A new report identifies 10 distinct shopping styles that characterize Gen-Z and Millennial consumers, and the report suggests ways that retailers and landlords can best serve those groups.
The report, produced jointly by ICSC and the Retail Industry Leaders Association, places these 10 styles into four categories: The Basics; Research & Consult; Experiential; and Swap & Simplify.
Physical retailers are the ones best positioned to address each customer’s individual tastes and requirements, the report notes.
“The industry has changed drastically at the hand of technology, but retailers’ primary focus has always been providing the best customer experience possible, whether that means a quick and easy checkout process or the opportunity to interact with different products in store,” said Adam Siegel, RILA's senior vice president of research, innovation and sustainability. “This report helps the industry better understand the diverse wants and needs of the tech shopper and, in turn, meet those expectations with innovative and effective shopping experiences.”
ICSC concurs. “The younger demographics are pressing retailers to innovate and incorporate technology to fit their needs, on their terms,” said Stephanie Cegielski, ICSC's vice president of public relations. “This study reveals [that] the youngest — and thus future — consumer [is demanding] an integrated, personal experience throughout their shopping journey, both on and offline.”
The study comes on the heels of RILA's report done with Accenture, titled “Delivering for the New Consumer,” which explores how retailers are responding to the wants of today’s retail customer, and it also follows the release of the ICSC study titled “Gen Z Shopping Behaviors Support Retail Real Estate.”
This latest report, from RILA’s (R)Tech Center for Innovation (established last year to help accelerate innovation within the retail industry), is titled “Shopping Styles in the (R)Tech Age: Serving the (R)Tech Shopper.”
By Edmund Mander