PwC's Retail and Consumer practice produces current and cutting edge video content on industry trends and marketplace opportunities to support our clients' business objectives.
Millennial parents think of others first. Often juggling full-time jobs while caring for young children, they are almost twice as likely as other consumers to use a mobile device to pay for purchases. Far more optimistic about the economy, they start shopping earlier than consumers overall—and enjoy it more (75% versus 61%).
At 86 million strong, Gen Z’s influence is indisputable in the proliferation of interactive digital content, especially mobile video. Having grown up with Snapchat and Instagram, they prefer to communicate via images—moving or otherwise—rather than words. They also use social media more than any other demographic and will react positively by sharing content when influencers promote a cause.
Shoppers told us they plan to spend 10% more this holiday season; an average of $1,121 each. And hipsters—those upwardly mobile, college-educated millennials in enclaves such as Austin, Brooklyn, Oakland, and Portland—will outspend all shoppers. They plan to spend $500 more this season than consumers overall. And a hefty third of their holiday budget will be spent on themselves.
Today’s purchase journey is a mobile quest. Anticipating an almost 25% increase in annual digital sales, retailers are boosting their investment in digital channels. Meanwhile, both digital and mobile shopping are up almost 25% over last year. From scouting products and monitoring deals to paying for products and tracking packages, shoppers are going mobile.
Pet owners—almost half of all households nationwide—will buy the likes of everlasting treat balls and cat dancers for their favorite animal companions. They will spend an average of $62 this year on Fido or Tiger or both.
Our Total Retail survey confirmed that mobile commerce continues to grow rapidly on the global stage, becoming an integral part of the overall shopping experience. Hear how US mobile commerce stacks up against an explosion of mobile growth in China and other countries.
Our 2016 Total Retail survey not only confirmed that social media is a major influencer of consumer purchasing decisions–it also told us that social media is actually a primary driver of retail transactions for many shoppers.
They have higher expectations than prior generations, value transparency, favor convenience over price, and shop via mobile more than any other group. They're millennials–aged 18-34. A very desirable consumer group for sure, but also one that brands have to work harder to attract and keep.
As online commerce expands, consumers are becoming even more demanding regarding in-store experiences. They are accustomed to accessing rich, personalized and highly useful online resources that help them shop, compare products, and share their opinions. In turn, they expect better from brick and mortar experiences.
In this episode, PwC's Mitch Roschelle sat down with Michael Bull from the Commercial Real Estate Show and explored the current trends in commercial real estate; plus PwC's Allison Stone talks to us about millennial shopping habits and what we can expect to see this holiday season.
The Finacial Time's Lindsay Whipp and PwC's Steve Barr and Matt Massina discuss how stores need to do more to capture sales.
The Finacial Time's Lindsay Whipp and PwC's Steve Barr and Matt Massina discuss why experience is on the rise.
The Finacial Time's Lindsay Whipp and PwC's Steve Barr and Matt Massina discuss how mobile is dominating the shopping experience.
The Finacial Time's Lindsay Whipp and PwC's Steve Barr and Matt Massina discuss how not all millenials are the same and there are differences amoung their shopping journeys. Also, retailers will now need to understand the demans of Gen Z, the true giditabl natives.