Gen Z: a generation who value experience over product. They live in a world where gaming rules and the boundaries are blurred between real and digital lives. Gen Z is the tribe succeeding the millennials and preceding Generation Alpha; the gaming generation representing over 35% of consumers in 2020.
The new blended phygital reality is permeating Gen Z’s daily lives, and in-turn elevating the expectation in brand and retail experience; an experience that they still very much desire, but of course, on their terms. Digitization and hyper-reality are big culture drivers for them — especially in the creative sphere, where virtual gigs, artificial intelligence art and digital fashion are becoming increasingly relevant. Augmented reality filters continue to be one of the biggest influences on Instagram and Snapchat that bleed into retail, with Gen Z shaping and sharing their own otherworldly lives. Read more…..
Considering how you can add digital experiences in your business? Talk to the people who understand AR and other CX technologies. Talk to Beyond Retail.
No one would deny that the face of retail is changing due to the forces of e-commerce. What we may not fully grasp yet is how that pace of change is accelerating. Is your business keeping pace? Are you tech capable? Lets talk.
In 1999, Kevin Ashton coined the term Internet of Things after witnessing inventory, logistics, and supply chain management challenges in retail. Since then, millions of global enterprises have adopted IoT and are uncovering its tremendous economic impact.
However, while most retailers see value in IoT solutions, these enterprises are largely unsure of how this technology specifically benefits business. When asked about industry adoption and the key issue being solved by IoT, greater inventory accuracy was the leading response — but only 24 percent of organizations agreed this was the case.
Facial recognition, gesture-based computing, voice-controlled homes, personalized digital surfaces — even driverless cars. What seemed futuristic just a few years ago are now part of our daily lives in the form of Facebook, iPhone X, Xbox, Amazon Echo, Google Home — and yes, even self-driving cars.
Millennials (the generation born roughly between 1980 and 2000) are emerging as a retail juggernaut. According to data from Accenture, there are around 80 million Millennials in the U.S., and they spend $600 billion annually. By 2020, the firm expects their spending to grow to 1.4 trillion and make up as much as 30 percent of total retail sales. http://bit.ly/BR2M7Wzn3