The Retail Industry Leaders Association (RILA) and the International Council of Shopping Centers (ICSC) have released a new report. Shopping Styles in the (R)Tech Age: Serving the (R)Tech Shopper defines 10 distinct shopping styles of the Generation Z and Millennial consumer and considers how stores and retail properties are adapting to meet these styles and needs.
The resulting 10 primary shopping styles are grouped into four categories:
In addition to identifying key components, industry leaders, and considerations for retailers within each shopping style, the report explores how new trends such as ubiquitous and ultra-personal shopping are shaping retail from a store and real estate perspective, and the role the physical space plays in meeting the needs of the (R)Tech Shopper.
“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,” says Adam Siegel, SVP of research, innovation & sustainability at RILA. “This report helps the industry better understand the diverse wants and needs of the (R)Tech Shopper, and in turn, meet those expectations with innovative and effective shopping experiences.”
“The younger demographics are pressing retailers to innovate and incorporate technology to fit their needs, on their terms,” says Stephanie Cegielski, VP of public relations at ICSC. “This study reveals the youngest—and thus future—consumer demands an integrated, personal experience throughout their shopping journey, both on and offline.”
This report comes on the heels of RILA and Accenture’s report Delivering for the New Consumer, which explores how retailers are responding to the wants of today’s retail customer, and after the release of ICSC’s study, Gen Z Shopping Behaviors Support Retail Real Estate.
Shopping Styles in the (R)Tech Age: Serving the (R)Tech Shopper is the latest report from RILA’s (R)Tech Center for Innovation, which launched in 2017 to help accelerate innovation within the retail industry.