Year-old upstart Neighborhood Goods thinks so. This fall it’s unveiling an experiential department store that will rotate a mix of digitally native national and indie brands. http://bit.ly/BR2KE7ZyL
Are you ready for the group that has replaced the baby boomers as the finanacial juggernaut that will determine the style and demands of retail for the next 10 years?
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.
As retailers search for the new technology that will give them that edge in customer engagement, its important we understand the new role of the store sales assistant and how critical they are to a successful impementation of any new tech. This is agreat article on this changing role.
In an IBM commercial from 2006, a shadowy man in a trenchcoat combs the aisles of a local supermarket, stuffs products in his pockets, before a security guard catches up with him as he attempts to leave the store.
It is assumed this guy is a shoplifter — that is until he reaches into his coat and mysteriously retrieves a receipt for all of his items.
Twelve years ago, such a shopping experience seemed like pure fantasy, and it was — the ad was part of a campaign imagining the future of retail with RFID technology.
Now, Amazon Go has made it a reality — minus the need for a paper receipt.
New office spaces are adding retail elements and partnerships. But do people really want to shop for jeans at work? A host of startups are banking on “yes.” http://bit.ly/BR2IFS2pW
In retail, it’s important to create a smooth shopping experience for the consumer, who may well see shopping as a way to escape whatever stresses and hassles they’re experiencing in their daily life. Or, alternatively, dread the prospect of trawling around shops and appreciate anything that makes it a headache-free process for them . http://bit.ly/BR2mB66Zp