The Needs of Omnichannel Retail & Impact on Manufacturing - ET2C International Inc
The Millennial and Gen Z consumers continue to shift the expectation on retailers and brands. This evolution is enabled by technology and driven by an almost capricious approach to purchasing products. Buying decisions are no longer solely made based on the product, if at all, but rather on experience (78% of Millenials prefer to spend on experience over product) and online reviews. The rise of influencers and Key Opinion Leaders (u201cKOLsu201d) further underlines the importance of peer reviews. As an example, and perhaps extreme, Becky Li, who has a mere 7.5m followers sold 100 minis (as in the car) in 5 minutes.
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