2020 Macro Trend: Gen You

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Customers want personalization and it’s impacting the bottom line. Eight out of ten consumers are more likely to purchase from a brand that provides personalized experiences — and according to Gartner, organizations that fully invest in online personalization will outsell those that haven’t by more than 30%.

Despite the continued debate over whether DNA testing can accurately and conclusively recommend diets, fitness plans, and skincare routines, direct-to-consumer genetic services are paving the way for a hyper-personalized lifestyle. As testing kits become more advanced and speedy, offerings will likely expand into new territories that add value to the consumer.

While there’s still a long way to go, Gen Z consumers are the most open-minded generation to date and they have come to expect diversity in every way. As society moves towards a more inclusive future, brands are rethinking preconceived stereotypes surrounding age, size, identity, and disabilities. Gender norms are being re-evaluated and beauty brands, once exclusively marketed to girls and women, are rethinking their audience.

Technology is paving the way for a reimagined retail experience. A new frontier of tech-enabled assistance and deep learning technology will anticipate consumers’ preferences and curate a shopping experience accordingly. Immersive retail has reached new heights for the next generation of shoppers. Luxury labels like Gucci and Louis Vuitton are heavily investing in e-sports with retro-style video games. Chanel’s pop-up arcade catered to young consumers’ penchant for unattended retail channels like vending machines and kiosks.

MICRO TRENDS

  1. Geno(ME)

2. Design for All

3. Mass Personalization

4. Power of Play

BY THE NUMBERS

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