Monthly Newsletter | March & April 2018
S-CUBE Fixtures What's In Store this month

Table of Contents

Millennials Engage With Brands Differently.
How likely are younger consumers to pay with their phones? VERY, experts say.
S-CUBE Featured in Winners Book.
Successful Store Planning, a Guide For Retail Owners.


 


Study Finds Millennial Parents Shop Differently
Than Those From Other Generations.


 

“The millennial generation has at turns confounded, inspired and challenged researchers and analysts with their spending habits,” NRF Director of Retail and Consumer Insights Katherine Cullen said. “As many millennials move into parenthood, we are beginning to see how their expectations and shopping preferences compare with those of previous generations. Whether it’s using a subscription service to make sure diapers don’t run out or going online to research the best crib or car seat, millennials shop differently than other parents.”

Born between 1981-1994, millennials are parents to 50% of today’s children, and more than 1 million millennial women become new mothers each year.

Millennial parents differ from other parents in their lifestyle and shopping choices. According to the report, 40% hold a graduate degree, and 69% earn more than the national median income of $59,000 a year. 80% of millennials with children are in their 30s.

Millennial parents turn to their smartphones at every point during the shopping journey. The study found 78% use phones to research products, 75% to check prices or availability, and 71% to pay at checkout or place an order. In addition, 71% will leave a review, process a return or chat with customer service after purchasing.

Millennial parents are often in a hurry, and 86% have used same-day shipping compared with just 67% of parents from other generations. Subscription services – which can supply automatic refills and discounted prices on items such as diapers, formula and baby wipes – are used by 40%.

“To keep parents of any generation happy, brands and retailers must deliver on both price and quality,” Cullen said. “But millennials are very concerned about good customer services and are twice as likely to back out of a purchase for lack of it. For millennials, service ranks ahead of convenience, selection and loyalty programs.”

Millennial parents say where they shop matters, with 44% only shopping at brands that reflect their social or political values. Once a brand gains the loyalty of millennial parents, they are much more likely to stick with it. And 52% will remain loyal despite more convenient options.

Source: https://nrf.com/media/press-releases/nrf-study-finds-millennial-parents-shop-differently-those-other-generations

 

Google Express for fast home delivery

Millennial on smart phone

 
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What Does the Future of In-store Payments Look Like?


 

Payments — currencies, platforms, programs and systems — are ripe for change and thanks to technology, at a tipping point. New generations, both millennials and Gen Z, are driving this shift and merchant systems that don't accept mobile wallets could suffer the consequences as spending shifts to those that do.

For Sandrine Deveaux, managing director of store of the future at Farfetch, these statistics speak to four themes to consider from the customer standpoint: experience, personalization, ease and gratification. For Farfetch's store of the future, frictionless payments enabled by smartphones sits at the core of getting those four things right.

Almost 2.1 billion consumers worldwide are expected to use mobile wallets for payments or money transfers by next year, representing growth of almost 30% over the 1.6 billion consumers who used mobile wallets last year, according to Juniper Research. Yet too many retailers aren't ready for the wallet-based payments that their customers will increasingly want to use.
The clear winner in scan-and-go at the moment is Apple — but Target, Walmart and Kohl's will all start to catch up, Tom Gehani, director of client strategy and research at L2 said. Generally, he added, it's the way that all big-box retailers want to go.
"A lot of conversation has been about how this will be a cost saving because of fewer cashiers," he said. "Retailers that will win are going to take labor savings and put that to other store labor, like ensuring security, that shelves are full at all given times and helping customers on the floor." 

Most major retailers are adopting scan-and-go options, but just walk out technology, facial recognition and personalization are all likely to guide the future of in-store payments.

While wave one of mobile in-store payments was scan-and-go, wave two will be all about technology that uses artificial intelligence to utilize facial recognition, body gestures and cameras to understand what is on the shelf and how product moves around in the store.

In wave three, retailers will use a combination of AI, facial recognition and the ability to recommend products off the shelf!

Is your POS ready?
Source: https://www.retaildive.com/news/payments-future/522101/

 

Future of in-store payments

 

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S-CUBE Featured in Winners Book


 

S-CUBE is featured In the Shop! Retail Environments Winners Book. Our nomination by Books-A-Million and our GlobalShop win of the Shop! Merriman Above & Beyond Award is told on page 62 of this highly anticipated annual publication.

Follow this link to the Shop!
Retail Environments digital edition library: http://www.retailenvironments-digital.org/retailenvironments
Select: Winners Book, Flip to page 62.

 

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Dustin with trophy

 
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Successful Store Planning, a Guide For Retail Owners


 

The latest S-CUBE White Paper, “Successful Store Planning” covers important topics including: Planning for Success, Defining Your Customer, First Impressions, Optimum Store Layout, Making an Impact, and Marketing.

This resource guide is available for free, along with all of our other White Papers: Driving Post-Holiday Sales, Importing Made Easy, Hidden Cost or Secret Weapon, and Experiential Retailing.

Download one or all of them now:
http://www.scubefixtures.com/whitepaper-access.aspx

 

Gain access to our white paper libarary

 

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