Gen Z (born between 1995 and 2015) are more likely than Millennials and Gen Xers to shop at brick and mortar stores and enjoy it.
81% of those under 24 like to make purchases in-store. 60% of this generation have been to the mall in the past week, and virtually all made a purchase. 73% use real world stores to discover new products and 65% to try samples. What’s more, almost half of Gen Z believe they will shop more in stores next year, a stark contrast to Gen X and Boomer’s projections.
Why does Gen Z like brick and mortar retail? First, they see physical stores as an oasis where they can escape from digital and social media. Plus, they value getting their purchases instantly and avoiding the hassles of online returns.
The relationship between Gen Z and physical stores is not all rainbows and unicorns. Consumers under 24 have a strong preference for stores with highly curated selections. They have a very low tolerance for poor customer service, and are likely to respond by walking away and never returning.
Sources: AT Kearney 2019, Marketing Insider 2019, MarTech Advisor 2019, Oracle 2019, PYMNTS 2019
So please…You’re creative. That’s why you considered the name “Brandology.” Use those creative juices to come up with another name that’s not already trademarked. Even though it will take some time, it will be fun, happy time — a stunning contrast to the time you’ll spend with Brandon if you try to use “Brandology.” Really. (It’s probably a little tacky to mention, but if you want our help naming your business, that’s something we do too.)