Euclid report finds Gen Z wants a personalized shopping experience
Euclid Analytics on Wednesday released the results of its Evolution of Retail, 2017 Generation Z Shopper survey report. Like other recent surveys, it too found that Generation Z shoppers prefer to shop in stores despite being the first “digitally native” generation.
But it also found that 26% of Gen Z shoppers expect retailers to offer a more personalized experience based on their shopping habits and preferences and that Generation Z wants personalization more than any other demographic.
"Retailers should reach out to Generation Z at this early stage to introduce their brands and forge enduring relationships," said Brent Franson, CEO of Euclid Analytics. "Our findings highlight some great opportunities for them to connect with this mobile-first population that's still very much interested in meaningful in-store experiences. Winning their loyalty will mean getting creative about using mobile and social marketing outreach in their physical stores."
According to the survey, 53% of Generation Z shoppers shop in retail stores at least once a week, and 66% prefer to shop in store to hold and try on products. Over half of Generation Z shoppers (53%) visit stores to find products, as opposed to browsing stores, and only 31% believe it is hard to find items they are looking for in a physical store.
When it comes to social media and shopping, Generation Z uses Instagram the most for brand discovery (45%), but they use Snapchat the most while shopping (44%). Instagram’s shop app and feature could capitalize on the young shoppers’ buying interests, much like Buyable Pins on Pinterest that allows users to shop without leaving the app. Pinterest is also launching Pinterest Lens, a new in-app camera that recognizes up to 1 billion items in real time including brand names like Adidas and Michael Kors. Users can point the Pinterest Lens camera at any product to discover an item, and if the feature fails to recognize the item then the user can add suggestions.
Many retailers are encouraged to target Gen Z shoppers that, according to the NRF, have an estimated $44 billion in buying power. The NRF added that the Generation Z population is expected to reach 2.6 billion by 2020. Adapting to this huge demographic early can keep retailers ahead of the curve and thriving in the currently volatile retail climate.
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