Is your eCommerce store ready for Generation Z? They may hold the key to the future of eCommerce success. After all, Gen Z has never experienced a world without smartphones and the internet.
More importantly, they are changing the “old ways” of eCommerce and shopping as a whole. Gen Z is a new wave of consumers, and they come with different spending habits and behavior. They are well on their way to becoming the biggest group of all. And if you don’t understand them and their spending habits, your future revenue will take a serious hit. Gen Zers come with big-spending powers.
Here’s how you can get into their mindset and prepare for the future of your eCommerce.
Who Are Gen Z And What Do They Do?
Gen Z is anyone born between 1996 and 2010. Considered as digital natives, they don’t understand a world where technology does not exist. When it comes to online shopping, they have a different set of priorities. For instance, they are politically active and conscious of the environment, more than any other generation. Now, you may be thinking, how does this tie in with eCommerce? Well, it’s not only their shopping behavior that is different from before. Where they shop and what brands they prefer also hold a lot of significance.
Many Gen Zers won’t shop from a brand that isn’t environmentally friendly. And if they believe in a cause, they aren’t afraid to boycott a brand and make a lot of noise about it. As most of them enter the workforce, Gen Zers come with a fair amount of spending power.
Sure, they are young, but it doesn’t mean that they will spend their money irresponsibly. Oh no.
These four tips will help you understand Gen Zer’s consumer behavior.
They Love Consumer Financing
Gen Zers love luxurious top quality items. That’s why they love consumer financing. In other words, Buy Now Pay Later. They don’t use Buy Now Pay Later, as a last resort but more as a priority. Even the global pandemic hasn’t stopped Gen Zers from buying goods.
In fact, research has shown that during the pandemic, Gen Zers shopped even more to lift their spirits. That gives you a little more insight into their attitude during trying times. Because of this, more and more companies are offering consumer financing as a method of payment. So, if you haven’t set up a BNPL service for your store, start investing in these options from reputable partners like ChargeAfter.com.
They Do Their Research
Gen Zers don’t just limit themselves to online shopping. One study showed that 64% of Gen Zers said they preferred to shop in-store than online. This study was done pre-pandemic, but regardless, they like to do one thing before purchasing anything is research.
Whether they are shopping in-store or online, Gen Zers are likely to check a store’s app to make sure they aren’t missing out on deals. They also like to check the product’s visuals and see if the company is in keeping with its values.
Ensure your products are visually appealing, and people can easily find positive feedback on your products and customer service.
You Will Find Them On Social Media
Gen Zers are very comfortable using social networks. This works well for you because social media is an effective marketing powerhouse when used correctly. Even more, Gen Zers don’t hesitate when it comes to engaging on social media.
This presents you with the perfect opportunity to not only engage with them but to build a relationship of trust and loyalty.
This leads us to the next point nicely.
The thing about Gen Zers is that although they may follow you on social media, that doesn’t necessarily mean that they are loyal to you. They sure love their favorite brands. But, if they find a similar product that costs less, they have no qualms about buying it.
Brand loyalty isn’t a priority for Gen Zers, but pricing is, so you need to continually promote your offers. And social media is a great way for you to do that.
The Bottom Line
Gen Zers have raised the bar high for online shopping, and you need to be prepared. Gen Zers are sharp, tech-savvy, and confident. Understanding their behaviors and needs makes you much more prepared to cater to the largest generation of shoppers yet.