Selling to Gen Z During BFCM/Cyber 5
Whether you call it Black Friday/Cyber Monday (BFCM) or Cyber 5, the holiday shopping season is almost here, and online brands are gearing up. In past years, we’ve heard a lot about how Baby Boomers, Gen X, and Millennials have impacted the retail market, but this year eCommerce brands have a new group of shoppers to appeal to: Gen Z.
Who Are They?
Gen Z, or Zoomers, are those born between 1997 and 2012. The older segment of the group now has money to spend and is ready to do so. According to Newsweek, Zoomers have collective buying power of over $140 billion. However, if brands want to connect with this group of shoppers and their money during BFCM, they better meet certain expectations.
What Makes Gen Z Tick?
Apptus.com claims that 77% of Zoomers actively support causes they believe in and that 23% of them have boycotted brands. Newsweek agrees, stating that members of Gen Z favor brands that share their values. Zoomers take into consideration whether retailers act in accordance with their beliefs or just say they do.
Gen Z and Technology
Gen Z uses eCommerce technology differently than their older counterparts. Although they’re very comfortable with online shopping, they enjoy in-store shopping and see it as a social event. However, they are more likely to use their phones in-store to read online product reviews and to access digital discount codes. They are the first generation to expect retailers to supply in-store QR codes so they can quickly scan and learn more about products they want to buy. Zoomers are also more likely to use buy-now-pay-later (BNPL) than older shoppers. Additionally, although Boomers, Gen X, and Millennials all prefer email as a channel for retail marketing and communication, Data Axle shares that Gen Z prefers social media over email to receive product promotions and discount codes.
Gen Z and Inflation
Zoomers are concerned about inflation and it’s playing a role as they set their holiday shopping budgets. YPulse.com reports that the majority of Zoomers and Millennials plan to shop during BFCM, but 80% of that majority say they would prefer that brands offer deals before then. These younger shoppers have revealed that they will only buy on-sale items this holiday season in an attempt to stay on budget.
What this Means for eCommerce
Gen Z is the first group of shoppers to grow up with online shopping, and they are ready to take omnichannel eCommerce to the next level. Brands that respond will grow with this group, but those that don’t will lose relevance. Make sure your eCommerce site is fast enough to keep up with the next generation of shoppers. Request a FREE Site Performance Snapshot now!