Consumer and technologyBook Two
Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction
Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction Introduction
Introduction
Following on from the current high street crisis and the changes that people wanted to see based on a questionnaire I produced, this book will move forwards in order to show who my aimed consumer is and what they are looking for when it comes to high street shopping as well as what values they hold. This will start to build up ideas on how this market is best to be upheld and re merchandised to attract more people to shop on the local high street.
For this project my aimed targeted consumer is generation Z moving forwards in the future to the up and coming alpha generation. The reason I have chosen to focus on this generation is that they are the generation which will soon be coming forwards who will have the most disposable income for shopping. As the baby boomers begin to retire and aren’t spending money the way they used to on the high street it is time for businesses to start marketing to those who are spending more time there. Generation Z and the alpha generation are big on their values and beliefs so it is important to consider this when thinking of how best merchandise to them.
Who is my consumer?
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Who are Generation Z?
Generation Z are individuals born between 1996-2010. In order to best market to them it is important to first understand what values they hold that are important to them when shopping with a brand as I found from an article shared by McKinsey and company 65% of generation Z will learn the origin of a company before shopping with them and 80% will refuse to shop with a brand if it has been involved in a scandal. So it is important that brands can consider what the message they are sending out to their consumer is as people are becoming more aware of what they are buying into.
Digital values They are digital natives they have grown up surrounded by technology that older generations did not have the same access too. This is a big part of who generation Z are and how they access majority of their information. After looking at a variety of research surrounding how much time generation Z actually spend on social media and different technology and within this research there is two articles that stand out and average my findings. One article comes from vision critical which showed the average generation Z spend per week on different forms of technology. 15.4 hours were spent on smartphones, 10.6 hours were on computers and 13.2 hours spent watching the tv. This also found that when looking at where generation z saw themselves in the future 17% were hoping to start their own business, 46% hope to be technology experts and 34% want to progress their people management skills. These statistics show how technology is transforming the way that generation z believe their future will will be as they are the first digital generation who have always had one form or another surrounding their lifestyle. This also showed that a whopping 60% of generation z hope to change the world compared to 40% of millennials.
Consumerism values Also looking at an article from the shelf they found that they value four different things when it comes to shopping with different brands. The first is privacy as 75% will only use the location services when an app really requires this and only while the app is in use. A further 33% also worry about how brands are using their data once they have this as they do not want their personal information shared. The second is loyalty as 60% will only shop with brands they are happy to associate themselves with and once they have found a brand they like 2/3 will continue to shop with these brands for years to come. A further 65% are also influenced to continue purchasing with a brand if they have a rewards program as they will continue to shop with them in order to get the discounts or other rewards on offer.
The third is personalised as when brands send out personalised things to the consumer such as emails/items it was found that it makes 41% feel rewarded and 41% feel special which makes them more likely to return to that brand for further purchases. 54% also get exited if the content is personalised from a brand. The fourth is authenticity with 63% of generation z getting recommendations from their peers before purchasing from a brand and 79% are more likely to trust a brand/influencer if the images are unedited. As todays social media floods with edited images of models and celebrities generation z are more likely to favour the images that they can find which are untouched. This article also looked into how generation z are born connected as a rising number have access to mass amounts of technology with; 94% having use of a computer, 80% gaining their information from social media platforms, 75% say a smartphone would be their top choice in technology, 75% spend their free time online including online shopping and social media, 73% follow their favourite brands online so it is more important for brands to be utilising these platforms, and 25% have admitted to spending a minimum of 5 hours per day on their phones. These statistics show how much of an influence that social media and technology have over generation z and that as a generation they are up and coming with wanting these new technological advances therefore it is important to consider this when moving forwards and marketing to them.
Moving forwards
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Who are Generation Alpha?
After looking into generation Z it is important to understand the generation which are soon to follow in this digital footprint. Generation Alpha are those born between 2010-2025. This generation will have never known a world without technology, smartphones and social media, therefore I believe it is important when thinking about the impact technology has had on generation Z as a consumer that I also consider the way that generation alpha will also be effected.
The communications agency found that 65% of parents find that their shopping habits when it comes to a technology purchase are heavily influenced by their children who fit into the generation alpha age range. This shows the high impact that generation alpha are already having on consumer habits from such an early age. Therefore brands are already trying to gain the loyalty of these young consumers such as Fitbit who brought out a child friendly version of its popular fitness tracker named Fitbit ace as a way of having consumers as young as 6 to already be a part of the brand.
