Gen Z travel retail workshop to take place ahead of TFWA Cannes

By Simon Warburton |

GenZ RedY

The GenZ RedY workshop will take place on Sunday 1 October.

Blueprint and m1nd-set have teamed up to deliver a workshop for travel retail stakeholders on Generation Z consumers on Sunday 1 October in Cannes, ahead of the TFWA World Exhibition and Conference.

The GenZ RedY workshop will see the Copenhagen-based business development agency and Swiss industry research group share insights and exclusive data to help participants gain a better understanding of the Gen Z consumer segment.

“The workshop will provide exceptional insights and facilitate debates on how Gen Z consumers will shape travel retail shopping in the coming years,” said m1nd-set owner and CEO, Peter Mohn.

“Each participant will receive exclusive Gen Z data as part of the package.”

Blueprint partner, Karl Walter added: “We already know from our research that Gen Z, those aged between 18 and 24, make up 9% of all travellers.

“That is, in fact, a smaller share than seniors, millennials, or the middle aged. However, we need to get to know this generation because they will outnumber millennials as the largest global airline passenger group by 2028.”

Gen Z consumers have the lowest conversion rate of all age groups

GenZ RedY research indicates both Gen Z and millennials under-shop in duty free, relative to their numbers, possibly because they are not finding what they want in stores.

“Duty-free retailers are mainly reliant on the middle-aged segment for sales, but that group will not be dominant in the future,” said Mohn.

“And, right now, Gen Z consumers have, by far, the lowest conversion rate of all age groups, which is a significant concern.”

According to GenZ RedY, the top product segments sought out by Gen Zs are food and vitamins, electronics and chocolate/confectionery, with tobacco also surprisingly high up the list.

“Some traditional duty-free categories are not a priority for this segment and we will discuss this at the workshop,” added Mohn.

Peter Mohn and Karl Walter

Peter Mohn , CEO and Owner, m1nd-set and Karl Walter, Partner, Blueprint.

The workshop will also delve deeper into the desires of Gen Z consumers by segmenting them based on their shopping behaviour.

Three key areas have been identified: Rational Pre-Planners, Price Sensitive Shopping Lovers and Local Touch Seekers.

“The shares of these groups have changed since pre-Covid and we will examine the direction of travel when it comes to deciding which segments to focus on,” said Mohn.

Another finding is despite being an overall highly online-connected group, Gen Z consumers are far less attentive to duty-free shopping touch points, compared to millennials and the middle aged. Only seniors have less exposure to those touch points.

Gen Z workshop to bring “clarity and insight”

The GenZ RedY workshop will round off with a Q&A session debating useful tips and ideas on how the travel retail industry can capitalise on behaviour traits and wants of Gen Z shoppers along with their perspectives on sustainability, digitalisation and experiential retail.

“We believe this workshop brings the clarity and inspiring insights the industry needs right now to prepare for this growing, but often misunderstood, group of travellers,” said Walter.

The GenZ RedY Consumer Workshop is taking place on Sunday 1 October from 2:30pm to 5.30pm at Hôtel Barrière Le Majestic Cannes.

Tickets to the event cost €200 and can be bought online until 25 September here: https://www.eventbrite.com/e/genz-redy-insights-workshop-tickets

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