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Scarred by the 2008 Recession and COVID, 48% of Gen Z Frequently Shops at Discount Stores

Retail TouchPoints

That sense of unease is to be expected from a cohort shaped by both the 2008-2009 Great Recession and the COVID pandemic, and it’s had a big impact on their shopping choices: nearly half ( 48% ) say they shop the most often at discount/off-price retailers, and 25% frequently patronize dollar stores.

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Zara opens significantly upsized Liverpool ONE flagship, 
rounding off year of landmark signings

Retail Focus

The new 42,000 sq ft store is the latest example of brand investment in the destination, following a landmark year of signings that will make 2025 Liverpool ONEs biggest year for openings since it launched in 2008.

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As Gen Z Enters Prime Spending Years, Brands Sharpen Their Pitch

Retail TouchPoints

They’ve been shaped/scarred by not one but two global economic traumas — the Great Recession of 2008-2009 and the COVID pandemic — and they’ve grown up with social media playing an increasingly large (and loud) role in shaping culture, including how these consumers shop, research and purchase products and services.

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From Niche Product to Viral Sensation: How Bogg Bag Ventured into 1,800 Target Stores

Retail TouchPoints

However, this latest expansion has kickstarted a new growth trajectory for the business, which started in 2008. RTP: You’ve gone through quite a journey from when you started the business in 2008. There’s going to be a mixture of different colors, and we’re playing with some fun elements to speak to that crowd.

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Retailers can’t afford to discount the customer experience this December

Inside Retail

Confirming the cost-of-living impact on retail spending attitudes this year, the latest Westpac Bank consumer confidence monitor shows Australians are as pessimistic currently as they were at the height of the Covid-19 pandemic and the global financial crisis of 2008. An example of the importance of the experience is in restaurants.

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Target Creates Chief Guest Experience Officer Role as it Expands Senior Leadership Team

Retail TouchPoints

Target has named Cara Sylvester to the newly-created role of EVP and Chief Guest Experience Officer. She which will lead the strategic development of Target’s customer experience both in-store and online, reporting directly to CEO Brian Cornell. Brett Craig was promoted to EVP and CIO, where he will report to Sylvester.

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As Inflation Weakens Shopper Loyalty, Retailers Can Win Them Back With Data and Personalization

Retail TouchPoints

As a result, retailers need to rethink how they attract and retain customers by looking at data not just from recent months but also from the last time shoppers felt this much economic pressure — the Great Recession of 2008-2009. Delivering that experience requires significant investment in data science.