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Page 32 The Antique Shoppe October, 2017
Ushering Antiques into the 21st Century:

How Dealers Can Connect with a New Generation of Shoppers

Walk into a baby boomer’s oversized suburban home and antiques for both sentimental and practical reasons. Millennial
you’re likely to find a collection of antique chairs, a dining room collectors who attend my antique appraisal events across the
table that’s been in the family for three generations, heirloom country tell me that they want objects that remind them of
china, and a model railroad train in the basement. Walk into grandma and are long-lasting pieces that stand that test of
a millennial’s urban apartment, and you’re likely to spot a time made of high quality, durable materials with interesting
kitchen table from Pottery Barn, home décor from Bed Bath designs."
& Beyond, a hodgepodge of dishes they’ve accumulated since It still remains to be determined how the taste and
their college days, and high-tech gadgets in every room. preferences of millennials will evolve. As most people mature,
Millennials are the consumer market of the future. They they become more nostalgic. This could be lead to growth
spend an estimated $600 billion each year in the U.S. alone, of the antique market. The items that millennials value may
and are entering their peak earning years. But according to not be traditional antiques. They might appreciate vintage
Goldman Sachs Global Investment Research, millennials aren’t products that embody technology rather than craftsmanship.
big-ticket spenders. Instead of investing in cars and luxury Think pinball machines, first generation cell phones or personal
goods, they’re seeking flexible work options, dedicating more computers, and old radios.
income to events and live experiences, participating in the David Rosenblatt, CEO of 1stdibs.com, an online
sharing economy, and living simpler lives in smaller spaces. marketplace for buying and selling antique furniture told
Millennials are reshaping the economy — and antique The Economist, “Mad Men has helped push the slick,
dealers who haven’t already quit the trade are being forced minimalist aesthetic of mid-century modern furniture into the
to examine how they do business. Parents who are trying to mainstream.”
pass down ornate family heirlooms are getting stuck with these
valuables because the next generation doesn’t want them. Successful Antique Dealers Will Need To Adapt
To Changes in Customer Tastes
What Millennials Really Want How Antique Dealers Can Engage Millennials
Millennials — born between 1980 and 2000 — have a different hierarchy So, what can antique dealers do to connect more to the millennial shoppers
of needs than previous generations. In a Goldman Sachs Fortnightly survey of who might not be interested in the antique furniture, china, crystal, flatware and
interns, only 40 percent of millennials said it was extremely important for them jewelry the baby boomers have accumulated?
to own a home; 30 percent said they don’t intend to purchase a car in the near ● Focus on the individual. Yes, millennials shop at Crate and Barrel, but they
future; and 30 percent said owning a TV is important but not a big priority. were also raised to value individualism and establish themselves as unique. Don’t
That’s because a majority of millennials say the primary reason they go to treat millennial customers like just another number. Ask questions to discover
work every morning is to fund their next vacation, according to a FlexJobs survey. their personal design aesthetic, and tailor the selling process to meet the buyer
Self-identified “digital nomads,” millennials are more mobile than previous needs.
generations, frequently changing jobs and relocating, and are more accustomed ● Appeal to the socially conscious shopper. Millennials appreciate a personal
to sharing everything from cars — Uber and Lyft — to homes — Airbnb and experience that is lacking at big box stores. They want to buy products that are
HomeAway. made in a socially conscious manner. Products made by hand, locally. While social
This transient lifestyle doesn’t lend itself to an 8-foot dining table, a justice has not been a traditional selling point for antique dealers, qualities valued
cumbersome cuckoo clock, or an antique trunk full of family heirloom quilts. by consumers change from generation to generation.
Instead of spending money on possessions, 20- and 30-somethings want ● Tell a story. Millennials value authenticity, so dealers should communicate
experiences. More than 75 percent of millennials would choose to spend money the story behind the antiques they’re selling. Millennials also love to learn, so if
on a desirable experience — concerts and music festivals, pub crawls and travel — there is cultural or historical significance to the items, teach them about it, too.
over buying something desirable, according to Eventbrite’s nationwide research. Emphasize the backstory, and convey that the pieces were made by people who
Additionally, according to the Pew Research Center, for the first time more are truly passionate about what they do.
than 130 years young adults are more likely to live with their parents than with a ● Connect with them online. Although millennials still step foot inside brick-
spouse or partner. The census data found that 32 percent of 18- to 34-year-olds and-mortar venues, online shopping and social networks are more important
are living at home with their parents; while only 31 percent of young people are to them. Accenture found that 68 percent of millennials want an integrated
married and living in their own household, compared to more than 60 percent in retail experience that allows them to seamlessly transition from smartphone to
1960. personal computer to physical store. Antique dealers need to find more creative
When they eventually do marry and move out on their own, millennials are ways to connect with these digital natives, including having a dynamic social
passing over more traditional things, such as decorative furniture and glassware, media presence, communicating via text message, and building a responsive
in favor of simple, modern furniture and inexpensive consumer goods. If young website with high-quality photos and a connected e-commerce platform.
professionals do collect things, they collect contemporary wall art, not curio ● Convey investment quality. As more millennials mature and settle down,
cabinets full of Depression era glassworks. they will begin to buy houses and will be on the hunt for unique items to use
“You still see young collectors in scattered categories,” Gary Piattoni, best in their own homes. Antique dealers should emphasize quality, simplicity and
known for his hosting role on Antiques Roadshow on PBS, told the Houston functionality, and encourage millennials to buy items that will appreciate in value
Chronicle. “They’re interested in toys, comic books, sports cards, contemporary over time. Millennials will be more likely to buy antiques if they view it as a wise
art.” investment.

Out with the Old, In with New The millennial generation is the largest consumer group in the United States.
This trend doesn’t paint a pretty picture for the antique industry. Does the Although selling to this important demographic is challenging, if antique dealers
sector have a future? understand who the millennial is, their values, and behaviors, they can remain
Jim Stephens, a 62-year-old in Spokane, WA who collects and repairs vintage relevant in the fast-changing world.
muscle cars from the 1960’s, doesn’t think so. “Every year you see less and less
young people at classic car shows on the weekends. It’s a cultural thing that
millennials don’t seem to connect with as much. I think once my generation
passes, it won’t be a thing anymore.” About the Author
However, not everyone agrees. Dr. Lori Verderami, Ph.D. Antiques Appraiser Bob Ellis is an e-commerce entrepreneur and owner of
from the History Channel’s The Curse of Oak Island, believes millennials enjoy Bavarian Clockworks, an online store that sells authentic
possessions that bring back childhood memories. “Millennials are attracted to Black Forest cuckoo clocks.