The good news about modern digital customers, particularly younger ones, is their consistent willingness to try new things, such as new stores and new delivery experiences. Novelty has a good deal of power for consumers constantly connected to a wide variety of commerce channels. And, as 4G is giving way to 5G, those connection points are going to proliferate, creating a host of new changes to hook consumers. The challenge is that for all the changes to recruit new customers, there is also a host of new channels that may take existing customers.
Data:
$3.5 billion: Value of the deal between T-Mobile and Nokia to give T-Mobile “end-to-end” 5G access.
30 percent: Share of bridge millennial consumers reporting having switched to or tried a new retailer in the last month.
24 percent: Share of customers who wish to have their grocery orders shipped to their homes.
19 percent: Share of consumers who have switched grocery retailers in the last three months.
2 percent: Share of J.Crew’s total collection available for sale on Amazon.
Source: PYMNTS
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