Do Gen Z and Millennials have Different Shopping Habits?
Though the oldest members of Generation Z are just beginning to enter the shopping game, their spending power is getting bigger. Marketers who want to remain relevant must understand the unique needs of these young men and women.
According to Mary Hanbury, Generation Z’s approach to brands is part of what sets it apart from previous generations. More specifically, when deciding where to shop, their primary motivator is the price. Since they are frequently documenting their life on social media, they feel the need to have new clothes. That’s why one of their main challenges remains to be unique and balance that with saving money.
Are Gen Z’s shopping habits similar to those of Millennials? This is what we are going to explore based on the stats gathered through TruePublic.
The hypothesis is the following: Gen Z and Millennials do not approach retail in the same way.
In fact, it turns out that Millennials (39%) shop online more often than Gen Z (31%).
In the past year, the percentage of Gen Z (76%) people who bought more of their clothes in stores was higher than the Millennials (74%) who did the same.
And the biggest drawback of online shopping for both (52% of Gen Z and 54% of Millennials) is the inability to see the product.
Disparities exist in the choice of gadgets Gen Z and Millennials use for online shopping. Most Gen Z respondents (57%) opt for a laptop for online shopping, while Millennials prefer smartphones (52%).
However, it turns out that Gen Z people shop online nearly as much during Black Friday/Thanksgiving as Millennials do. 46% of Millennials said they shopped online, in-store or both, and 45% of Gen Z said they did so.
However, despite the fact that Millennials shopped slightly more during Black Friday, more of them (33%) said they don’t like it as opposed to Gen Z only 20% of whom said they don’t like it.
Despite the fact that Gen Z people relatively dislike online shopping, more of them (58%) believe that everything will go online by 2040 as opposed to Millennials, only 50% of whom are thinking this way.
Gen Z consumers are also less likely to plan their purchases ahead of time. For example, when grocery shopping, only 42% of Gen Z is using a shopping list as opposed to 47% of Millennials who do so.
Generally, when asked if they love, like, don’t like or hate shopping, 37% of Gen Z said they love it (as opposed to the 35% of Millennials who answered the same way), and another 38% said they like it (as opposed to the 44% of Millennials who answered the same way).
The TruePublic statistics provided above prove the hypothesis that Gen Z and Millennials approach retail differently.
Gen Z people seem to like shopping more than Millennials do, but at the same time, they shop mainly in-store as opposed to Millennials, more of who prefer shopping online. Even during Black Friday and Thanksgiving, Gen Z shop less than the Millennials do, although more of them say they love shopping.
If your brand is struggling to understand your consumer behavior and preferences, feel free to book a demo with us. Someone from our team will be in touch with you for a brief introductory call. We love showing how TruePublic works and how brands can benefit from our insights.