Expect the unexpected with Millennial shoppers

  • Property
  • February 22, 2016
  • Elly Strang
Expect the unexpected with Millennial shoppers

Retailers are wrapping their heads around the current crop of Millennials, but JLL is predicting even more disruption caused by an up-and-coming generation born in the year 2000.

According to Statistics New Zealand, there were 56,605 births in 2000 out of a total population of 3.8 million. Another 55,799 people were born in 2001 and 54,021 in 2002.

As this generation begins to harness their spending power – or often, their parents – it’s predicted they’ll have a massive impact on retail through their spending habits.

“They’ll be very different from any generation that’s gone before,” JLL UK’s head of retail and leisure Tim Vallance says.

“Their retail behaviour, which I think could be best summed up as ‘promiscuous’, could be the greatest disruption to real estate yet – far greater than the technological revolution we’ve seen over the last 10 years.”

According to JLL’s research, some of the attributes they’ll have that are unlike previous generations include being unlikely to save for their own home and working whenever and where ever the want.

They’ll also prefer spending money visceral experiences and unique entertainment, rather than traditional material goods.

Since they’ve grown up with so much choice in the marketplace via the world wide web, they’re less likely to be loyal to certain brands.

This all boils down to them having higher disposable incomes, but being less compelled to spend it.

Vallance says it won’t pay for retailers to underestimate their indifference to retail traditions or tendency for retail promiscuity.

“If I had to make any predictions of what they’ll want, I’d say a variety of smaller niche shops in authentic places where they can eat a variety of foods, drink coffee, and hang out with their gadgets, as well as their friends and colleagues,” he says.

“And if they need to use any workspaces, they want them to be nearby so that their leisure and working lives are seamless.”

JLL New Zealand national director of retail sales and leasing Chris Beasleigh says one of the key trends being driven by this generation is the growing percentage of food and beverage space in shopping centres.

“People want to have a different experience when they go to a shopping centre, with bars, restaurants, cool brands, they’re looking for a day out – an experience,” he says. “Retailers and landlords have to be aware of that.”

He says New Zealand has stayed ahead of the curve and is pretty good at picking up trends for the most part.

“What’s held New Zealand back is not having international retailers that have gone into other countries, but last year we picked up Topshop, Zara and H&M.

“Having those brands as well as other shopping centres revitalising themselves like The Brickworks [at LynnMall] putting food and beverage precincts in, if we were behind we’re catching up pretty quickly.”

The key takeaway for retailers isn’t to “change your shop today”, he says, but to keep an eye on this generation and be ready to react to them.

Vallance also notes it’s also important not to lose sight of the importance of the older generations.

“It may be that we have a dual society – one group that’s mobile and driven by great experiences, and another that’s more fixed and asset-holding – now that really would be very disruptive,” he says.

​ ​

This is a community discussion forum. Comment is free but please respect our rules:

  1. Don’t be abusive or use sweary type words
  2. Don’t break the law: libel, slander and defamatory comments are forbidden
  3. Don’t resort to name-calling, mean-spiritedness, or slagging off
  4. Don’t pretend to be someone else.

If we find you doing these things, your comments will be edited without recourse and you may be asked to go away and reconsider your actions.
We respect the right to free speech and anonymous comments. Don’t abuse the privilege.


Eat my Lunch opens its first physical store

  • News
  • July 23, 2019
  • Courtney Devereux
Eat my Lunch opens its first physical store

The popular buy one give one model of Eat My Lunch has officially opened its first retail store in Auckland’s downtown Britomart. The store maintains its charity initiative, supplying a Kiwi kid lunch with every $14 spent.

Read more

InStyle names All Is For All’s Grace Stratton a ‘Badass Woman’

  • News
  • July 18, 2019
  • The Register team
InStyle names All Is For All’s Grace Stratton a ‘Badass Woman’

Grace Stratton, the 20-year-old founder of specialty ecommerce site All Is For All, has been named one of 50 global Badass Women by US glossy magazine InStyle. The list includes international celebrities like Mindy Kaling and businesspeople like Stitch Fix chief executive Katrina Lake.

