1、Millennials and Gen Z are remaking the industry but wont always break from tradition.By Liz Lippert,Lisa Koetter,Aaron Cheris,and Jochen HeckFour Ways Younger Shoppers Will (and Wont)Change RetailCopyright 2023 Bain&Company,Inc.All rights reserved.1Four Ways Younger Shoppers Will(and Wont)Change Ret

2、ailGoogle|Bain&Company,Inc.At a Glance Bain&Company and Google surveyed nearly 5,800 US consumers to gauge how retail is likely to change as millennials and Gen Z shoppers become more economically dominant.Our research shows they will continue to shop via many channels but wont reject physical store

3、s,even as their appetite for tech-enabled innovations,such as virtual try-on,grows.The influence of trusted advisers on video platforms and social media is set to increase,as is the importance of sustainabilityassuming retailers help shoppers bridge a“say-do”gap by making sustainable products perfor

4、m well on other key purchase criteria.Millennials and Generation Z are poised to become ever more powerful in retail.These generations mostly teens,twentysomethings,and thirtysomethings todayrepresent more than 40%of the US population.Executive teams across the industry know that they will have to k

5、eep tailoring their businesses to the evolving behavior of these demographic groups.But just how much are millennials and Gen Z likely to differ from older generations over the next few years?Thats the focus of new research from Bain&Company and Google.We surveyed nearly 5,800 US consumers of all ag

6、es to gauge how millennial and Gen Z shopping is likely to develop relative to that of older peers,examining shopping experiences and sources of influence across channels,product categories,and emerging media.Our analysis highlights ways in which these maturing cohorts will shape tomorrows industry,