4. Understanding the Young Millennial
Young Millennials 18-24
31.5 million consumers
About 15.75 - 26.75 million females
2015 clothing sales were around $123 billion
Young Millennial Women purchase the most
clothing at 93%
1/3 of millennial women say social media is top
influencer of clothing purchase
5. Millennial Needs and Wants
Actively seeking advice on how to be trendy
Mintel Consumer Reports
Gift buying for themselves
Sales and special offers will cause them to
shop somewhere they normally would not
have visited
Mintel Consumer Reports
6.
7. What would make YOU shop at Kohl’s?
“I think I would shop more at Kohl’s if they had a
section tailored to the young adults. They have
teens and they have women’s, but sometimes it’s
hard to find something for the in between.”
“If the women’s clothing fit me better or the
junior clothing was more trendy and updated I
would shop at Kohl’s more.”
“More selection for college age.”
8. The young female millennial
shopper does not have a
space designed to meet her
needs within Kohl’s.
The Problem
14. Threats
Young millennials wanting more from experience
economy and less from consumer economy
Wanting more discounts & value
Seasonal spending
15. Competition
32% of respondents shop at American Eagle
JCPenney recently launched Belle+Sky
To draw in the “Fast Fashion” shopper
Target partners with “Who, What, Wear”
Creates monthly line with new trends
18. What is “The Vault”?
A new department in store for young millennial
women at Kohl’s
Corresponds with current Women’s brand reflow
Consists of 4 brands
Store within a store experience
22. New Private Brand Inspiration
Don’t Ask Why
by American
Eagle
Express
Who What
Wear
by Target
23. Strategy & Implementation
Test “The Vault” in 25 doors
Across all regions
Different store grades
Following the test…
Roll out to around 200 stores
Available online to all shoppers as well
30. Technology
“Millennials are certainly very savvy online customers,
but that doesn’t mean they’ve stopped frequenting
brick-and-mortar venues,”
survey by Accenture
Goal
create a unique in-store experience using
technology
31. Technology Builds In-Store Experience
Social media is the primary source for young
millennials to hear about deals and products
According to a study done by Blackhawk
Engagement Solutions.
A TV in the department with a live feed social
media feed
#TheVaultAtKohls
33. Dressing Room Technology
Individual IPads mounted within dressing room
stalls
Browse Kohl’s website
Order items
Scan merchandise to suggest add on buys
Brings e-commerce into the store
Protective casing to prevent theft & privacy
concerns
34. Additional Technology Add-Ons
Building off Kohl’s current Push
notifications
Make them specific for The Vault
More signs advertising the free WiFi &
Kohl’s app
35. Marketing Plan
Social Media Component
Facebook, Twitter, Instagram,
Pinterest, SnapChat, etc.
Instagram Photo Competitions
“The Vault” Blog
College Campus Component
“The Vault” Van
Brand ambassadors specifically for
“The Vault”
36. Financials per Store
Based on 2015 sales, $228 per sq ft
“The Vault” = 1,280 sq ft
$292,000 sales
Expected to double sales per store
Additional $292,000 in sales per store
25% increase in sales per store in adjacent
departments
Accessories, Active Wear, Beauty
Increase basket size
This will result in a 2.5% increase in sales per store.
37. Return On Investment
COGS $4,662,144.00
Total Store Expenses $216,250.00
Total Marketing $433,000.00
Total Expenses $5,311,394.00
Total Revenue $7,296,000.00
ROI 37.37%
38. Measures of Success
Financial = increasing female clothing sales
Specifically LC Lauren Conrad, ELLE, Pink Republic,
the new brand
Compare to similar brand launches
IPad usage
Number of searches
Scanning of SKU’s in dressing room and scanning of
same SKU’s at checkout
Push notifications
How many used compare to how many sent
Social media
Popularity of #TheVaultAtKohls
