Over the last two years, large numbers of young Americans have graduated from high school and joined the workforce to make their own money. However, the world they walked into was vastly different from anything previous generations had encountered.
The way we make and spend money in the United States will never return to pre-pandemic levels. For many Gen Zs, however, this new normal is just normal!
It’s easy to assume that Gen Z experiences will be similar to those of millennials, but the more data we collect on Gen Zs, the more we realize how truly unique they are.
Here are some fascinating statistics about Generation Z and their online shopping habits:
65% have purchased something based on the recommendations of an influencer.
25% have even boycotted popular brands.
75% have taken some form of action in support of a cause they believe in.
What do Gen Z shoppers truly desire?
Make it personal and social.
Retailers who allow their customers to tailor and customize their products have already recognised the seemingly obvious concept that a product performs well if it appeals to the personal tastes of an individual consumer.
Items purchased by Gen Zs must tell a story and fit into their lifestyle. According to a recent KPMG survey, 75% of consumers expect a variety of products and offers that appeal to their personal preferences. Brands that communicate this personalized touch in their products are also preferred by Gen Z and millennial consumers, and brands that do so typically gain customer loyalty.
Convey your message through conversations
Customers expect a shift in communication that deviates from the standard search, discover, buy routine, in addition to customizing the purchase journey.
Voice recognition, for example, is a key technology that is transforming the retail landscape. This technology listens to the preferences of consumers and allows them to converse, resulting in a stronger bond and sense of affinity between the brand and the consumer.
When voice recognition technology is integrated into home AI systems, it performs optimally. In the last year, nearly one in every five US consumers purchased a product using a voice-controlled device, and the figure is even higher among millennials.
Waiting is not something that Generation Z enjoys. The shopping experience, whether online or in-store, must be as quick as possible. Indeed, a previous Walker Sands survey found that nearly half (49 percent) of those polled said they’d shop more online if same-day shipping was more frequently available.
Furthermore, more than half of shoppers would choose to buy from a competitor if they offered more convenient delivery options. Because Gen Z consumers have a lower brand affinity for retailers and products in general, they can and will readily substitute products if the alternative arrives sooner.