Sprawling, multi-option retail spaces speak to the Gen Z way of shopping
Implications - The fast pace society adheres to in the digital age has set the tone for convenience and speed in the retail space. However, as Gen Z ages, their propensity for leisurely in-store shopping ushers in sprawling spaces designed for browsing. The youth generation enjoys this approach as it taps into a predator-prey aspect of shopping that they enjoy. Unlike Millennials, this generation sees a product as a means of expression more powerful than an experience or memory and enjoys taking the time to find and choose the right item.
Workshop Question - How are you helping your younger consumers express themselves?
Trend Themes
1. Browsing as an Experience - Traditional retailers can lure millennials back to brick-and-mortar locations by creating sprawling and immersive shopping spaces that allow for leisurely browsing and tap into a predator-prey aspect of shopping that Gen Z enjoys.
2. Ecommerce to Brick-and-mortar - eCommerce retailers are setting up physical stores as a way for customers to have a hands-on and immersive shopping environment, while still adhering to convenience and speed.
3. Tech-enhanced Shopping - Brick-and-mortar stores are embracing modern technology to create immersive and interactive shopping experiences that appeal to the next generation of consumers.
Industry Implications
1. Fashion Retail - Brick-and-mortar and eCommerce shops in the fashion industry are using creative strategies to attract and retain customers by creating memorable and immersive shopping experiences.
2. Department Stores - Department stores are evolving to include large-format stores and kid-focused spaces to create a family-friendly shopping environment that caters to all ages and interests.
3. Ecommerce - Online retailers are utilizing pop-up shops as a way for customers to connect with the brand while showcasing a range of products and delivering differentiated experiences on the way to purchase and increasing their loyalty.
