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Gen Z Has $829B in Buying Power and Retailers Aren’t Ready for Them

When it’s deliver-or-die, supply chains become the lifeblood of a company. To that end, the fashion industry has embraced technology to navigate today’s hyper-complicated supply chain, with myriad solutions shaping the first, middle and last mile. Call it Sourcing 2.0.

Sure, many companies may have done the requisite Gen Z training, read the whitepaper on what they want, but many are still missing the mark.

Gen Z, the group of incoming consumers currently between the ages of 13 and 21, is the connected generation. They are spending more than five hours on their phones every day and $829 billion is already being spent on this generation in the U.S. alone.

What’s more, two billion of them will become consumers very quickly, according to Chris Wong, VP of strategy and ecosystem for IBM Global Consumer Industry.

Read more at Sourcing Journal.

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