retail news in context, analysis with attitude

IRI is out with a new study that looks at the shopping attitudes and behaviors of Generation Z, consumers who are age 21 and younger, concluding that this demographic group “will be different from millennials and the generations before them on many levels - on top of being the most culturally diverse shopper population to date, Gen Zers are already forming unique purchase motivators and preferences.”

Among the conclusions:

• “Brick & mortar holds its own against online. Gen Z sees both brick & mortar and online retailers being equally able to deliver the brands they want — a large product selection, low pricing and enjoyable shopping experiences.”

• “Social media plays a far bigger role in influencing Gen Z purchase decisions than pricing or discounts. Gen Z is two to three times more likely to be influenced by social media than sale or discount pricing when making purchasing decisions, making them the only generation to be more driven by social media than price.”

• “Ease of the shopping process has substantial influence. Gen Z is more likely than any other generation to choose a retailer based on how easy it is to find what they want, including millennials.”

• “It’s not just a price game for Gen Z. The ability to find what they’re looking for in the store is as important in driving retailer choices as low prices.”

• “While Gen Z is still not yet doing the majority of their own shopping, more than 25 percent of Gen Z members already engage with retailer apps for discounts and promotions, compared with 33 percent of millennials. These findings confirm the digital, social-centric shopper experience Gen Z will seek out, whether shopping online or in-store.”
KC's View:
Hence, the Minnesota Vikings approach, as described in this morning’s Eye-Opener.