Gen Z is the most digitally-savvy generation to date, seeing as they’ve spent their whole lives in a world where technology was readily accessible to the masses. The normality of online experiences and readily available information have developed an unmoving set of values for the majority of this age group.
Tag: Generation Z
“Millennial and Gen Z consumers are embracing luxury fashion. The average luxury consumer in these generations owns nine luxury fashion items across accessories, apparel, and footwear, according to A Millennial Approach to Luxury, a recent report from The NPD Group and Stylitics. But, they have a different style when it comes to the purchase journey. This younger luxury consumer favors the convenience and extensive browsing ability afforded to them by online shopping, but also appreciates the luxury in-store experience.”
“Generation Z is eager to get on the property ladder. Fifty-nine percent of Americans between the ages of 18 and 23 want to buy a house in the next five years, and more than half have already started saving for one, according to a survey by Bank of America Corp.”
“The oldest of Generation Z will be 22 years old this year and they are just beginning to make their mark on dining out and eating trends, finds The NPD Group, which tracks on a daily basis all aspects of how consumers eat. Gen Zs made 14.6 billion restaurant visits in 2018 and now represent 10% of total food service traffic. A large percentage of this generational group have been raised to put a greater emphasis on the quality of food, whether it’s clean, fresh, or nutritionally beneficial, as well as its flavor and function. Their attitudes and behaviors about the foods they consume are now being reflected across grocery shelves and cases.”
Tax refunds continue to play an important role for many consumers when it comes to paying holiday debt. In a recent survey conducted by Jackson Hewitt Tax Service, 41% taxpayers polled revealed that they look forward to their tax refund to pay holiday bills. The same survey showed that the youngest taxpaying generation, Generation Z, is the most likely to use their tax refund to repay holiday debt, with 63% reporting that they look forward to their tax refund to pay holiday bills.
“Almost all U.S. consumers are value-conscious shoppers who regularly visit discount retailers to find a bargain, according to the latest issue of the quarterly Consumer View report released by the National Retail Federation.”
For decades, the most important right of passage for American teenagers was the purchase of a first car to drive to the mall to hang out with friends. A new analysis of teenage conversation patterns by Engagement Labs shows that teens today (popularly known as Generation Z) present an entirely new challenge to marketers. Enabled by mobile devices, ride sharing, and a penchant for walkable restaurants and retail malls, teenagers are shunning destination retail and the auto industry for FaceTime, 7-Eleven, and Starbucks.
Banks’ huge investments in innovation may not yet be on the mark in creating experiences their customers want, according to new research from Genpact. The survey shows that customers want both the convenience of new technology and the personal service they’re used to with traditional channels, underscoring challenges that financial institutions face in achieving return on investment from digital transformation initiatives.
Global health service company Cigna released results from a national survey exploring the impact of loneliness in the United States. The survey, conducted in partnership with market research firm, Ipsos, revealed that most American adults are considered lonely.
Two-thirds of children between the ages of 7 and 13 would prefer to have a tech gadget rather than a toy to play with, according to new research from The Intelligence Group (IG). Children in that age group — some 46 million strong — make up the bulk of the consumer segment that researchers have labeled “Generation Z.” GenZ children are important to marketers, as they are “the main drivers behind parental purchases.”