Retailers are under pressure to revise the way they do business as a new generation of consumers emerges.
A report on The Age online describes the new “iPod generation” as consumers who value the shopping experience - they don’t want to be sold products in traditional ways.
Futurist Richard Neville explains: “Almost ten per cent (of the iPod generation) are compulsive spenders, but they have a much greater understanding of how retailers are trying to influence their purchasing power and will make them work harder for a sale”.
Use technology or die
Speakers at last week’s Australian meeting of the National Retail Forum warned shopkeepers to develop “multi-channel shopping” using new technologies in order to survive.
Long-established brands, such as Nike or Levis, are suffering in the new information-driven age, as consumers seek ethical choices, the report explains. Shoppers born since the 80’s will switch brands to stay ahead of fashion, and dismiss companies who work to hard to persuade them to spend money.