Brand values
Technology generation Looking at an article from the Huffington post they found that generation alpha will be the generation who are fully immersed in technology and will be the most technology literate generation we will have ever seen before. They will be influenced by developments in artificial intelligence and are set out to become decision makers or powerful influencers. With 2010 being the year staring the alphas this was also the year the first iPad was released, instagram was created and app was the word of the year. This information shows that technology is what generation alpha was born into and what they will always know.
Moving forwards Generation alpha have everything on demand fro entertainment, information and socialisation and I believe it is important to remember this when marketing to a technology based consumer as it is what they will be looking for when shopping for a brand. After looking into a variety of research for generation z and generation alpha I believe moving forwards to change the way that visual merchandising is done to be able to attract this consumer digital/technology based ideas could be the best way moving forwards in order to best grasp their attention. Therefore the next part of this book will look into the technological advances that are already in place within merchandising to see how this could link to my potential consumer moving forwards.
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What is visual merchandising?
What is visual merchandising? Whys it so important? These two questions are important to know moving forwards as before I can dive into what new technologies can/are being used it is important to first understand what visual merchandising is and what makes it so important to a brand. Visual merchandising is the way in which stock is displayed and advertised to a consumer in store and is important to brands as it is the first point of call you have with them while shopping. The window display of a store can be the decision between looking around the store and walking away as if it is done poorly then the consumer will have no interest in looking any further into the brand. It has the highest impact on a consumer and is usually portraying a narrative based on different seasons and events that are going on at one particular time which is why it is so important that this moves and adapts to the changes we see so not to be outdated. Within a store it can be used to carry on a journey with a customer and keep the consumer interested in the store. This aids with add on sales and is widely based on sales data to ensure that best sellers are the first thing to catch a consumers eye.
Visual merchandising and technology
As generation z and the alpha generation are so technology minded I believe moving forwards with the way I hope to change the high street it is important to consider ways of bringing this digital narrative into merchandising. In order to best understand this I believe it is important to first understand the different technologies that are beginning to bloom in this aspect of the industry. Understanding this will give a better inside into what has potentially already been tested within merchandising and what technologies have not been used to the full potential yet.
Virtual reality The use of virtual reality in fashion is interesting as companies such as Tommy Hilfiger and Dior have included virtual reality headsets in stores so that people can see the experience of the catwalk shows they produce this concept brings inclusivity into brands. This concept of viewing the catwalks in store in a virtual way like this also means that people are more likely to come into the stores rather than just watching them online.
This makes the consumer feel more like they have actually been to these catwalk shows as well as keeping them more up to date with the latest fashion trends and being able to see the clothes in 3D on the models so they have a better idea of what they will be purchasing. This idea of inclusivity in a brand is also very important when linking this back to my consumer as they are generations who stay loyal to brands they shop with so this is more likely to draw in their attention.
Interactive touch foils Interactive touch foils are also part of technology which could be better utilised within the high street for visual merchandising. Interactive touch foils can be added to glass such as a front window display which makes it interactive for the consumers walking pas or coming into store. This would bring more attention to stores as generation z and the alphas would be interested in this kind of technological development. Using something like this would give a boost that the high street could be missing as changes have to be made in order for change to happen.
Interactive mirrors
Based on the previous questionnaire results that I gathered (found in book 1) there was a desire for change when it came to fitting rooms. Looking at technologies which can be used in this kind of format I found mirror vision display. This allows for interactive mirrors which can be used on shop floors or in the changing rooms. This concept allows for a brand to be interacting with the consumer throughout the entire shopping experience. This could be used to alert consumers of offers or to join different events that brands may be holding as well as showing off new ranges and seasonal changes. I think this would be a great way of interacting with generation z and the alphas as they would be quick to understand and want to see this kind of technology change in stores for themselves.
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Conclusion
In conclusion thinking about technologies in merchandising will be important while progressing this module as it is such a big part of my consumer and what they are grown up on and how they obtain most information that they establish. Moving forwards this is crucial as I begin to look into the lingerie industry and what is causing a decline. In order to do this the research on my consumer will be a key aspect in what I find around this aspect of merchandising as they are who it will be marketed to, it is important to see if lingerie brands are already trying to capture the eye and loyalty of generation z and the alphas.
Read book 3 for more information
Book Two/Four