This month saw a new research report on retailing come from France. This report talked about the 7 new tendencies of consumers and how retailers should react to them.
The 7 tendencies are:
- Consumers are looking for luxury and a bargain in the same store
- Retailers should not ignore the older consumer and develop intergenerational marketing strategies.
- Connect with people using face to face and virtual communications. The report suggests retailers should look at how the top hotels communicate with the consumer.
- We leave in an “urban society”. Business space now needs to include public/private/work and home. Being a destination in the country will become more of a challenge.
- Consumers are in a sharing economy, living better with less. Car sharing and free bikes in cities are an example of this.
- We live in a world where consumers want to live together in multi racial communities. This month I have just been working in Katanning that is the home of 51 nations.
- Retailers should develop a fun culture with their customers.
An interesting tendency in this list is that Pollen Consultancy believe the older generation are now being neglected by retailers and this needs to be addressed.