Time & time again, the conversation of the generation gap has been subjected to the choices made and preferences shown. Positive or Negative still remains a matter of consistent discourse and determination. However, the younger generations (GenZ and Alpha) are significantly impacting the retail market, thanks to their arrival in a gear-headed era. If you need proof, look at your younger cousins, who seem to know everything about shopping trends.
The world is moving forward, and retailers must keep up with the times. The GenZ, or to be more particular with the nomenclature— the teens are rising to be a distinct segment in retail demanding retail brands to pay attention to their expectations. The retail landscape function per the consumer's preferential, behavioral, and digital needs.
But it is now gingerly considering the various generational persona, giving poignancy to its marketing model. With that, WGSN reports on the children’s market set to rise with a valuation of £7.3bn by 2027 in just the UK market.
The Teens & Tweens of 2023 & Beyond…
The sound of clamor from the teen market is quite loud for the retailers to identify the most empirical way of engaging teens & tweens. In response, they plunge into the crusade of identifying retail design agencies that take up the challenge of merging the digital and physical worlds of brands within a retail environment to attract and retain this valuable demographic.
Before defining, providers need to differentiate between parents and their children’s choices making it more democratic. Teens & Tweens of the new generation have astronomically transposed how and where they choose to buy, which is relatively more nuanced than the teens of the past. This presents a unique opportunity for retailers to engage with these proactive young shoppers, both online and offline, creatively.
To appeal to younger consumers, retail brands should focus on developing a clear purpose and supporting their newfound independence.
Getting Parents on Your Side
According to Marketing Professor Leon Schiffman, children often avoid shopping at stores their parents frequent and prefer more trendy options. However, since they still require their parents' assistance to make purchases, retailers must find ways to appeal to both parties by offering deals for both the mother and child or providing a unique in-store experience.
To bridge the generational gap, a virtuoso retail design consultancy advises of formulating a communication strategy inside the physical store. Winning over the younger generation can entice parents to visit the store. Despite challenging economic conditions, parents are more than willing to spend money on their children. Building a good rapport with the kids can increase spending and revenue.
Economic Accessibility
As teenagers explore and discover their personal preferences, they become more independent in purchasing decisions, free from their parent's guidance. Despite their limited income from allowances, teens still feel self-reliant. Brands are recognizing this trend by making their products more accessible to teens who are eager to purchase their desired apparel or accessories, even if it means saving up for them. Additionally, teens may visit stores with their parents, who are also seeking affordable options.
Engagement through technology
Engaging children can be a challenge, especially when their parents are shopping. As kids tire out from wandering around, retailers find creative ways to keep them occupied while still serving their customers.
For example, Claire's, a fashion brand, has partnered with UK grocer ASDA to offer their products in stores. This allows kids to have fun while their parents shop for groceries. Additionally, interactive technology like Virtual Try-ons and AR is becoming a popular addition to many stores.
The teen market is expanding with an expectation from young customers for retailers to consider them equivalent to adults in making their buying choices. So brands that cater to this demand can make it into the long haul and stay resilient in the enduring economy.
