Retail Shift
At the ICSC’s Fusion Conference, held this week in Hollywood, FL, speakers discussed the future of the retail industry.
From an article discussing highlights of one speaker’s presentation:
“Forced to market to an overall audience that is both older and younger, richer and more cash strapped, and tech-savvy and decidedly not, retailers must adapt their approaches, layout and store sizes to accommodate an ever-growing dichotomy, said Al Meyers, senior vice president of business development of TNS Retail Forward, Plano, TX. “Retailing will change dramatically over the coming years, and by 2015, you won’t recognized the retail industry,” Meyers said.
As they age, Baby Boomers are shifting from buying products to focusing on travel and services, Meyers noted, even as Generation Yers are beginning to buy homes and have children. But Gen Y-ers have a different attitude about what should be the start of their peak spending years.”