Read more

Wellbeing in the workplace: Here's how its affecting your staff, and your bottom line

  • Opinion
  • July 18, 2019
  • Elly Strang
Wellbeing in the workplace: Here's how its affecting your staff, and your bottom line

Idealog editor Elly Strang recently spoke at the Magazine Publishers Association conference about the importance of wellbeing in the workplace, and the key takeaways from Wellness Month. She shares why it shouldn't be thought of as a luxury nice-to-have, like yoga classes, as research is showing it impacts on your bottom line, as well as some tips on how to create change in the workplace.

Read more

Social scoreboard

Zavy and The Register have worked together to create a scoreboard that compares how the top 25 traditional media advertising spenders in New Zealand have performed on social media over the past 30 days, updated in real time.

Regional rollercoaster
What does retail look like in 2019 for ...
Concept to closet
Business coverage of New Zealand Fashion Week.
Town centres
A positive retail environment over the past 12 ...
Amazon Arrival
Keeping up with all things Amazon as it ...
The Retail Yearbook 2017
As we battle our way through the busiest ...
Hospitality enhancing retail
Some think food and integrated hospitality offerings will ...
The future is bright
We spoke with four retailers in their twenties ...
Spotlight on signage
At first glance, the humble in-store sign might ...
Red Awards 2016
The Red Awards for retail interior design celebrate ...
Auckland Unitary Plan
Auckland is changing. The Unitary Plan will decide ...
How to open a store
Sarah Dunn considers what it would take to ...
All things to all people
Kiwi retailers share their omnichannel strategies.
Rising stars
Retail's top young achievers.
Delivering on your promises
The sale isn't over until your item is ...
Retail in heartland New Zealand
Retailers keep the regions pumping, but how strong ...
Women in retail help one another. We spoke ...
The changing face of retail
Shifting demographics are creating big changes in New ...
The retail yearbook
With the help of experts in the retail ...
Retail rogues
We put the spotlight on staff training. Jai ...
Here come the giants
Topshop has arrived in Auckland’s CBD, David Jones ...
From retail to e-tail
Ecommerce has become part of the way mainstream ...
Window shopping: A spotlight on social media
Sarah Dunn and Elly Strang look at how ...
Loyalty in the digital age
How are retailers maintaining loyalty? Sarah Dunn, Elly ...
The Innovators | In partnership with Spark Business
Technology is rapidly changing the retail industry as ...

How HomeAR is incorporating AR into architecture design

  • technology
  • July 18, 2019
  • Courtney Devereux
How HomeAR is incorporating AR into architecture design

Many people struggle to envision plans from simple 2D renders and floor plans, as without a designer's eye, filling in blanks from imagination isn’t the most reliable method when it comes to something as important as building a brand-new home or store. Reactar has launched an augmented reality-based platform, HomeAR, to counteract this, which allows users to see and engage with homes in a virtual way, making the very personal process more reliable.

Read more

Simon West is the new chief executive of Torpedo7

  • Who's Where
  • July 18, 2019
Simon West is the new chief executive of Torpedo7

Simon West, who has 20 years' experience leading companies like Ezibuy, has been appointed the chief executive of The Warehouse Group's outdoor retailer Torpedo7.

Read more

Bay of Plenty D2C Saltysea opens its first store

  • Design
  • July 17, 2019
  • Sarah Dunn
Bay of Plenty D2C Saltysea opens its first store

Stephanie Saxton has been selling cheeky swimsuits and ethical activewear online out of Bay of Plenty's Athenree since 2018. She's now opened Saltysea's first bricks and mortar store, the Salty Collective.

Read more
Next page
Results for
About us.

The Register provides essential industry news and intelligence, updated daily. And the digital newsletter delivers the latest news to your inbox twice a week — for free!

©2009–2015 Tangible Media. All rights reserved.
Use of this site constitutes acceptance of our Privacy policy.

The Register

Content marketing/advertising? Email or call 022 639 3004

View Media Kit