Generation Alpha (today’s under 5 years old expected to become 19% of the Australian population in 2034) may be decades away from swiping their own credit cards at checkout, but that’s not stopping big box food retailers like Woolworths from planning well ahead and making some educated guesses on consumer needs.
The detailed 16-page report is posted on research and strategy company McCrindle’s blog. Based on research conducted in July 2014, the report lays out some key planning points for the mega retailer and paints a picture of some of the trends we can expect to see rolling out in the retailer’s strategy over the coming decades.
Key observations include:
- an increased focus on personalizing the consumer experience using technology, so purchasing decisions are guided “based on what they like to eat, what fits their lifestyle, and what matches their dietary requirements”.
- these Gen Alpha’s will expect global flavour, exciting displays and merchandising, with convenient delivery options to suit their busy lifestyles (the research suggest their lives will be busier than previous generations).
- a continual trend in expecting tailoring availability of fresh produce as “close to production’ as possible, displayed and arranged in a retail environment which supports a “back to basics” approach in providing the ability to assemble just the right ingredients needed to cook fresh with as little waste as possible.
To achieve the above, it’s understandable the large retailer would require ample amount of consumer data to drive this individualized customer experience. Achieving a “single customer view” is the challenge and goal set by most organisations – a starting point to achieve their goals.
How will other smaller technology companies potentially partner with larger retailer such as Woolworths and other to create this purchasing environment? Or, perhaps, how will smaller more nimble companies compete by getting to market more quickly and providing a more personalized customer customer experience?
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