By now, you’ve probably paid attention to Generation Y – the 18 to 35 age demographic, but have you diverted your attention to Generation Z, their younger siblings and children? Extremely comfortable with technology and interaction on social media sites, they’re making an impact to the retail industry. It’s time to take notice of how they will change retail.
- Video Engagement – Gen Z consumers get inspiration from YouTube – seeing video as a seamless, virtual environment. Many retailers are beginning to offer their merchandise via shoppable videos, clicking through to their websites. Perhaps in the future, retailers will need to further integrate video into their traditional channels to capture Gen Z’s attention.
- Community Influencers – Much more than traditional marketing, Gen Z consumers trust each other’s opinions and are high influencers on each other. They’ve built a community online and rely heavily on user reviews and experiences. Retailers must look to engage with them on a social level and build a community to keep their brand loyalty.
- The Decline of Department Stores – We’ve seen recently that department stores are having a hard time keeping customer loyalty. Department stores have been failing at capturing the attention of Gen Z consumers. The range of merchandise they carry is too large to create a sense of community. Additionally, department stores attract a wide range of consumers adding additional challenges to creating a unique or cool store experience.