Tech Is Here to Stay (and Other Lessons)

Jennifer Polanz

Those who aren’t on board with incorporating tech into the retail experience may want to check yourself before it’s too late. In a new report by UK trends watcher The Future Laboratory, not only are the next generation of shoppers inherently plugged in, but they demand authenticity in their retail (i.e., they don’t like to be “sold” to).

“The key to winning the hearts and minds of the digitally dominant is, of course, technology,” writes Mark Sear of EMC Global Services, a partner in the report with The Future Laboratory. “Data analytics enables businesses to delve deep under the skin of the market, so they can create a truly personal message and then promote that on the right channel at the right moment.”

Another interesting note from the report? The next generation, often known as Generation Z but called Gen Viz in this report for their love of all things visual, is highly interested in food—specifically healthy cooking. According to statistics cited in the report, teenagers spend 22% of their income on food, up from 7% in 2005.

“Gen Viz will drive an 11% rise in fresh food consumption between 2013 and 2018, according to NPD Group,” the report states, quoting trends editor at youth research agency Ypulse as saying: “Food is the new status symbol for them.”

You can download the full report for free (registration required) at http://info.thefuturelaboratory.com/new-consumer-summit-report-2016. GP