February 1, 2013
Data point: When ‘Everything Is Retail,’ Millennials lead adoption
Shopping is shifting from an activity that places place in physical stores or online to a value exchange that can play out in multiple new and novel ways. Almost anything, from subway walls to television ads, can become a retail channel, thanks largely to mobile technology. In researching this trend, dubbed Everything Is Retail in our 10 Trends for 2013 report, we found that consumers are generally open to these new channels.
Not surprisingly, older generations are more hesitant to embrace new retail channels, while mobile-friendly Millennials lead the way. The younger generation is, in most cases, more than twice as likely as Boomers to buy in new ways, like scanning QR codes or via shoppable videos. Our survey of 1,016 adults in the U.S. and U.K. also found that men are more willing to adopt these new behaviors: For instance, 53 percent said they would click links in an online video or digital magazine, compared with 38 percent of women. Our survey was conducted last November using SONAR™, JWT’s proprietary online tool.
As retail undergoes a momentous shift, brands will need to experiment to discover what resonates and how customers adjust their behaviors given an array of new options.