The holidays are officially in full swing, so you’ve likely made preparations to get through this season, but if you feel like you’re not as ready as you’d like to be or you want to take a different course of action for next year, you'll want to keep reading.
We’re talking about Gen Z and holiday shopping – as a substantially growing demographic, Gen Z is a force you’ll want to start paying attention to this holiday season and beyond. Why? Because Generation Z is one that could make a difference in the growth and longevity your business. Of course, baby boomers and millennials currently still make up the primary demographic for most retailers but, as with anything, there’s always something new on the horizon, and that’s where Gen Z comes in. Whether you’re catering to their shopping habits now or not, they will make up a massive audience in the years to come – something to keep in mind as you grow and develop your sales and marketing strategy.
Gen Z is starting to make a significant impact on the future of shopping – especially as it relates to the holidays and beyond. ‘Shopping’ for this generation isn’t just about having a brick and mortar shop or online-only inventory. This generation prefers to have a variety of avenues, including social media, mobile shopping and personalized experiences like popups and other sponsored events.
This demographic is also interesting because strategists conclude that Gen Z will spend the most during the holiday season but a substantial portion of those shoppers – up to 66 percent – will have a budget to work with that only ranges to about $250. These strategists also want to remind brands and retailers that it’s not always about the budget or spending power. For example, while Gen Z might not be able to drop large amounts of cash on luxury goods now, their habits and spending preferences are something to pay attention to as they get older and grow their income through better careers or employment.
Holiday Shopping and Gen Z
Are you prepared for this new generation of shoppers? Want to figure out how to reach them better for the holidays next year? Gen Z shoppers are frequently attracted to brands and retailers that provide an experience. New shops and brands being launched appeal to this and are working to find ways to appeal to millennials and Gen Z. We're already starting to see the rise of in-store activities, wellness studios, and private or VIP areas that provide interactive experiences at retail.
That doesn’t mean you need to create an elaborate, interactive concept to appeal to Gen Z – it merely means there are a few things that Gen Z shoppers want out of a brand or retailer:
- They want the experience to feel authentic
- They want to connect with a brand
- They want to engage with knowledgeable people while in the store
So, how do you incorporate these elements into your retail store or brand experience?
Connecting with the Gen Z Shopper
This holiday season plan more interactive elements for your retail store or brand so shoppers can engage – this can be through samples, product trials or even designated spots to enjoy an interactive treatment like facials, personal shopper/style tips or personalized product guides.
One thing that’s setting Gen Z apart from other demographics is their willingness to shop in-store. Generations before preferred the ease and selection of online shopping – and while mobile or online shopping is still an essential aspect of any retail strategy, Gen Z is enticing retailers and brands to spend more time creating a great in-store experience.
How do you do this with your product or services?
Working with influencers or brand ambassadors is another effective way at bridging that gap between a brand and the shopper – these brand ambassadors are essential factors for any retailer in that they serve as that personal touch between a brand and a consumer.
Shopping malls and stores aren’t just a destination with an inventory where a Gen Z shopper can go in, make a purchase and leave – especially with the big boost of holiday shopping! Instead, this generation wants a fun spot to hang out with friends, learn new things, try brand new products (which they’ll share on social media) and come out with a purchase or two.
Don’t think you’re ready to attract the Gen Z shopper? Connect with Beauty Barrage to help your in-store sales and marketing strategy in 2019!