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Page 14 AUGUST 2017 | RETAILERS FORUM MAGAZINE

For Late-Breaking Industry News Visit: www.retailersforum.com

If It Affects Retailing We Report On It!

Generation Z and The Future of Retailing

THE group born between the mid-90's and early 2000's is known as Generation Z and they have

a major impact on spending in the United states. Unfortunately traditional retailers that serve teens

have been struggling with closings, slowed sales and bankruptcies. But the fact is that over 65% of

these Z'ers do most of their shopping in-store with the balance doing some of it in person.

ONE of the biggest problems for retailers is lack of excitement and trendy product at their stores.

Many retail stores have been around a long time and fail to reinvent themselves to entice the next

generation into visiting to shop. Marketing to the new generation requires social engagement. This

generation values uniqueness which has made many independent stores more successful than

traditional chain stores.

NIKE has capitalized on their creativeness by allowing shoppers to create their own shoes. And

more recently after holding out on selling on Amazon they now do. It's all about getting with the times.

THIS group of shoppers also was raised in a recession so they are very money-savvy and looking

for good value when they shop. They also want to mix and match merchandise for a consistently new

look. Thus why H&M and Zara stores do so well marketing to them. We all need to take notes on the big

retailers who are successfully marketing to these shoppers and institute some of their ideas that are

working well.

ALL of the recent studies are showing that Gen Z'ers look at many items online but want to touch

and feel the goods and end up going in-store to make their purchases. This is a BIG difference between

them and millennials and we as retailers need to take advantage of this. It is very encouraging that this

demographic is visiting retail stores and it is our responsibility to stock what they are looking for if we

are to be successful and remain in business.

Target Reinvents Itself - Again!

SOME critics say that Target had fallen behind the changes in retailing and Target took notice and

has invested in reinventing itself in two categories: Apparel and Home Goods. Target will launch four

new brands to hit their stores this fall.

BY creating new and exciting exclusive nameplates they are hoping to emulate the success they

had with kids clothing brand Cat & Jack's that grew spending in-store by over 50%. The new lines they

are introducing will be modern home merchandise brand, Project 62 in addition to new lines of clothing

for men and women that will be fashion forward.

ADDITIONALLY they are making changes to the physical store layouts and designs, refurbishing

the units and giving them more of a "boutique" feel. With the new brands they will distance themselves

from discounts and promotions as well. Will be interesting to see how this plays out!

Retailing Tidbits

FOOD is big and you know that when Amazon decides to get into the fresh food market. Also under

the radar is the growth of the Hispanic food and beverage market which is estimated to hit $21 billion

by 2020, growing at around 3.8% annually. The overall sales last year in this niche market have been

$17.5 billion and growing rapidly.

FREE shipping still counts. Many online retailers are discovering abandoned shopping carts when

they add postage charges. This makes for very tight margins for those selling online goods.

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