Retailers worldwide are biting their nails as 2018 draws closer. Lower rates of consumer confidence, the fallout from Brexit and the ominous shadow of Amazon make it a nerve-wracking time for any retailer wanting to keep happy shoppers coming into their stores.
The Christmas period is always a crucial time for retail as sales volume tends to rise. The regular news about the situation of retail, with headlines of bankruptcy filings, store closures and footfall dropping makes the holiday season even more important for retailers as they are expecting a lot from the golden quarter.
We’ve been talking a lot about the Millennials and it’s probably the most ever studied generation. But now it’s time to focus on who’s coming next: the Generation Z comprised of people born after 2001. Yeah, it makes you realize how old you are… But despite being a bit depressing, retailers seriously need to start thinking about how they will please this new generation as they are expected to reach 2.6 billion by 2020 (1). Yes, there are a lot of them, and this huge new buying group is extremely important to retailers as it has access to $44 billion in buying power (1).