Young adults (the younger portion of millennials, born 1993-2003) are imposing new values and new usages.
Club Talk - Communication, Marketing & Vente
Young adults and money, what’s up?
They will dictate changes to come to everyone everywhere, because they reversed power relationships towards brands and institutions for good. They have a deep consumer knowledge, and refuse to compromise. Companies have to adapt to their desires and inspirations, not the other way around. New adults are used to interact with everything online. That means they have access to many options, can compare offers, and find actors who best suit their values. They have radically redefined everyday notions: luxury does not mean having the most, but living the best. Beauty does not mean looking good, but feeling good. Working does not mean earning a living, but choosing a path. Investing does not mean building for the future, but missing out on the present. All of this with ease of use in mind at all times, and a merciless eye for things that feel forced or not transparent. To appeal to this generation, banks and insurance companies have to gain their trust, and impose themselves as useful partners for their projects, which ones will not tolerate anything slowing them down. The key with new adults, is to convince them you will help them improve and enrich their life in all ways possible.
Speaker: Pascal Monfort is a consultant, specialized in Fashion, Luxury and Sport. He spent 10 years as Consumer Culture and Innovation Manager at Nike before opening his own consultancy firm. His main clients are Nike, Adidas, PSG (the Parisian Soccer club), Hurley, Mugler, Issey Miyake and Lacoste. He also teaches Fashion Sociology and Fashion Culture in several institutions including HEC, Science Po Paris, ISEM Fashion Business School, IFM (Institut Français de la Mode), and MOD'SPE. Since May 2013 Pascal Monfort is also the Fashion Director and Creative Director of Sport et Style of L’Equipe (#1 Sport French newspaper). He sees the trends from a trans-disciplinary perspective and his views on coming back to the basics and the desire to build a wardrobe where ‘timeless products’ form the core, is based on very concrete observation.