Preparing Retail for Generation Z

Move over millennials, as Generation Z comes of age, they are becoming a force for change in retail. Generation Z is composed of everyone born after 1995 and is expected to number more than 2.6 billion individuals around the globe by 2020. This generation, like millennials, is very focused on the ease of using mobile devices or having an online presence. Generation Z has never known a time before the internet and mobile devices, and as a result, they view a connected, seamless experience as important.

The National Retail Federation and IBM’s Institute for Business Value recently conducted a study on this emerging group, which holds $44 billion in buying power. The study found some insights that all companies should be aware of as they look to tap into this increasingly important group. The insights from the study are:

  • 73% of Gen Z use their phones primarily to text and chat socially with family and friends, but members are willing to extend their conversations to brand relationships.
  • 36% would create digital content for a brand; 42% would participate in an online game for a campaign; and 43% would participate in a product review.
  • They have no patience for hard-to-use technology and demand a seamless mobile/digital experience.
  • 62% will not use apps or websites that are difficult to navigate, and 60% will not use apps or websites that are slow to load.
  • Gen Z knows personal information is valuable to retailers, so members want to know how brands are using it and how the information will be protected.
  • Fewer than 30% are willing to share health and wellness, location, personal life or payment information; 61% would feel better sharing personal information if they knew it would be securely stored and protected.

As companies look to develop or enhance apps and web experiences, retailers should be focused on these factors that are important to Generation Z. Companies such as Apple, Amazon, Google, Snapchat, Facebook and others increasingly look to tap into this data and either enhance an existing retail presence or build their own retail experience.

For more information, please contact Schneider Downs or visit the Our Thoughts On blog.

You’ve heard our thoughts… We’d like to hear yours

The Schneider Downs Our Thoughts On blog exists to create a dialogue on issues that are important to organizations and individuals. While we enjoy sharing our ideas and insights, we’re especially interested in what you may have to say. If you have a question or a comment about this article – or any article from the Our Thoughts On blog – we hope you’ll share it with us. After all, a dialogue is an exchange of ideas, and we’d like to hear from you. Email us at [email protected].

Material discussed is meant for informational purposes only, and it is not to be construed as investment, tax, or legal advice. Please note that individual situations can vary. Therefore, this information should be relied upon when coordinated with individual professional advice.

© 2024 Schneider Downs. All rights-reserved. All content on this site is property of Schneider Downs unless otherwise noted and should not be used without written permission.

our thoughts on
Get the Low Down Before You Download: Exploring the Temu App’s Security Risks
Audit BY Erin Puko-Wilking
2024 Audit Plan Hot Spots
Fortifying Retail Security: Essential Cybersecurity Tools and Software
Ensuring Network Security in the Retail Industry: A Crucial Imperative
Cap Table Basics for Startup Companies
Potential Accounting Changes for Environmental Credits
Register to receive our weekly newsletter with our most recent columns and insights.
Have a question? Ask us!

We’d love to hear from you. Drop us a note, and we’ll respond to you as quickly as possible.

Ask us
contact us
Pittsburgh

This site uses cookies to ensure that we give you the best user experience. Cookies assist in navigation, analyzing traffic and in our marketing efforts as described in our Privacy Policy.

×