How will global retail brands stay relevant in 2020?
The ‘Roaring Twenties’ refers to the decade of the 1920s — a time of economic prosperity. Social, artistic and cultural excellence reigned, jazz blossomed, fashion changed and women got the vote. We’re hopeful for a similarly transformative decade, but with many retailers closing in 2019, how can we ensure relevance?
The 15 global FITCH studios collaborated to unpack best-in-class retailers and what it could all mean for retailers in 2020. We’re pleased to present this summary of our findings.
The dominant target markets Millennials and Gen Z are the most technically savvy, environmentally conscious, and emotionally engaged consumers in history. They’re also scrutinising, desensitised, and highly critical. Attracting them is hard, connecting with them is complicated and driving loyalty feels almost impossible. Understanding and flowing with their changeable audiences is how retailers can truly win.
2019 retail winners are here because they managed to connect with this audience, stay culturally relevant and stand out for the right reasons. Our report shines a light on what this means for retail in 2020.
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