When it comes to generational consumer activity there is much difference between the attributes of the Gen Z shopper compared to Millennial counterparts and older generations.
A CM Group consumer research effort that polled 1,000 consumers found Gen Z consumers are better educated, more practical, more ambitious and more skeptical than Millennials.
Compared to any prior generation, people under the age of 24 expect a relevant “phygital” experience that is seamless and personalized, both online and in-person, according to a release on the findings. This subset of consumers also crave authenticity and transparency and are confident using every channel available to them to live their daily lives — be it to learn, shop, communicate or for entertainment.
Additional findings include:
- 23% of Gen Z ranks authenticity as important, more than nearly any other product or company attribute such as design or social impact.
- 22% of Gen Z notes that a lack of transparency reduces their opinion of brands and products, more than any other generation.
- 47% of Gen Z prefers to shop in a store compared to online, more than any other generation.
- 75% of Gen Z prefers their smartphone when shopping online compared to 69% of Millennials.
“Gen Z presents a unique challenge and opportunity for marketers as they emerge from two years of hyper focus on supply chain and pandemic-related issues. Contrary to popular opinion, this generation is not solely focused on technology-first experiences, instead preferring to balance both to suit their needs,” Wendy Werve, CMO of CM Group, said in the release. “These are consumers who are data- and privacy-savvy and are confident that they can get what they want both in-person and online. Marketers who aren’t evolving their future looking strategies to engage this generation with transparent, authentic experiences are already falling behind.”