There are two segments of the population that are experiencing first-hand, more than others, the difficulties of facing fundamental stages of their lives in the midst of a pandemic and a historical crisis. They are the kids born and raised between the 80s and the 90s and those born between 1990 and 2010. The two targets seem to have many points in common, but they also have divergences. For Millennials and Generation Z, the purchases, for example, change both in terms of methods and channels and in terms of expectations related to companies and brands.
Difference between Gen Z and Millennials in purchasing
A common trait between Millennials and Generation Z for shopping is the preference for ecological products and services, made with respect for the environment. According to a study by GlobalWebIndex, this orientation concerns 64% of Gen Z and 63% of Millennials are willing to pay more for an "ecological" product. A difference between Gen Z and Millennials as far as shopping is concerned, however, it is linked to payment methods. From the aforementioned survey we also know that Gen Z focuses on mobile usage: the 97% owns a smartphone. However, young people under 20 are more likely to spend their money in a more concrete and pragmatic way, unlike Millennials. Young consumers are more likely to support small local retailers instead of multinationals. Are you interested in learning more about their purchasing behavior? It can give you support University box, specialized in student marketing for over 16 years.
Physical vs. Online Store: What Do Young People Prefer?
Both categories limit their outgoings to what is necessary, waiting before making large investments and tackling major expenses. The acquisitions made by Millennials and Generation Z They focus on the essentials. Compared to shopping, they show a more moderate and less impulsive attitude, unlike their parents, uncles and grandparents. They spend their money more wisely. Physical store vs online: which of the two types wins for them? Some market research has shown that Gen Z kids prefer to live the classic shopping experience in a physical store, touching and trying out first-hand the products they want to buy. Do you want to know how to move both in retail and e-commerce to reach these targets? Contact University box.