Millennials are changing the way that retailers do business. Do you have what it takes to compete in 2016? Know what trends you should expect to see and make sure your business is ready to adapt.

2. As Millennials are starting to dominate the
retail world and have more spending power
than ever before, it is important that you
are fulfilling their expectations. Having
an omnichannel strategy and executing
it well is crucial in creating the shopping
experience most consumers have come to
expect. Don’t worry, we’re here to help
you understand and implement the major
trends you will see in 2016.
FUTURE OF RETAIL
THE

3. MILLENNIALS ARE
TAKING OVER

4. By 2025, Millennials will make up 75% of the global workforce?
That means that they will hold the spending power.
That also means you need to rethink the shopping experience
you are creating for your customers.
DID YOU KNOW?

5. • A seamless shopping experience across all channels
• Personalization
• Instant access to price comparisons, product information,
and peer reviews
WHAT MILLENNIALS WANT:

6. “Retailers need to be aware of the unique preferences
of the Millennial generation and create shopping
experiences that satisfy their need for trustworthy
information, personalization, and socially conscious
products and practices.”
– Bazaarvoice

7. HAVE YOU BROUGHT
YOUR BUSINESS ONLINE?

8. The first step in creating the shopping experience Millennials
expect is ensuring you have an ecommerce site that is easy to
navigate and informative.
Consumers want to see what your store carries and charges
before they make an effort to actually visit the store. It is an
additional benefit for shoppers to have the ability to purchase
merchandise online and save the trip to your store all together.
Convenience is key.
ECOMMERCE

9. “E-commerce and mobile commerce have
dramatically changed the way brands reach
customers, making it faster and easier for
consumers to make purchases on the fly while
avoiding the hassles of going to the store.”
– Hil Davis, Co-founder, J. Hilburn

10. ECOMMERCE
MOBILE
SOCIAL
STORE
OMNICHANNEL
+

11. Because Millennials are so tech-focused, it is essential your
business is easily accessible both online and offline. Make sure
you do not only have an online presence, but you are actually
maximizing it to its fullest potential!
In order to create a unified shopping experience for your
customers, you need to be up to date on the latest technology
trends so that consumers can interact with your different
channels interchangeably.
CREATE A SEAMLESS SHOPPING
EXPERIENCE ACROSS CHANNELS

12. “Millennials live two lives – one in real time and
the other in an edited virtual world. This is a
generation who experiences life through their
smartphone held on outstretched hands taking
videos to capture and share their moments on
Facebook or Instagram. For them, it’s not about
being in the moment – it’s about capturing a
moment and sharing it.
– Bob Phibbs, @TheRetailDoctor

13. PERSONALIZATION
IS KEY

14. Not only is it important to have an omnichannel presence, but it
is crucial that you are personalizing your consumer’s experience
on each channel.
Start by collecting customer data at the point of sale so that you
can personalize marketing campaigns that will drive traffic into
your store.
PERSONALIZE THE EXPERIENCE

15. “New Balance uses RICS as its recommended
POS partner in its licensed stores to capture
essential customer information that helps us
personalize the New Balance brand experience.”
– Peter Alba, Business Operations Manager, New Balance

16. MOBILE USED
FOR ECOMMERCE

17. • Smartphones are now a major shopping channel
• Use of mobile apps for shopping has doubled in the past year
• Mobile is the primary driver of web sales growth for many
online retailers
• Those who shop via mobile spend 66% more than shoppers
who buy in-store
• 14% of consumers would rather pay with mobile versus
credit card
MOBILE COMMERCE

18. Is your business mobile friendly? You should consider having a
mobile commerce solution so that you are attracting customers
that prefer mobile shopping, which will give you the opportunity
to increase sales.
By creating another channel for you to sell your inventory, you can
make the most of your merchandise and reach a wider audience.
ARE YOU MOBILE FRIENDLY?

19. “Consumers don’t care about buzzwords like
‘omni’ – what they care about is being able to
purchase the products they are looking for on
their own time, from anywhere, on any device.
– Jason Becker, CEO, RICS Software

20. SHOPPING IS NO LONGER
JUST AN IN-STORE ACTIVITY

21. Consumers are seeking out products and services and like to
be as informed as possible. 70% of consumers research online
before purchasing in-store.
If you don’t have an online presence, you are way behind the
game. They want access to all information at the touch of their
fingertips.
ONLINE RESEARCH

22. “Consumers want emails, alerts, product suggestions,
and user-generated content that they can filter and
sort according to the attributes they care about.
– Bazaarvoice

23. With Millennials now dictating the way they want to shop, you
need to make sure you are catering to their style. Having an
omnichannel presence and creating seamless, personalized
experience across each channel is now a requirement.
ARE YOU EQUIPPED FOR SUCCESS IN 2016?

24. ricssoftware.com
800.654.3123
@ricssoftware
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RICSSOFTWARE.COM
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25. resources.bazaarvoice.com/rs/bazaarvoice/images/Bazaarvoice_WP_Top5_Consumer-Driven_Trends_Retail.pdf
www.smartinsights.com/ecommerce/multichannel-retail-strategy/online-retail-trends-2016/
www.goldmansachs.com/our-thinking/pages/millennials/
www.slideshare.net/rejoiner/10-quotes-about-the-future-of-ecommerce
www.retaildoc.com/special-report-retailer-must-know-millennial-generation
SOURCES
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