I recently attended the GlobalShop convention at McCormick Place in Chicago. GlobalShop is a retail and restaurant trade-show that features vendors showing off new in-store concepts and displays. While a few booths caught my eye, the real winners were the lectures. I sat in on two very informative programs; Designing for Gen-Z and Fast Fashion.
Tips and tricks for setting your sights on the future included visits to trend shows and concept stores, but also looking to lifestyle trends to see into the future of retail. Lifestyle trends are changing rapidly with Generation Z coming into adulthood. These 12-22yr olds are driving change in a world where connectivity is everything. They've grown up in a world where everything has been at their fingertips since the day they were born. Transparency is key. They care about sustainability, employee treatment at the stores they purchase from, and how open companies are in the media. Food is delivered to their door at the push of a button; no human interaction necessary for instant gratification. Authenticity is everything. Gen-Z may spend 3 hours a day on YouTube, but it isn't looking at celebrities, it's to watch all-access channels of everyday people. It's applauded to be imperfect, unique, and relatable. Forget texting, they Facetime. They don't care if their make-up is perfect, they want to convey emotion, LIVE. Access to technology has lead to better education, leading to a smarter and more liberal mindset. 48% of young adults consider themselves heterosexual. Gen-Z believes that gender is fluid. They are independent and purposeful. What will all of this mean for the retail world of tomorrow?
In the mean time, today's lifestyle trends include Mindfulness, Hygge, Circularity, Sustainability, and Sharing vs. Owning. Millennials have changed our lifestyle because they value the experience over purchased goods. Ownership isn't important. Pet parenting and multigenerational households have taken over. If they do buy something, it better be handcrafted, artisanal, and Instagram-able.
Check our some amazing concept stores for retail inspiration below:
Merci, Paris | Bikini Berlin | Story, NYC
