The Retail Industry Leaders Association (RILA) and the International Council of Shopping Centers (ICSC) today released a report, “Shopping Styles in the (R)Tech Age: Serving the (R)Tech Shopper”, which defines the 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, outlined below.
In addition to identifying key components, industry leaders and considerations for retailers within each shopping style, the report explores how new trends like 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,” said Adam Siegel, senior vice president of research, innovation & sustainability. “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,” said Stephanie Cegielski, vice president 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.
ICSC serves the global retail real estate industry. We provide our 70,000+ member network in over 100 countries with invaluable resources, connections and industry insights, and actively work together to shape public policy. For more information about ICSC visit www.icsc.org.
RILA is the trade association of the world's largest and most innovative retail companies. RILA members include more than 200 retailers, product manufacturers, and service suppliers, which together account for more than $1.5 trillion in annual sales, millions of American jobs, and more than 100,000 stores, manufacturing facilities, and distribution centers domestically and abroad.