials, parent company L Brands suffered recently due to a drop in sales from the lingerie chain.