As economic troubles rise with higher prices and new tariffs, a surprising ‘hero’ is helping boost spending: younger generations. Even though they are putting off big life choices, they are still very active in the market, supporting fashion and consumer goods brands. At the same time, artificial intelligence is quietly helping businesses thrive.
During the Reuters NEXT conference, leaders from top brands agreed that young people are not just shoppers but also trendsetters. Joanne Crevoiserat from Tapestry noted that Coach is growing steadily, mainly due to China’s middle class, while younger shoppers are increasingly drawn to Kate Spade products.
At the Honest Company, a special team works on managing costs to deal with tariff hikes and keep prices from rising too much. Even though shoppers prefer smaller packages, overall purchase amounts stay strong.
Artificial intelligence is also making waves in the eyewear industry. Warby Parker co-founder Neil Blumenthal pointed out that AI has cut down on red tape, letting vision specialists focus more on customers. Meanwhile, Tapestry is looking towards Generation Alpha, the new group of consumers who are growing up with AI as part of their everyday lives.
