Today’s students are part of the first generation of true digital natives: Gen Z. They don’t remember a time before the internet, and this means they’ve grown up with access to a whole world of retail options thanks to the rise of ecommerce. In a time of “peak choice,” it’s increasingly difficult for traditional brick-and-mortar stores to attract young consumers.
Our 2018 Student Shopping Report reveals the latest retail trends. It shows that while students love the convenience of shopping online, they still see many benefits to visiting physical stores. They love to see products in person and shopping remains a popular social activity. We’ve been monitoring Gen Z shopping trends. Here are five ways that physical retail brands have innovated to keep Gen Z coming back for more.
Concept store
Stores are no longer just functional spaces: visiting them should be an experience. A concept store enables a brand to convey its distinct identity and makes the store an attraction in itself. Concept stores are trending in retail right now and are popping up in cities around the world. Examples include Apple’s Town Square, American Eagle’s AE Studio and the brand new Nike Live in LA.
In-store events
Experiential is a buzzword in marketing at the moment, but in most cases, it’s simply a more ‘2020’ way of talking about branded events. In-store shopping experiences are a way to attract new customers to visit the store for the first time, or to reward existing customers with special treats and offers.
Retail tech
Many stores have implemented futuristic new technology to appeal to digital natives and improve their in-store shopping experiences, such as personalisation kiosks, interactive mirrors and Bluetooth beacons. Brands already offering these innovations include Macy’s, Adidas and Rebecca Minkoff.
In-store exclusives
It’s still possible to attract queues of customers desperate to be first to get their hands on limited-edition lines or items expected to sell out. Celebrity products such as Rihanna’s Fenty Beauty and Kanye West’s Yeezy are among the brands that Gen Z will do whatever it takes to own.
Pop-ups
Scarcity is key to creating demand yet again with the pop-up store. This trend enables smaller independent brands, such as ecommerce stores, to experiment with physical retail with minimal risk. Pop-ups are a hot retail trend and they’re appearing in malls, shopping streets and other areas frequented by young consumers.
Is your brand looking to engage the student market? Get in touch to find out how Student Beans can support your in-store marketing strategy to attract more student footfall.
