Gen XYZ and the New Retail Reality
Derwyn Harris
Talkoot CPO and Co-Founder
The gods of generation differentiation don’t agree on what separates Millennials from Gen Z, especially as it relates to buying habits. Perhaps this is because there is more overlap than there is difference in shopping behavior. Yes, millennials and Gen Z are both incredibly tech savvy with nimble fingers that move swiftly and seamlessly between Instagram, Snapchat and texting. Baby boomers and Gen X, however, are also adopting the same behaviors. The old way of treating a new generation as merely another target market, misses the more important retail revolution that is remaking the entire consumer landscape. We built Talkoot because all companies need to tell a compelling story, with personality and authenticity for every shopper.
Each of the articles we curated calls out generational differences and emphasizes how one generation over another will “change the world” or how brands must act to “stay relevant”. Ken Hughes, for instance, says that in response to Generation Z “Brands need to have a common voice, common data and common system.” But while that’s certainly true for Gen Z, it’s also now true for everyone.
Forbes: A Millennial Manifesto: Why Gen Y will change the world
“The breadth of the ‘love-to-hate-millennials’ movement has me convinced that there is a deeper discussion to be had.”
Huffington Post: 8 Key Differences between Gen Z and Millenials
“The difference between the two is important to know in order to prepare your business, shift marketing, adjust leadership, and adapt recruiting efforts to stay relevant for the future.”
Business of Fashion: Tapping Generation Z
“Many of the fundamental consumer behaviors, attitudes and values on which these brands were built have simply shifted under their feet.”
Forbes: Luxury Brands Are In Danger Of Losing American Millennials: How To Get Them Back
“American millennials trailed far behind the other markets in their purchases of high-end fashion or luxury goods.”
Retail TouchPoints: https://www.retailtouchpoints.com/features/trend-watch/want-to-reach-gen-z-learn-to-speak-phygital
“Every brand, every business needs to be ever-present in their lives at every touch point. Brands need to have a common voice, common data and common systems. This has become the expectation of the Gen Z consumer.”