Retail is undergoing a transformation to meet the changing demands of consumers who are seeking more than just a transactional experience. During IFA 2023 conference and expo in Berlin, Germany, Nationwide Marketing Group CEO Tom Hickman was an invited participant on a panel that discussed how retail is evolving to provide consumers with engaging and immersive experiences.

Hickman was featured alongside Lisa Lopuck, the CEO of sharegallery.com, and Bart van der Vis, of Coolblue, an ecommerce platform that serves several European markets. The panel was hosted by Michael McLaughlin, president of global retail for NielsenIQ GfK, a leading consumer intelligence brand.

Throughout the panel discussion, Hickman highlighted the importance of meeting the needs of the younger generations and emphasized that these consumers — Gen Z and Millennials — desire connection and a cultured experience. They want the option to shop online and in-store, he said, and they value the ability to choose how and where to make their purchases.

“They desire communication,” Hickman said. “You have to meet them where they are, and you have to provide them every solution they need, in order to be successful with them.”

The panel also discussed the role of brick-and-mortar stores in the new retail landscape. They emphasized the importance of providing choice, experiences, operational excellence and purpose to consumers. Hickman highlighted the need for a consistent experience across online and in-store channels, stating, “You can’t have a fantastic website with great refresh rates, and then a completely different experience when the customer shows up to look, feel and touch the product. That experience has to match what they have online.