Generation Z is twice as likely to buy something because of a social post than a sale price. That’s just one of the intriguing differences between the youngest shoppers and other generations.
Gen Z (14 to 21 year-olds) make up 23% of the US population. For comparison, Millennials are 24%, Baby Boomers are 23%.
Some other fascinating facts about Gen Z’s shopping habits include…
- When faced with a purchase decision, they are likely to choose convenience over lower cost.
- They shop in brick and mortar stores more often than online.
- Members of Gen Z think virtual and physical retailers are equally good at meeting their needs for brand selection, convenience, a good shopping experience and price.
- 25% use retailers’ shopping apps.
- 55% have made a purchase after seeing a product advertised on social media. 57% bought something because of a social media influencer’s recommendation.
- More than any other generation, Gen Z thinks ads personalized based on their history and habits are cool, not creepy.
Understanding Gen Z is important because they are a large group and the trends they start are likely to be followed by other generations.
Sources: Hill Holiday 2018, IRI 2018, National Retail Federation 2017, PwC 2017
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.)