Post on 15-Apr-2017
The name Millennial was inspired by the time period in which the owner was
born. It is unique since she is part of the millennial generation. Millennial
offers a selection of black garments along with neutral tones and an
occasional pop of red. The font selection is simple and contemporary to
emanate the brands minimal urban chic aesthetic.
Store Atmosphere
The interior atmosphere of Millennial reflects the elite urban customer base.
The atmosphere sets a sleek sophisticated mood for any shopper who
enters. The design is minimal, but still very upscale and modern with large
front windows, white walls, dark grey textured ceilings, light grey wooden
flooring, and a miniscule light grey oval rug just outside the fitting rooms. It
has a boutique style layout, with an array of brands intermixed on each
display, however similar styles are located near each other, making it easier
for customers to locate specific merchandise. The moderately dim lighting
gives off a calm ambiance making it a pleasant experience for every
customer who enters. The size is rather small, however each garment rack
is placed to provide a spacious and sleek environment.
Target Market
Based on the VALS survey, Innovators are the target market for Millennial.
Innovators are successful leaders with sophisticated qualities, very
independent, aware of personal values, and always seek new personal
challenges. They have an upscale taste and are active consumers who
always make sure to purchase merchandise that will reflect their
personality. The innovator segment is appropriate for Millennial since all
the well-known brands and designers offered are high end, which reflects
the Innovators desire to have a prestigious persona. The image of an
Innovator is very important to them, so Millennial is the perfect fit for its
target market. Innovators are also very receptive to fresh ideas and
technologies so they would be guaranteed to be up-to-date with any
product available at the exquisite retail location. Due to the high price point
of merchandise, the target age range is 25-60.
Brand Personality
Millennial has the primary brand personality of sophistication. The clientele
loves to be innovative and always open to experiment with new looks and
designs. They come from an elite and very put together lifestyle and will
therefore expect the clothing they purchase to represent their image
exquisitely. The clothing is sophisticated yet edgy since there are plenty of
styles that incorporate enthralling materials such as leather and silks. All
elements featured at Millennial are inspired by street style seen throughout
major cities such as Chicago, NYC, Los Angeles, London, Paris and Milan.
This modern yet classy approach draws customers in and will keep them
coming back in order to keep up with the continuous modification of urban
trends. Millennial will make sure to allow every customer to embrace their
inner chic while wearing each noteworthy ensemble that they are matched
with.
City and Regional Profile
There is only be one Millennial location, which will be the flagship location
located on Huron Ave. in Chicago, Illinois. Chicago is the hometown of the
owner of Millennial and is the main inspiration for the ambiance of the store.
It is also the home to many elite consumers whom are loyal customers to
upscale retail stores like Millennial.
Chicago:
• Population: 2.7 million
• Median City Age: 33 years
• Median City Income: $45,214 • Education Level: Completed High School (23.96%), Completed
Bachelors Degree (19.95%), Completed Graduate Degree (9.12%) • Nearest Cities: Oak Park, Evanston, Cicero, River Grove
Flagship Location
The flagship location of Millennial is a storefront on Huron Street, and is
also the only location. This single location offers an arrangement of
luxurious brands from high-end designers and attracts the Innovator target
market, since the majority of clientele will be from or around the surrounding
lavish area. Huron Street is also located near main shopping streets in
downtown Chicago such as Michigan Avenue, Oak Street, and State
Street.
Trend and Inspiration Analysis
Silhouettes and Shapes
Formfitting dresses, gowns, simple tops, tight pants, skater style skirts, jumpsuits, leather jackets
Merchandise
Top sizes XS-L
Dresses XS-L
Jumpsuits XS-L
Jackets XS-L
Skirts 0-10
Pants 0-10
Accessories
Shoes 5-10
Brands
Givenchy | Balmain | Alexander McQueen | Rag & Bone | Helmut Lang |
Victoria Beckham | Tom Ford | Alexander Wang
Price Point
Upscale, better price point ranging from $300 - $5,000
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30 E Huron Street #4107 Chicago, Illinois 60611 is Off Market | MLS#
08668469 | @properties. (n.d.). Retrieved April 30, 2015, from http://www.atproperties.com/8668469/30-e-huron-street-4107-chicago-illinois-60611-nei?ref=tinyatp&pt=39315283