NEVER MIND MILLENNIALS… HERE COMES GEN Z! · millennials… here comes gen z! and why does this...

NEVER MIND MILLENNIALS… HERE COMES GEN Z!

And Why Does This Matter To Retailers

NEVER MIND MILLENNIALS… HERE COMES GEN Z!

AND WHY DOES THIS MATTER TO RETAILERS

x

10 THINGS WE FOUND IN THE DATA

WHO IS GEN Z? AGE

TECHNOLOGY

PARENTS

MILIEU

13-23

AI

GEN X

DIVERSITY

BRANDS AS ANXIETY RELIEVERS

1#sad #depressed #OCD #alone #bored #bullied #depression #anxiety #ptsd #hope #recovery #stress #adhd #mentalhealthmatters

28% have suffered

depression

52% have an anxiety

problem

76% total believe they

have a mental health issue

SPLEEN GEN

2

They know they will buy less and own less

First generation to feel their life will be worse than their parents

Eco-anxiety

PRODUCT

OVEREXPERIENCES

BRANDS

OVER

EXPERIENCES

FUNCTIONALITY IS BACK

3

IMPORTANCE OF LOYALTY PROGRAM FOR REASON TO SHOP AT … (% EXTREMELY IMPORTANT – 7 POINT SCALE)

LOYALTY

4

Z

YXB

12% 11%

23%

41%+

++

+ +

+

+

+

+

+

+

COUPONING IS DEAD … LONG LIVE COUPONING

5

THEY WILL SHOP ALONE OR IN TWO… MILLENNIALS WERE IN

GROUPS

ALONE IN A CROWD

IS HOW THEY WILL SHOP

SELF-DISCOVERY

6

GEO-FENCING (IN STORE)

VIRTUAL SHELVES

APP PURCHASE FROM VIRTUAL DISPLAY

PUSH PROMOS ON PHONE WHILE IN STORE

SHARING PERSONAL INFO TO STAFF WHILE IN STORE

MAGIC MIRRORS

AR AND VR

Z vs Y MUCH MORE LIKELY

TO SHOP

APPAREL & SHOES

CONSUMER ELECTRONICS

BIG BOX & DEPT STORES

+

+

+

++

++

+

+++

++

+++

+

+

++

+

+

+

++

+++

36%

39%

26%

41%

37%

52%

63%

A simple change from

HELLA MINERALWASSER

WHERE THEY BUY WILL BE IRRELEVANT

7

BRAND+ MEANING

FIRST

OWN LESS SPEND MORE

8

CAN YOU BE THAT BROKER

#secondlife

LUXURY BRANDS BEWARE

9

SOCIAL STATUS IS SOOOOO TWENTIETH

CENTURY

THINK 360

10

BRAND MEANING AND STORYTELLING

@leger360 /LegerCanada /company/leger360 @leger360leger360.com