Generation Z approaches shopping with expectations for an efficient and independent experiences—and if their preferred shopping experience is implemented, 50 percent of Gen Zers would shop more, both online and in-store, according to new research from payments platform Adyen that explores this next generation of power shoppers and what retailers need to know as they come of age.
“Gen Zers are a unique generation of shoppers,” said Roelant Prins, chief commercial officer at Adyen, in a news release. “They are growing up in an age where information is at their fingertips, and they can find anything they want virtually as fast as they think of it. Retailers who recognize the potential of this future power shopper and their expectations for brands will be able to respond to their needs effectively and, perhaps more importantly, profitably.”
Key findings from the report include:
They want their space
- Only 7 percent of Gen Z shoppers want sales associates to make recommendations while they’re shopping
- Gen Zers want to do their own research, and find out about products by:
- Visiting a specific store’s website: 49 percent
- Word of mouth: 45 percent
- Searching megastore apps: 43 percent
They embrace the future, but are weary of the futuristic
- Gen Zers crave efficient, interesting shopping experiences:
- 44 percent want Augment Reality (AR) and Virtual Reality (VR) technology to be part of their shopping experience in the next 12 months
- 39 percent hope to be able to “just walk out” of stores with their purchases within the next 12 months
- But some experiences were just too futuristic:
- 35 percent did not want biometrics—features like retina and fingerprint scanning for purchases—to be part of their future shopping experience
- Only 26 percent of Gen Zers have warmed up to purchasing from a messaging app
There is a clear upside for retailers
- 66 percent would visit a store more if they were able to check if an item was available beforehand
- 50 percent would shop more overall
Download the full report here.
The findings were part of a survey of 2,000 Americans between the ages of 18-55 conducted by Adyen and Morar Consulting that focused on the evolving retail experience. The first report in the series found that brick and mortar retail must evolve to meet the needs of a new segment of shoppers, dubbed the Tastemakers, in order to thrive in the changing retail landscape.
