Retailers are adapting to chase millennials and Gen Zers.
Attracting millennials and Gen Zers could help retailers thrive in a difficult environment.
In a time when brick-and-mortar retail is struggling unlike ever before, these two younger demographics could breathe life into same store sales. Despite millennials' reputation for doing everything online, they're far more likely to make purchases offline, and they account for $600 billion worth of consumer spending in the US, Forbes reports.
Gen Zers also prefer to shop in-store and despite still being very young, between 7- and 22-years-old, they already account for another $44 billion in annual spending. If retailers can successfully become part of the shopping habits of millennials and Gen Zers, they may be able to thrive as these demographics come to represent an ever larger portion of all consumer spending.
“The power has shifted from the institution to the consumer” - Tim Cook, CEO Apple
Brands are realizing when shoppers are provided Touchscreen Informatics in-aisle they can increase sales with a dynamic marketing message to distinguish their product and offer product information while capturing insights to match a shopper’s feed-back for a reason to buy and a call-to-action.