trends now
20-something Truths
by Karlen McLean, ABOC, NCLC
EB asked 20-something consumers, including opticianry school students, about their spending preferences, eyewear perceptions, and willingness to buy online. Here are a few highlights of the key influencers that drive this group's purchasing habits.
AFFORDABLE COOL
National Federation of Opticianry School students at Baker College of Jackson – Opticianry Business Management Class in Jackson, Mich., said that they want to look good but don't want to pay a lot. Popular frame styles for this age group include “nerd” plastics and simple wire frames.
While financial approaches to eyewear vary among working 20-somethings, most keep their eyewear purchases to a minimum. Those with insurance typically have one pair of glasses with little to no extras and keep an old pair for backup. For sun-wear, it's popular to layer contact lenses and cheap, plano sunglasses.
DOCTOR'S ORDERS
Lens technology isn't a high priority for this age group. Instead, the doctor's recommendations and insurance coverage influence add-ons.
“Most 20-somethings are unaware of differences in lens types and just go with whatever lenses their optometrist's office recommends,” says Kate Baker, 29, an account manager at Moneywise Payroll in Charlottesville, Va. “Most have to pay extra for anti-glare and scratch-resistance, if they can afford it; optical insurance isn't that common.”
In terms of specialty glasses, 20-somethings are often unaware of their existence or usefulness. While few of the students are interested in spending additional cash on special glasses, an explanation of why they are special or what they do help move them toward buying.
SAVVY SHOPPERS
These tech-savvy shoppers take to the Internet to research eyewear options and compare prices. In fact, females in their 20s often window shop in person to examine the product firsthand but search online for a better deal. But that's not the only advantage of the web: Many 20-somethings cite convenience as online retail's biggest advantage. EB
| Generation Luxe |
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While many 20-somethings report budget buying, a recent report from American Express Business Insights tells a different story. According to the data, Generation Y has a healthy appetite for luxury fashion. With the help of flash sales and members-only, deal-of-the-day sites such as Gilt and HauteLook, average consumers purchase otherwise unaffordable designer goods at greatly discounted prices. And as the numbers show, they want more. Luxury sales are quickly increasing, with average spenders—including 20-somethings—leading the surge in all fashion categories, including premium luxury and full-priced online luxury retail. 33% Gen Y increased its spending on premium luxury fashion by 33 percent in 2011 over 2010. 31% Though it represents the smallest group of luxury consumers, Gen Y led the charge of full-priced online luxury retail, spending 31 percent more on designer duds than the year before. 27% Gen Y also increased its spending among all groups in specific retail categories, such as jewelry, shelling out 27 percent more in 2011. |
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