Back to the 90s
90s nostalgia is in full gear. From the Beverly Hills, 90210 reboot to the live version of The Lion King, to Baby Phat’s re-launch with Forever21, going back to the 90s is all the rage.
Did you know that there's still one Blockbuster Video store left? It's located in Bend, Oregon, and it attracts thousands of people each year, all in a bid to remember the 90s and relive a tiny bit of nostalgia.
You can find this trend in fashion:
and it’s even crossed over into music. Who could forget this classic?
Why Are We So Nostalgic?
From a purely psychological perspective, something about the past makes us feel like children again. Each generation remembers its time of innocence, when we were free from the burdens of adult life. We didn’t worry about bills, jobs, mortgages, or illness. Our lives were about school, friends, summertime, and fun on the weekends.
Nostalgic feelings bring us back to happier times. For retail businesses, this can mean big profits.
The Challenge of Predicting Consumer Trends
Over the last few years, nostalgia has become a top trend in the Retail industry. Tapping into this trend is an absolute must if you want to meet customer demands.
But consumer trends are tough to predict. What’s in now is out 2 months later. Even the most seasoned marketing executive with a plethora of reports and data analytics can find it challenging to know what customers want and where they’ll put their money. That’s why inventory is constantly replaced and why shelf space is fought over and traded like a Beanie Babies trade show.
Tapping Into Nostalgia
In the 90s, denim jackets were in every closet in America. Remember when flannel shirts were every grunge fan’s go-to piece? Every teenage girl wore chokers and pink lip gloss and every teenage boy had at least a few pairs of baggy pants.
Over the past 20 years, certain styles have gone out of fashion. Those teens are now adults with kids of their own.
But everything old eventually becomes new again, and that’s where retailers can tap into nostalgia and give their customers a fun chance to live it up again.