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GEN Z SHOPPING TRENDS 2022
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Research has shown that the covid pandemic has played a crucial role in shaping Gen Z trends especially their buying behaviour. Though Gen Z has always been seen as the digital generation, the pandemic intensified this somewhat. A study found that 30% of Gen Z shoppers plan to shop less in physical shops than before. Correspondingly, we have seen several buying trends emerge linked to online shopping, though not exclusively. In this article, we’ll be discussing some of the trends we saw in 2021. These trends, no doubt, will give an insight into Gen Z buying behaviour in 2022.
Impulse Buying One of the most notable features of Gen Z buying behaviour is a lack of impulse control. Nearly 60% said they had made a purchase randomly after seeing it online. There are several reasons for this trend.
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We're More Likely to Make Impulse Purchases Online The evidence for this comes on the back of a study that concluded that people are less able to self-regulate their spending online than in person.
We Spend More When We're Under Stress The second point may be self-evident - as many as 80% of Gen Z were worried about their financial stability during the wake of covid.
Once more, a third reported that their work/life balance had been adversely affected. Another 50% felt anxious about their studies. There is evidence that people are more likely to make impulse purchases during uncertain times.
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In a study of residents impacted by hurricanes Katerina, residents experiencing depression and trauma were more likely to partake in impulse buying. This was partly due to a perceived lack of control in their everyday lives. Impulsive buying was a means to elevate their depressive state. This idea is reinforced by evidence showing that people are more likely to purchase from advertising or stimulus that evokes a positive emotional response. In such cases, the positive emotion would trigger subsequent impulsive spending.
More purchasing power Another trigger for impulse may come on the back of the increased buying power that we see with this generation. Gen Z represents $44 billion in direct buying power. Buying power or purchasing power refers to the amount of credit available to a consumer, in other words, how much money they have to buy.
When we have more money to spend, we often see people’s spending increases, also known as lifestyle inflation.
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Gen Z's Have High Expectations of the Shops They Use 72% of Gen Zs expect shops to already know what kind of purchases they want to make. In other words, they expect more niche advertising. This factors into our second point:
Gen Z’s Want Brands to Reflect Their Interests and Values A book on the marketing behaviour of Gen Z explicitly documents this fact. They have a particular interest in race, gender and educational equality. They likewise want to see brands that reflect these values. For example, 71% of Gen Zs felt brands must address diversity and inclusion. This was concerning advertising and branding and company employment diversity policies. Moreover, Gen Zs want to see honest and consistent social awareness rather than publicity stunts to evoke social advocacy.
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They Expect an Omni channel Shopping Experience Another defining feature of Gen Z buying behaviour is making their purchases. It's well documented that technology has influenced Gen Z from birth. As a result, we see a fluidity between different digital devices and social media channels. In short, 51% of Gen Zs expect to make purchases quickly between other shopping channels, such as in-store, through social media, websites and apps.
Conclusion Hopefully, this has highlighted some of Gen Z most notable shopping habits. However, if you want more insights into the next generation, visit Selfhood today to get expert opinions, direct commentary and reporting from Gen Zs themselves.
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