Are we in a retail evolution or revolution? The answer comes down to the level of preparedness that retailers have committed or will commit to in order to shield themselves from change. Regardless, this will demand the need to “think differently” because the next generation shopper, Gen Z, will force a change that the millennials have been preparing us for. In comparison to millennials, Gen Z are more self-aware, persistent, realistic, innovative, self-reliant, and less frugal. Their sheer size will exert an enormous influence on how we go to market and how we engage them, speak to them and retail to them.
At a recent event hosted in Mexico City, we delved deeper into the game-changing impact the Gen Z consumers are having on the retail landscape. We also discussed the underlying drivers that inform the design of unique retail experiences that deliver on customer delight, increase competitiveness and loyalty, and strengthen ROI.