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June 11th, 2018 at 8:59 am

Study: Gen Z craves ‘novelty’ and experience

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Generation Z shoppers share a love of real-world retail experiences, as long as they are augmented by technology.

Gen Z, also called the Instagram generation, lives by visuals and expects retailers to make experiences cool and aesthetic, show how products are used, and feature them in their best light. This requires their favorite brands to empower the use of mobile, the Web, and apps, according to “Gen Z Report,” from Criteo.

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According to data, this generation has significant spending power, both online and off. The amount Gen Z spends across categories is strong, particularly in consumer electronics where they spend an average of $182 online, and $125 offline over a six-month period.

Gen Z values real-world retail for experience and discovery. While 75% prefer to do as much shopping as possible online, 80% look forward to shopping in-store when they have time. The retailers that ultimately win their loyalty offer personalized experiences, limited-edition merchandise, uncommon products, good-looking stores and authentic brand stories, according to the study.

Mobility is one technology that influences their shopping journey. In fact, Gen Z spends more time on their mobile devices than any other generation, clocking in 11 hours of mobile online access per week (not counting work and email). From TV shows and online videos to music and podcasts, Gen Z loves to watch and listen from the web. This group streams 23 hours of video content per week.

When it comes to the sources that are influencing purchase decisions, more than 50% of Gen Z indicated that retail websites and apps are more influential in the purchasing process than search, TV ads or online banner ads. Social media follows as a close second for influence.

Gen Z is also more likely to research merchandise online but buy in store, with 34% engaging in webrooming (research online, buy in-store) and 18% engaging in showrooming (see it in store, buy it online).

“Gen Z is at the forefront of the mobile commerce revolution, and represents a crucial opportunity for marketers as they develop lifelong brand loyalties,” said Jonathan Opdyke, chief strategy officer, Criteo.

“While specific shopping habits may vary, Gen Zers are native omnishoppers who like to visit stores but still prefer to take care of their shopping needs online,” he said. “In order to deliver a personalized experience on all touch-points, brands and retailers need to employ a data-driven approach to connect Gen Z customers with unique, on-trend products.”

Via Chainstorage

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