Generation Z has two faces

By: Trademagazin Date: 2019. 08. 30. 08:35

A study conducted by IBM and the National Retail Federation (NRF) found that the so-called Generation Z – consumers born in the 1990s and early 2000s – will consist of 2.6 billion people by 2020. Those who belong to this group expect technology to be intuitive, relevant and engaging – informed Steve Laughlin, CEO of IBM Global Consumer Industries in a press release. This phenomenon creates a great challenge for both retailers and brands: their task is to come up with personalised, interactive experiences by using the latest digital technology. Matthew Shay, president-CEO of NRF explained that consumers who belong to Generation Z appreciate and expect practical experience while shopping.

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Although technology keeps developing, certain buying habits stay the same. This is why retailers need to be pro-active and dynamic if they wish to serve the needs of these consumers. The study was conducted by interviewing more than 15,000 consumers of 16 countries in the 13-21 age group. It found that 67 percent of Generation Z consumers spend the most time in traditional shops. 31 percent only shop in stores occasionally. This means that 98 percent of this generation visit brick and mortar stores.

At the same time 74 percent of them spend their free time online and 25 percent are online at least 5 hours a day. 73 percent of Generation Z primarily use their mobile phones for chatting with family members and friends, but they are also open to communicating with brands. 43 percent gather product information online but 62 percent don’t use mobile apps or websites which are complicated, and 60 percent don’t use websites that load slowly. Consumers who belong to Generation Z especially like brands that create an interactive environment for them, which customers can shape with their own experiences.