Retailers, here’s what you are getting wrong about Gen Z consumers
Let’s consider the first 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).
Now look at the second one: From TV shows and online videos to music and podcasts, Gen Z loves to watch and listen from the web. This group streams 22 hours of video content per week.
And last, but not the least: Gen Z values real-world retail for experience and discovery. While 77 percent prefer to do as much shopping as possible online, 80 percent look forward to shopping in the store when they have time.
These are some of the findings of Gen Z Report, released by commerce marketing technology company, Criteo.
The report analyzed shopping perceptions from thousands of members of Generation Z (Gen Z) and found that this powerful group of shoppers share a love of real-world retail experience, augmented by technology.
The report also revealed key findings of the demographic’s spending power, retail behaviors, and expectations.
Both online and off, the amount Gen Z spends across categories is strong, particularly in consumer electronics where they spend an average of $220 online and $169 offline over a six-month period, the findings add.
Criteo surveyed thousands of members of Gen Z in the US, UK, France, Germany, Brazil, and Japan to understand what they think about shopping: what motivates them to shop and what they want from the retail experience.
While all countries have different economic factors at play, members of Gen Z share a commonality in their love of real-world retail experience, albeit augmented by technology.
“In the Middle East, youth under 24 years of age make up about half of the total population, providing immense opportunities for retailers and marketers. The same set of rules that worked with millennials don’t apply to this generation, with the prime difference being that Gen Z embraces physical shopping again, supported by the use of technology,” Alexander Gösswein, Regional Managing Director Central Europe, MEA and Russia, Criteo said.
“Retailers must, therefore, target this mobile-focused generation with a highly personalized ad experience and take a powerful omnichannel approach to address evolving consumer behavior and needs,” he added.
they crave novelty and experience. The Instagram generation lives by visuals and expects their retailers to make experiences cool and aesthetic, show how products are used and feature them in their best light.
To do this, the report adds, retailers must improve the online experience and enhance store display and design.
Retailers and brands that embody Gen Z values, and ultimately win their loyalty, offer personalized experiences, limited-edition merchandise, uncommon products, good-looking stores and authentic brand stories.