For Gen Z, shopping is no longer just about buying stuff - it's an experience. With price tags climbing and brand loyalty slipping, retailers need to rethink their approach if they want to win over this budget-conscious generation.
Gen Z's spending power is expected to near $12 trillion by 2030, but this year those aged 13 to 28 are expected to cut their holiday spending by a whopping 23%, according to a recent PwC report. The reason? Economic strains like debt, inflation and student loans have made them super selective with their spending.
It's not just about selling products; it's about selling emotions. Retailers need to connect with customers on a deeper level, making them feel part of something. A relentless "sell, sell, sell" approach can feel soulless and inauthentic, pushing young consumers toward cheaper alternatives or "dupes".
Gen Z values experiences over material possessions, and malls are capitalizing on this trend. The American Dream mall in New Jersey hosts events like concerts and pop-up shops to attract visitors. Membership programs also offer perks like exclusive sales and releases, making customers feel part of a community.
But it's not just about the experience; Gen Z is also super researchy. Before buying anything, they dive into a rabbit hole of comparisons, reviews, and social media platforms to ensure they're making an informed decision. And with dupes on the rise - affordable alternatives that resemble expensive brands - retailers need to find a way to compete.
Despite their love for dupes, Gen Z is not willing to pay more for sustainable or socially responsible products. They want value without sacrificing affordability. As one crocheter said, "A gift isn't all about money but rather the love and care you put into it."
Retailers need to adapt to this new reality. It's time to focus on building relationships with customers, creating memorable experiences, and finding ways to make sustainable products more affordable. If they don't, they risk losing the loyalty of this generation for years to come.
As one retail analyst said, "This is the future generation." Gen Z may be budget-conscious, but they're also thoughtful consumers who value experiences and emotions over material possessions. Retailers need to understand their needs and wants if they want to stay relevant in the market.
Gen Z's spending power is expected to near $12 trillion by 2030, but this year those aged 13 to 28 are expected to cut their holiday spending by a whopping 23%, according to a recent PwC report. The reason? Economic strains like debt, inflation and student loans have made them super selective with their spending.
It's not just about selling products; it's about selling emotions. Retailers need to connect with customers on a deeper level, making them feel part of something. A relentless "sell, sell, sell" approach can feel soulless and inauthentic, pushing young consumers toward cheaper alternatives or "dupes".
Gen Z values experiences over material possessions, and malls are capitalizing on this trend. The American Dream mall in New Jersey hosts events like concerts and pop-up shops to attract visitors. Membership programs also offer perks like exclusive sales and releases, making customers feel part of a community.
But it's not just about the experience; Gen Z is also super researchy. Before buying anything, they dive into a rabbit hole of comparisons, reviews, and social media platforms to ensure they're making an informed decision. And with dupes on the rise - affordable alternatives that resemble expensive brands - retailers need to find a way to compete.
Despite their love for dupes, Gen Z is not willing to pay more for sustainable or socially responsible products. They want value without sacrificing affordability. As one crocheter said, "A gift isn't all about money but rather the love and care you put into it."
Retailers need to adapt to this new reality. It's time to focus on building relationships with customers, creating memorable experiences, and finding ways to make sustainable products more affordable. If they don't, they risk losing the loyalty of this generation for years to come.
As one retail analyst said, "This is the future generation." Gen Z may be budget-conscious, but they're also thoughtful consumers who value experiences and emotions over material possessions. Retailers need to understand their needs and wants if they want to stay relevant in the market.
they wanna experience things not just buy stuff, but its hard for retailers to get that feeling across esp since everyone's so obsessed with saving money 
i mean i know we're a generation of frugal millennials 
but gen z is like on a whole different level, they're all about research and stuff before making a purchase...i was literally scrolling through youtube reviews just the other day for my new laptop 
and it's hard to know what's real and what's not lol. retailers gotta step up their game and make us feel special not just like we're another sale 
like retailers really need to step up their game if they wanna win gen z's hearts 
they're not just about buying stuff, it's an experience, fam! 
and those who don't get it are gonna be left in the dust 
my fave brand has already started doing some pretty cool things like pop-up shops and events 
and i am HERE. FOR. IT 
they're not just selling products, they're selling emotions and creating a community vibe 
that's what gen z is all about! 
shopping's not just about buying stuff anymore 
and connect with brands on a deeper level 
. If retailers don't get it right, they'll lose out to cheaper dupes 
. Gen Z is all about value without sacrificing affordability 
. And let's be real, sustainability matters too 
. Retailers need to adapt and build relationships with customers 
. It's time to stop just selling stuff and start selling emotions 
!
I'm not sure about all this fuss around making shopping experiences a thing. I mean, can't we just buy what we need without feeling like we're part of some exclusive club? 
Malls hosting events and membership programs are just trying to make up for the fact that prices are going up, right? 
. Retailers need to focus on creating emotional connections with customers, not just pushing products 
. They should be willing to invest time and effort into building relationships and making sustainable products more affordable 
. Anything less would be like "playing to the last cent" 
.
, so retailers need to be on top of that too 
That's the kinda vibe Gen Z is looking for. And if retailers can create that kind of magic, they'll win over this generation 
. It's time to get creative and focus on building those relationships with customers 
.
. Retailers need to tap into emotions and build relationships with customers 
. But, as the article said, Gen Z is also super researchy 
. They want to know that their money is being spent wisely.
. Those malls are on the right track with events and membership programs, it's all about building that connection with customers 
... Gen Z is all about experiences now, not just buying stuff 
. I mean, who needs brand loyalty when you can have exclusive sales and releases that make you feel part of something special? Retailers need to get with the times and stop being all "sell, sell, sell" because that just comes off as super soulless. Gen z wants to connect on a deeper level and feel like they're part of something bigger than just a product. And let's be real, those dupes are everywhere! But gen z is still super smart and researchy, so retailers need to step up their game and make sustainable products more affordable if they want to stay relevant 
Anyway, it's all about finding balance between affordability and sustainability. Retailers need to get on board with that. 
. I love that malls are hosting events and membership programs to make customers feel part of something tho 
. And Gen Z is literally the most researchy generation ever, always checking reviews and social media before buying