Euclid Analytics revealed the results of its Evolution of Retail, 2017 Generation Z Shopper survey report. The commissioned survey polled over 1,500 consumers from the US and found that to capture this audience, physical retailers need to balance personalized, digital methods with compelling in-store experiences to engage with these mobile-first customers. Gen Z shoppers are increasingly motivated by the convenience and personalization found online, forcing retailers to cater to new behaviors and expectations.
- Gen Z population set to reach 2.6 billion by 2020.
- 53% of Gen Z shoppers shop in retail stores at least once a week.
- The National Retail Federation indicates they hold an estimated $44 billion in buying power, creating a tremendous opportunity for retailers to attract and engage with a new set of customers.
- Gen Z values the in-store experience: 66% of Gen Z still prefer to shop in-store because they like to see, hold, and try on products before buying.
- 28% of Gen Z shoppers want to engage with store associates while shopping, the most of any generation.
- Gen Z visits stores to find, not browse: Only 47% of Gen Z shoppers like to browse stores (tied with Baby Boomers for the lowest compared to Millennials and Gen X) and 31% of Gen Z shoppers believe it is hard to find items they are looking for in a physical store (the most of any generation).
- Personalization gains focus: 26% of Gen Z shoppers expect retailers to offer a more personalized experience based on their shopping habits and preferences, the most of all demographics, versus 22% of Millennials, 17% of Gen X, and 11% of Baby Boomers.
- Snapchat provides social proof: 44% of Gen Z shoppers use Snapchat the most while shopping in a retail store, as compared to only 16% of Millennial and 5% of Gen X respondents.
- Instagram wins for brand discovery: While Gen Z shoppers use Snapchat the most while shopping, they rely mainly on Instagram (45%) to find new cool products, followed by Facebook (40%).
Read the full press release.