Gen Z Would Rather Shop In-Store
Gen Z is a generation that defies not just expectations but also preconceived ideas. Not only are younger men and women becoming more conservative compared to their older peers, they are drinking less, having less sex, and less obsessed with their careers, but they are also more likely to prefer in-person shopping. They may be digital natives, but Gen Z no longer see going to the store as a chore, and love shopping in physical stores more so than any other generation. The experience of shopping in-person is one of the key factors driving this trend alongside convenience, in-store discounts, and faster product acquisition.
Gen Z sees the physical store as a space where they can enjoy spending time (not unlike Schulz’s third place theory), whilst enhancing their online shopping experiences. Human beings are social beings, and generally speaking, in-store shopping is more likely to facilitate a sensorial shopping journey that often translates into higher spending. In fact, according to payment platform Ayden,
45% of Gen Z spend more in-store vs 37% online
44% of Millennials spend in-store vs 34% online
48% of Gen X spend more in-store vs 28% online
53% of Baby Boomers spend more in-store vs 27% online
61% of the Silent Generation spend more in-store vs 14% online
As Baby Boomers age out, and Millenials loose the will to live, the importance of Gen Z consumers will increase, and are expected to lead global spending by 2034 by adding USD 9 trillion to the global economy by 2034.
