NRF Study Reveals Gen Z Shopping Insights
Those born after 1995, or Gen Z, are a force to watch. They are already influencing household spending and have new attitudes toward brand relationship, both of which retailers need to keep in mind in forming sales strategies for the upcoming holiday shopping season.
The National Retail Federation’s 2017 Holiday Planning Playbook reveals new insights in how this generation is different from its older counterparts as well as shopping patterns of all consumers that retailers need to know. For example, 71 percent of Gen Z indicate they make more impulsive purchases; significantly higher that their older counterparts.
While nearly half of shoppers still browse stores to get gift ideas, retailers can’t abandon e-commerce. Retailers need to consider ways to blend digital and in-store experiences to guide shoppers throughout the holiday season. One strategy for omnichannel retailers is to use data from digital channels to drive product presentation and selection in stores.
Another emerging trend in the registry. No longer reserved for weddings and new babies, registries and wish lists are becoming a critical component of the holiday shopping experience. Nearly two-thirds of holiday shoppers said they would like to use retailer wish lists to help their gift purchases, whether it be a curated list of items or a special feature to save and share their own list of desired gifts.