Ontario's Square One Shopping Centre is currently undergoing a massive expansion that's set to bring new life and business into the city. In the process, there are dozens of new stores that are being introduced as newcomers to the shopping center and province, including Quebec chain Simons.
Simons may be a 175-year-old retailer, but it has a particular talent for attracting Millennial shoppers with its edgy products and fun retail environments. The new Simons store in Mississauga has shelves that are stocked with up-and-coming designers and offbeat accessories like purses shaped like milk cartons. The space itself features quirky dressing room units styled like portable outdoor toilets and provides an easy-to-share experience with free Wi-Fi.
On the topic of retail chains targeting Millennials, Trend Hunter's VP of Research Strategy Armida Ascano told CTV News: "We are the generation in the most debt, but we are also the generation who's the most educated. So we're also slated to have a lot of disposable income in the future."
Click here to watch the full segment on CTV News.
CTV News: Armida Ascano on Millennial-Targeted Retail
Armida Ascano on CTV News
Trend Themes
1. Millennial-targeted Retail - Retailers looking to target Millennials can focus on creating an edgy retail environment with quirky accessories and designs.
2. Expansion of Shopping Centers - With the expansion of shopping centers, new stores have an opportunity to introduce themselves to a wider, and potentially more Millennial-friendly audience.
3. Disposable Income of Millennials - As the most educated generation, Millennials are expected to have a lot of disposable income in the future, presenting opportunities for retailers to tap into this market.
Industry Implications
1. Retail Industry - The retail industry can focus on creating a more Millennial-friendly environment with unique designs and accessories to attract younger shoppers.
2. Shopping Center Industry - With the expansion of shopping centers, there is an opportunity for new stores to target Millennials and introduce themselves to a wider audience.
3. Fashion Industry - The fashion industry can focus on showcasing up-and-coming designers and offering unique and quirky designs and accessories to attract Millennial shoppers.