Just days into the new year, consumers are already planning how they’ll shop in 2020. And one thing’s for sure, physical interactions with products still play a major role in purchasing decisions: the overwhelming majority (82 percent) of consumers say that seeing, holding or demoing a product in-person makes them more inclined to actually purchase at the counter.
Shopping rewards app Shopkick surveyed more than 16,000 consumers across the country to gain insights into 2020 shopping habits. The leading shopping rewards app looked at purchasing behavior, the use of mobile, brand loyalty and more. The results are eye-opening.
This year, Gen Z won’t be the only ones putting their dollars where their values are. Seventy-three percent of consumers across generations plan to shop more frequently at retailers that align with their core values, with 64 percent planning to spend more money at those retailers.
2020 trends include:
Boomers and Gen Zers lead the in-store charge by planning to do the majority of their 2020 shopping in physical retailers (67 percent and 61 percent, respectively), with Gen X (59 percent) and Millennials (57 percent) close behind.
Despite popular belief, boomers lead the pack in planning to shop more frequently at retailers that align with their core values (75 percent), followed closely by Gen X (72 percent), Millennials (70 percent) and Gen Z (68 percent). However, younger consumers are more likely to feel a sense of loyalty to brands. Sixty-four percent of Gen Z report feeling a sense of brand loyalty compared to 47 percent of Boomers.
More mobile moments
Eighty-eight percent of shoppers plan to use their mobile devices while shopping in-store, with consumers reporting they’ll do so most often to find deals and coupons or to price compare. And with more and more mobile capabilities, 50 percent of consumers plan to use their mobile devices in-store more frequently in 2020.
Staying out of debt
Half of consumers (50 percent) plan to make the majority of their purchases with debit cards in the new year. Credit cards come in second at 27 percent, followed by cash (15 percent), app-based payment methods (6 percent) and gift cards (2 percent). However, Gen Z is the only generation planning to pay more often with cash over credit (29 percent and 15 percent, respectively).
Pay now, not later
While more retailers are offering installment plans or pay-later options, the clear majority of shoppers don’t plan to actually use them (83 percent and 87 percent, respectively).
Shop your feed
Most consumers don’t plan to shop on social platforms in the new year, but for those who do, Facebook is the most popular platform, according to Millennials, Gen X and Boomers (26 percent, 26 percent and 29 percent, respectively). Meanwhile, Gen Z is the only generation more likely to shop on Instagram (20 percent).
“We’re continuing to gain valuable insights into how Americans’ shopping habits are changing, and 2020 will be a defining year for the types of brands that will thrive in this new era of consumerism,” said David Fisch, general manager of Shopkick, in a news release. “Consumers are more informed than ever before, resulting in very deliberate shopping decisions at retailers that can meet and exceed their expectations.”
Shopkick conducted a survey of 16,721 users to gain insights into mall shopping frequency and habits. The survey was conducted between Dec. 6 and Dec. 12, 2019.