The customer behaviour of generations Y and Z has changed significantly in relation to retail in recent years. These customer groups place more emphasis on convenience, personalisation and digital technologies. They increasingly use online channels to search and buy products, but also expect a seamless omnichannel experience where online and offline channels are linked.
Retailers need to respond to these changes by using innovative technologies to personalise and enhance the shopping experience. This includes, for example, mobile payments, self-checkout, virtual reality and augmented reality. But retailers also need to focus on mobile app development to provide a seamless shopping experience for their customers and thus retain young target groups in the long term.
Furthermore, it is important to address the needs and expectations of Generation Y and Z with personalised offers and recommendations. To do this, technologies such as artificial intelligence and machine learning can be used to analyse customer profiles and buying behaviour and create personalised offers and recommendations based on this.
Generations Y and Z are the first generations to have grown up fully digital and accordingly have high expectations of the digitalisation of the shopping experience. Retailers must therefore use innovative technologies to attract and retain the attention and loyalty of these customer groups.
Generations Y and Z place great value on convenience and personalisation in their shopping experience. But they are also concerned with stimulating the senses in the long term while shopping. Going to the store is a much bigger hurdle for these generations than for others. That’s why it’s all the more important to create stimuli that fall by the wayside when shopping online.
With sound insights into the shopping behaviour of generations Y and Z, RETAIL NXT prepares retailers to think digitally about their business and prepare for the future.