Copyright walesonline
Gen Z’s predicted spending power and economic influence has the potential to have powered an evolution of Britain’s high streets by 2050. According to new research from American Express, under the sway of Gen Z (today aged up to 28), high streets of the future could be transformed into vibrant social hubs with immersive shopping and AI-powered technology driving new retail experiences. For the generation that has grown up as digital natives, the in-depth research revealed about two thirds (65%) of Gen Z shoppers say every high street visit should deliver something they can’t get online. Four in five (79%) want future retail destinations to offer far greater experiences than just shopping - demanding more dining, drinking and leisure spaces than today. Three-fifths (59%) treat shopping as a full “day out” - building meals, leisure and culture into every trip. By contrast, under a third of Baby Boomers (30%) share this view, highlighting a generational shift set to redefine Britain’s high streets. The Retail 2050 research, conducted in partnership with futures consultancy Trajectory, reveals that AI is set to accelerate this evolution, with three-quarters of Gen Z (76%) believing retailers should use the technology to create more immersive stores. Three-fifths (60%) say they would be more likely to visit shops offering tech-led experiences - from digital try-ons (where augmented reality lets shoppers see how clothes or accessories would look on them), to AI-generated personalised styling suggestions. And the appetite goes further: more than eight in ten (83%) would welcome hyper-personalised rewards and recommendations powered by AI, based on past purchases. Frictionless retail is also a priority for Gen Z shoppers, with mobile and self-checkout, speedy kerbside pick-ups and in-store digital guides ranked as important. In the future, two thirds (65%) expect their purchases to be delivered by drone, while a similar proportion (67%) anticipate travelling to shops in driverless cars. For Gen Z, experiences are not an add-on – they are the expectation, according to the research. More than eight in ten (82%) want regular rotations of pop-ups and new venues that keep high streets vibrant; almost two thirds (64%) want spaces that feature cultural activities, galleries or theatres. Taken together, the insights highlight that Gen Z expect shopping to be both immersive and entertaining, as well as quicker and more convenient than today. Dan Edelman, UK General Manager, Merchant Services at American Express, said: “There’s a misconception that Gen Z are turning away from in-person shopping. In fact, they’re reinventing it. “While retail has always evolved in response to changing consumer demands, our research shows Gen Z’s rising spending power means this generation is driving the transformation of the high street in dynamic and stimulating ways.” Paul Flatters, CEO at futures consultancy Trajectory, said: “We’re on the cusp of the high street being reborn as a living stage for everyday life. “Picture streets where shopping flows seamlessly into co-working studios, rooftop gardens, tasting kitchens and wellness hubs. “Think neighbourhoods that feel more like year-round festivals than retail strips - alive with weekly markets, cultural pop-ups and experiences you simply can’t get online. By 2050, the high street will be less about transactions and more about discovery, connection and belonging.”
