This highly digitalised future seems to conceal a threat that retailers should heed if they are to remain popular among Millennials. Indeed, 42% believe that stores will have disappeared entirely in 10 years’ time, having been crushed by the ubiquity of the internet.
Of course, this statistic should not be taken too literally. In the opinion of Millennials, who were born with a cyber-spoon in their mouth, the future will obviously be all about digital. This is an outlook that owes more to the world of science-fiction than a clear-headed assessment of what the future might resemble.
Moreover, the 2018 L’Observatoire Cetelem de la Consommation demonstrates that Millennials have their feet firmly on the ground, feel a sense of responsibility, are reasonable in their quest for pleasure and are just as prepared to buy quality products than they are to opt for the most attractive promotional offers. This picture is far removed from the image over 35s have of the younger generation and, more widely, the views that people have traditionally held about young people.
This positive and optimistic generation, who have an increasingly favourable opinion of the country they inhabit, could actually be a godsend for physical retailers. But this will depend on the ability of stores to take on board their expectations, to evolve and to incorporate digital technology into their business models.
Millennials “like” shops and shopping, in the social media sense. Today and even more so in the future.