January 22, 2021

FIT Graduate Capstone Focuses on the Future of Brands

The future of brands is about adapting to the changing needs and preferences of consumers.
That’s one of the main takeaways from the Fashion Institute of Technology’s annual capstone presentation by the graduate students in the Cosmetics and Fragrance Marketing and Management program held Tuesday night. Sponsored by Shiseido, three groups of students focused on Millennials, brand expression and retail, to present ways for brands to succeed in the fast paced beauty industry.
To start the evening, the first group presented its quantitative research project focused on Millennials and their relationship with brands. Called “Closing the Consumer Gap,” this group conducted 10 surveys over the course of 12 weeks that went out to 250 to 500 Millennial consumers in order to better understand their shopping preferences.
“We liked the idea of us as Millennials fielding to our fellow Millennials to show that there really isn’t this divide anymore between the brand and the consumer,” said Grace Gordon, marketing manager in designer fragrances at The Estée Lauder Cos. Inc., who co-led the research project. “Our hypothesis was essentially that brands are still relevant [to Millennial consumers], but the relationship has evolved.”
The first key finding from the surveys was that price, quality and convenience are

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