Table of Contents
Executive Summary
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- Top takeaways
- Market overview
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- Figure 1: Population by generations, 2021
- Figure 2: Distribution of generations by race and Hispanic origin, 2021
- Impact of COVID-19 on Gen Z
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- Figure 3: Short-, medium- and long-term impact of COVID-19 on Gen Z, April 2021
- Opportunities and challenges
- Gen Z spending power is massive; yet, spending remains scaled back – for now
- Using social to connect, play, and shop
- Establishing communities
- Incorporating tech to entice Gen Z
Gen Z Consumers – Key Takeaways
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- Gen Z takes up its fair share of space within generations
- Diversity is central to Gen Z
- Being environmentally friendly is a must
Gen Z Consumers by the Numbers
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- Gen Z by the Numbers
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- Figure 4: Population by generations, 2021
- Gen Z Demographic Breakdown
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- Figure 5: Distribution of generations by race and Hispanic origin, 2021
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- Figure 6: Gen Z age breakdown: Teens v. Adults, 2021
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- Figure 7: Gen Z gender breakdown, 2021
- Impact of COVID-19 on Gen Z
- Learnings from the Great Recession
Market Factors
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- Even as digital natives, Gen Z wants to feel safe online
- Gen Z looks for work to get them back on track
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- Figure 8: Unemployment and underemployment, January 2007- January 2021
- Tech: platforms for connection
- Gen Z: The conscious consumer
- Silence is not an option for Gen Z
- Gen Z expects brands to do their part for the environment
Companies and Brands – Key Takeaways
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- Offering options for sustainability
- Incorporating Gen Z into R&D
- Offering ways for Gen Z to shop as best for them
Competitive Strategies
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- Poshmark entices Gen Z to shop sustainably and turn a profit
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- Figure 9: Shopping smart with Poshmark
- Focusing on DEI with Aerie
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- Figure 10: AerieREAL-ness Campaign
- Livestream shopping with Instagram
Market Opportunities
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- The need for sustainability
- Involving Gen Z in the research process
- Fostering online communities
- Rising popularity of NFTs creates opportunities with Gen Z consumers
- Using gaming to reach Gen Z
The Consumer – Key Takeaways
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- Connecting early with Gen Z teens
- Family plans provide freedom and flexibility
- Helping Gen Z find their communities
- Gen Z: Cash-strapped and looking for opportunities
Understanding Gen Z Adults and Teens
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- Online shopping is priority for Gen Z
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- Figure 11: Online shopping frequency, February 2021
- COVID-19 encouraged even more online shoppers
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- Figure 12: Online shopping pre/post COVID-19, Gen Z adults, February 2021
- Figure 13: Online shopping pre/post COVID-19, Gen Z teens, February 2021
- Opportunity to drive Gen Z shopping online across categories
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- Figure 14: Products bought online, February 2021
- Teen Spotlight: Parents are still heavily involved in purchases
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- Figure 15: Who pays for items, February 2021
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- Figure 16: Teen spending money, February 2021
Retailers Shopped
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- Amazon’s dominance is helped by family plans
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- Figure 17: Where shopped, February 2021
- Social media is a main meeting spot for Gen Z adults and brands
- Men enjoy ease and convenience; women enjoy exploration
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- Figure 18: Where shopped – Gen Z adult, by gender, February 2021
- Building relationships early with teens of both genders
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- Figure 19: Where shopped – Gen Z teen, by gender, February 2021
Learning and Information
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- Building trusted communities for teens and adults
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- Figure 20: Sources of information, February 2021
- Gen Z Adults: women turn to personal sources; men find their own answers
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- Figure 21: Sources of information, Gen Z adults by gender, February 2021
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- Figure 22: Glossier product showcase
- Gen Z teens seek peer approval as they establish their habits
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- Figure 23: Sources of information – Gen Z teens, by gender, February 2021
Behaviors and Important Factors When Shopping Online
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- Gen Z will put in effort to find a deal
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- Figure 24: Actions before purchase, February 2021
- Gen Z expects a superb overall experience
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- Figure 25: Important factors when shopping online, February 2021
- Providing adults with convenient experiences at all angles
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- Figure 26: Top important factors, Gen Z adults, February 2021
- Providing more fun for teens
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- Figure 27: Top important factors, Gen Z teens, February 2021
Attitudes toward Shopping Online
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- Research, information, and search process
- Gen Z Adults explore their options before making a final decision
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- Figure 28: Attitudes toward shopping online –Research, information, and search process, Gen Z adults, February 2021
- Teens investigate flexible options, for them and their parents
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- Figure 29: Attitudes toward shopping online – Research, information, and search process, Gen Z teens, February 2021
- Brand values
- Gen Z adults stick to their values
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- Figure 30: Attitudes toward shopping online – Brand values, Gen Z adults, February 2021
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- Figure 31: Nike Refurbished
- Gen Z Teens are still establishing what they believe and who they trust
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- Figure 32: Attitudes toward shopping online – Brand values, Gen Z teens, February 2021
- Shopping behaviors
- Adults need brands to be a skillful partner in the shopping process
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- Figure 33: Attitudes toward shopping online – Shopping behaviors, Gen Z adults, February 2021
- Gen Z Teens want brands to allow them to explore, and give them room for error
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- Figure 34: Attitudes toward shopping online – Shopping behaviors, Gen Z teens, February 2021
- Social media
- Gen Z Adults seen convenient benefits of social commerce
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- Figure 35: Attitudes toward shopping online – social media, Gen Z adults, February 2021
- Gen Z Teens gravitate toward social media for play and purchase
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- Figure 36: Attitudes toward shopping online– social media, Gen Z teens, February 2021
Appendix – Data Sources and Abbreviations
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- Data sources
- Consumer survey data
- Abbreviations and terms
- Abbreviations
- Generations, if discussed within this Report, are defined as:
Appendix – The Consumer
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