Gen Z. Who are these new generation of shoppers? No doubt Gen Z consumers are a powerful group in the future of retail. They may be only 14-19 years old right now but Gen Z will be the world’s largest consumer group by 2020. When it comes to consumer behaviour, Gen Z definitely stands out from the flock. So understanding what makes them tick and tailoring new generation marketing to fit is key to future-proofing your business. In this instalment of DC Insights, we build on our earlier story about the top five drivers of change in the future of retail by helping you get better acquainted with the forthcoming generation of consumers.
Who are Gen Z?
Technology lies at the heart of retail for Gen Z. Here is your first group of genuine digital natives who fully embrace an omnichannel approach and are highly influenced in their shopping behaviour by social media. Gen Z are impulsive purchasers, rely heavily on visuals and spend more time on their mobile devices than previous generations. Because of this, retail websites, apps and social media are key influencers in their purchasing processes. That said though, the majority of Gen Z prefer shopping in-store as opposed to online and will check out prospective purchases in-store before making an online buy.
So what does this mean for new generation marketing?
Gen Z presents a host of exciting opportunities and challenges for retailers. When you craft your new generation marketing strategy, applying the knowledge you have about Gen Z consumer behaviour will help set you up for success. So what new generation marketing insights can you apply?
* Gen Z rely heavily on social media to research their purchases. So your new generation marketing can capitalise on platforms like YouTube, Instagram and SnapChat to deliver highly visual showcases of your products or offer.
* Amp up that omnichannel experience for top notch new generation marketing. Gen Z leave no stone unturned in researching their potential purchases. Most will visit a physical store to get product information, use mobile devices to compare prices, check out social media reviews and so much more. They relish the journey of exploration and discovery – so be sure to have your in-store and online experiences deliver a seamless enriching customer journey
* Brace yourself for this one: brand loyalty does not exist for Gen Z. Or at least, it does not exist to any great extent. So how can new generation marketing clinch you a cohort of return Gen Z shoppers? The key lies in basing your marketing in a compelling retail experience
The old rules of retail no longer apply. Gen Z is set to shake things up on a major scale. With unique shopping behaviour, Gen Z demands a breed of new generation marketing that retailers have never before traversed. How prepared are you to capture the Gen Z market? Speak with Design Clarity for more information and new generation marketing expertise.