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There is a common myth that having young people hanging out in stores is detrimental to sales. Some retailers respond to this myth by establishing rules such as age-based curfew and insisting on parental escort. This research briefing looks at the reality behind this myth and how retailers can actually increase their retail space efficience by involving youth in the process. Specifically, the briefing answers these three questions:
1. What is the direct and indirect impact of youth on sales?
2. How can retailers use peer recommendation to increase youth revenue?
3. How can turning retail space into social space benefit retailers?
* chart - Younger generations bigger per trip spender
* chart - Younger generations spend more
* chart - Youth lead the discovery process
* chart - Youth are most influenced by peer recommendation
* chart - Youth prefer face-to-face communication
* chart - Shoppers use smartphones in-store to involve friends in the shopping experience
* case study - Apple Store: retail space as social space pays off
Download the full retail briefing here: http://www.youthresearchstore.com/products/briefing-youth-retail-insight