How understanding the digital divide between Baby Boomers and Generation Z can shape the industry’s future

Retailers must quickly adapt to fast-changing consumer demands Technology has always redefined retail; but now, what is being called the ‘Fourth Industrial Revolution’ promises the fastest and most turbulent digital disruption ever seen. It is leaving retailers with a stark choice: Innovate and transform or become another big name consigned to retail history. Differing generational demands and habits have always caused problems for retailers seeking to adapt and change, but these are now exacerbated by the new digital expectations of consumers. There’s no such thing as a one-size-fits-all approach. How do  you satisfy those for whom the internet, smartphones and tablets are second nature while holding on to bricks and mortar loyalty from customers who don’t as regularly engage with technology or understand it as deeply? Then there is the question of when to deploy the latest digital revolutions. Understanding when to push the button to stay ahead of the curve and your competitors is crucial. But understanding WHY is even more important. It must be set against a moment that is meaningful for your business; rather than rushing it through to match what others are doing, without first concentrating on what is right for your company, your customers, your suppliers and your employees.