The “New Consumer” is generating a lot of buzz in the retail community, but who exactly are they talking about? The term is being used to describe a range of changing consumer behaviors that are the result of several trends colliding:

• Generation Y (ages 10-27) is beginning to drive retail trends
• Social media has become integral to social interaction
• The Internet is the starting and ending point for most purchases

Gen Yers are becoming influential because of their numbers (they are the offspring of Baby Boomers) and their ages (teens and twenty-somethings have incredible buying power).  Because of their emerging leadership position, nearly everything they want or purchase becomes fashionable.

Gen Yers are quick adopters of technology and have made the Internet and social media a way of life. They are more likely to text someone than to call them; they use social media such as Facebook and Twitter more than email; and they spend much more time surfing the Internet than watching TV, according to Forrester’s report, “Building Gen Y’s Multichannel Media Profile.”

Many consumers now use the Internet for virtually every purchase. They research products online, often using blogs and forums for additional product information or reviews. They use the Internet to purchase products they will pick up at a brick-and-mortar store (including QSRs). And whether consumers like the product or not, many are eager to post their opinion online, influencing thousands of peers in minutes.

This different way of communicating and socializing is creating some New Consumer needs and eliminating others. It is also changing the retail game when it comes to marketing to these New Consumers. How do you respond to this changing environment? Localizing your store messaging based upon store-specific profiles is one way to speak to New Consumers.

In my next blog, I will explore some ideas about responding to New Consumers.