Investment bank Roth MKM announced the results of its 2023 Millennial Survey; a proprietary survey examining current trends, spending patterns and favorite brands across eight consumer categories, including apparel and footwear, and health and wellness.
Some of the key findings for the sporting goods industry include:
- For the second survey in a row, Nike and Adidas are the leading activewear and footwear brands among Millennials (Gucci – which recently collaborated with Adidas and The North Face – is the most popular luxury goods brand)
- 53 percent of Millennials are more likely to buy directly from the manufacturer if personalization is available
- 64 percent of Millennials had their health and wellness purchases influenced by the COVID-19 pandemic
- 61 percent of Millennials have returned to their traditional fitness club since the COVID-19 pandemic
“While Millennials continue to revert to more normal post-pandemic behaviors, they are clearly feeling the pinch from inflationary pressures that are evident across the consumer landscape. Our survey shows that Millennial consumers are still willing to spend on innovative brands, products, and services that tailor offerings to meet their unique needs,” said Matt Koranda, managing director and senior research analyst at Roth MKM.
The survey of 279 questions was conducted in partnership with MFour Mobile Research and was completed by 2,500 Millennial-aged (those born between 1981 and 1996) men and women in November 2022.
