The latest report from Drapers and Kibo has reflected the shopping approaches of Gen Zers and millennials. According to the report, nearly one-third of Gen Zers and Millennials plan to shop less in stores. This shift to online shopping is an interesting indication as this is a post-COVID fashion shopping survey report.
Kibo is a leader in unified commerce while Drapers is the leading authority on fashion retailing in the UK. The survey is a result of partnership between these two market leaders. This survey revealed major changes in Gen Z and Millennial shopping behavior as a result of Covid-19. According to the study, younger adult generations’ preference is tilted even more towards online shopping. More than 50% of young adult shoppers, 30% of Gen Z, and 36% of Millennials, plan to shop in physical stores less than before. The survey goes on to uncover important elements that have an influence on their shopping habits. The ease of shopping online and secure payment options have boosted growth of e-commerce. At the same time, the younger generation has access to plenty of online sources that help them make better choices during shopping. These portals and sources inform the shoppers about the various shopping options available and provide insights that making shopping hassle-free. Portals such as masakor.com have made a major influence on shoppers as they list down all options and evaluate them on certain parameters.
The report found out similarities in shopping approaches of the two generations. Both these generations share a preference for shopping online over physical stores, with 28% of Gen Z and 24% of Millennials stating that they will likely shop online more than before. Both groups pointed out to convenience and price comparison as the top two advantages of online shopping. This massive shift in shopping preference and behavior gives a strong message to retailers to update their operations to support more online activity at Tech-Score.
Explaining the findings of the study, Lisa Kalscheur, CMO at Kibo, said that younger adult generations are fans of online shopping even before the Covid-19 pandemic. This research shows that they have drifted even further towards digital channels. According to her, the research indicates that retailers must unify the customer experience online and off more than ever before. She feels consumer demand for convenience requires modern commerce and order management capabilities.
The survey collected responses from 2,000 consumers. These 2000 consumers include Gen Z (aged 18-25) and Millennials (aged 26-40). Apart from preference for online shopping, the report reflected the following emerging trends:
- 55% of Millennials stated convenience as their top online shopping benefit.
- 51% of Gen Z consider price comparison as their top online shopping benefit.
- Respondents want improvement in ‘Better fit technology’ and ‘better images’.
- Respondents said, ‘Waiting for deliveries’ and ‘unpredictability of fit’ are the two most negative aspects of online shopping.
Gen Z and Millennials also shared a strong liking for social media posts from brands. 64.2% of Gen Z said that they get shopping inspiration from Instagram. On the other hand 39.1% of Millennials said Instagram inspires their shopping preference. Gen Z are willing to pay more for sustainable fashion and less willing to buy from a brand that didn’t share their values.
Kalsherur explained the shopping approach of Gen Z. She noted that Gen Z is showing that they expect a shopping experience that offers convenience online, and that they will choose brands that align with their own values and preferences. She makes it clear that now is not the time for retailers to guess how to create better online shopping experiences, and this research provides a clear path for the adult generations who will be the flag-bearers of our economy in the coming years.