Appealing to millennial audiences, the Find @ Lord & Taylor discount store invites a younger demographic to shop the retailer's stylish product range. In addition to its low prices, the shop boasts a sleek brand identity and employs approachable customer service reps that are dressed in a causal graphic tee uniform.
The first Find @ Lord & Taylor discount store was recently opened in Paramus and features a reclaimed product range consisting of overstock and clearance items. While its clearance items are sourced from Lord & Taylor locations across America, the retailer's discounted buys are sourced from partnering manufacturers.
'The store is designed to create expressions of discovery and excitement and to give a busy millennial customer a one-stop-shop that styles her life for less.' said Hudson's Bay Company president Jonathan Greller of the new retail space. In addition to offering affordable clothing, this discount store also features a myriad of decor items and appliances for the home.
Discount Millennial Retailers (UPDATE)
The Find @ Lord & Taylor Discount Store is Youth-Focused
Trend Themes
1. Millennial Discount Shopping - The trend of offering discounted products and services targeted towards the millennial demographic is a disruptive innovation opportunity for retailers looking to attract a younger audience.
2. Reclaimed Product Ranges - The trend of offering reclaimed product ranges consisting of overstock and clearance items is a disruptive innovation opportunity for retailers looking to reduce waste and appeal to environmentally-conscious customers.
3. Approachable Customer Service - The trend of employing approachable and casually-dressed customer service representatives is a disruptive innovation opportunity for retailers looking to create a more relaxed and welcoming in-store experience.
Industry Implications
1. Fashion Retail - The fashion retail industry can take advantage of the millennial discount shopping trend to attract younger customers and remain competitive in a crowded market.
2. Home Decor Retail - The home decor retail industry can benefit from the reclaimed product range trend and appeal to environmentally-conscious customers looking for unique and sustainable decor options.
3. Customer Service - The customer service industry can leverage the approachable customer service trend to improve customer satisfaction and retention rates, especially among younger generations who prioritize a friendly and welcoming shopping experience.