At the Retail Design Expo at the start of the month, Generation Z was topical amongst brands and retail strategists alike. Amongst the conversations, it became clear that 81% of this consumer group believe that retail stores are important. Retail Dive published that by 2028, Gen Z will collectively make up 70% of the population, alongside millennials.
As such, this digitally fluent and highly collaborative tribe are the ideal opportunity for brands and retailers. Forbes shared that ‘with creativity, rich ideas flow through the system from the minds of Gen Z’. The key to targeting this group is to nurture retail experiences that are co-authored and allow them to take the driver’s seat in creative conversations.
‘with creativity, rich ideas flow through the system from the minds of Gen Z.’Forbes
We recently shared our insights from the expo, where we highlighted the importance of brands delivering retail experiences that foster creativity and co-creation. This tactic is particularly powerful amongst Generation Z who are attuned to two-ways dialogues with brands via social media.
Interestingly, 73% of this group have a video game console. Marketing dive disclosed that 40% of Gen Z enjoy playing games as a means to earn loyalty. As consequence, retailers have an opportunity to bring gaming to the store environment to create a retail experience that is engaging and nurtures long-term engagement.
Retailers have an opportunity to bring gaming to the store to create a retail experience that nurtures long-term engagement.
Whilst on the topic of loyalty, it is important to note that, in comparison to millennials, they are 50% more likely to write a product review in exchange for points. This tactic can be translated into a meaningful consumer experience in store, that breeds trust and can act as a means to undertake research and development.
To build authentic conversations with this group, brands must nurture a two-way relationship that embodies a partnership. This should be participation-driven, allowing Gen Z to be creative, play and engage with others.
Considerations to make when designing a store interior that will attract Instagrammable moments.
Throughout covid, department stores have received a lot of bad press, but, do store closure represent an exciting new landscape for retail?