Consumer Shopping Behavior
Gen Z and Boomers not only differ in terms of their age but also in terms of their habits and values. Insights into their online shopping behavior as well as their psychographics have been detailed below.
Gen Z Online Shopping Insights
Gen Z is one of the generations who prefer online shopping. A few insights into their online shopping behavior are given below.
- 59% of Gen Z are likely to click on ads while using the internet and the same percentage, i.e. 59%, even buy products recommended in the ads.
- 67% of Gen Z discover new products and brands through sponsored ads.
- 71% of Gen Z say they are impressed by the products they see in online ads.
- 41% of Gen Z have clicked on sponsored ads in search results, while 30% of them purchased the product online and 20% of them purchased the product offline.
- It goes without saying that Gen Z, as well as millennials, is fond of social media. They not only use social media for being social but also look forward to purchasing things directly from social media.
- To put it into perspective, more than two-thirds of Gen Z "are interested in purchasing via social media directly."
- For 44% of them, social media is the go-to place for product inspiration.
- 37% of the survey respondents reported having increased their use of social media to aid purchase decision-making.
- Speed is important to Gen Z shoppers and they want everything to be speedy, including the online shopping experience, the delivery, and accessibility to the latest fashion.
- 60% of them would most likely abandon the website if it loads slowly.
- Delivery speed is also important and 58% would pay over $5 if the shipment is made within one hour of ordering.
- A poor online experience can turn away as many as 22% of Gen Z shoppers.
- Pictures and videos play an important role in attracting Gen Z shoppers.
- YouTube is the most popular social media platform among Gen Z shoppers.
- 66% of Gen Z shoppers use Instagram as opposed to only 44% of millennials.
- Gen Z shoppers prefer shopping online and even through their phones. Online shopping is more popular as 24% of them prefer to shop online as compared to mobile (13%).
- More than 40% of Gen Z shoppers purchase over 50% of consumer electronics and apparel online.
- Although 80% of Gen Z shoppers prefer to shop in-store, provided they have the time for it, 75% reported opting for online shopping just out of convenience.
- Product quality, value, and availability are things that Gen Z cares deeply about.
- High quality of products is a factor that matters to 66% of Gen Z shoppers.
- Products being out-of-stock is not a fun experience for Gen Z and 66% would prefer products to be available.
Baby Boomers Online Shopping Insights
Baby Boomers are one of the generations who prefer in-store shopping although they do not shy away from online shopping as well. A few insights into their online shopping behavior are given below.
- According to a report, 92% of Baby Boomers shop online.
- Boomers spend 3.4% more on fitness equipment, vitamins, and health products as compared to their parents' generation.
- Boomers have also been reported to be purchasing "products and solutions that will save them time and effort in their daily lives, while those on the brink of retirement could be seeking out hobby supplies and travel gear."
Time and Money Spent Online
- Although Baby Boomers might not be as active online as Gen Z, they do spend 27 hours every week online.
- On average, people aged over 50 spend as much as $7 billion online each year.
- As stated earlier, 92% of Boomers are active online, however, being active is not the only thing that they do, they also spend more than the younger generations.
- On average, Boomers spend $203 on each online purchase, leaving millennials far behind when it comes to their basket size.
- Over 50% of Boomers reported continuing their research using search engines or visiting a company website after having seen something on a social media platform.
- More than 82% of Boomers use at least one social media platform with most of them favoring Facebook.
- 43% of Boomers are likely to click on ads while using the internet and 40% even buy products recommended in the ads.
- 57% of Baby Boomers discover new products and brands through sponsored ads.
- 62% of Boomers say they are impressed by the products they see in online ads.
- 27% of Boomers have clicked on sponsored ads in search results, while 7% of them purchased the product online and 6% of them purchased the product offline.
- Boomers look for value when shopping for products as opposed to price.
- 77% of Boomers are most likely to purchase a product if it provides them value, regardless of its price tag.
Gen Z Psychographics
Gen Z has a unique set of habits, values, and belief systems as compared to other generations, especially the one closest to them in terms of age, i.e. millennials. A psychographic profile of Gen Z has been developed below, including insights into their habits, values and beliefs, attitudes, opinions, and hobbies.
- Gen Zers consume media through several different devices including TV, laptop, and smartphones.
- While many marketers focus on social media when trying to target Gen Z, users from the generation have been reported to consume media through 'less-popular' platforms. On average, Gen Zers watch 13.2 hours of television in a given week.
- 55% of Gen Z prefer to buy products as opposed to DIY (Do It Yourself).
Values and Beliefs
- Gen Z is the 'always-on' generation as opposed to Gen Y, who prefer not to confuse their careers with their lives, and Gen X, who prefer to balance work with family time.
- 60% of Gen Z wants to change the world.
- 17% of Gen Z workers want to start their own business.
- 75% of teenagers look forward to converting their hobbies to their full-time jobs. 72% of high-school students look forward to starting a new business. 61% believe in becoming an entrepreneur rather than an employee.
- Members of Gen Z are most likely to be technologically-savvy, conduct online research, and prefer entrepreneurship & innovation.
- Millennials as well as Gen Z, especially young men, use ad-blocking software. There are 45 million users in the US with a 41% increase in usage in 2019.
- 34% of Gen Z are focused on improving their manpower management skills.
- 27% of Gen Z prefer ads that feature celebrities as opposed to 20% who prefer ads that create an emotional connection.
- While millennials have been well-known to enjoy experiences over products, the same cannot be said about Gen Z. 60% of Gen Z prefers products over experiences.
- 57% of Gen Z prefer to purchase unique products as opposed to popular ones.
- 46% of Gen Z are tech experts and are referred to as 'digital natives', who keep connected over 10 hours each day.
- Gen Z's hobbies include music/playing an instrument, sports, gaming, reading, cooking/baking, fitness, art, TV/Netflix, crafting, dance, writing, sewing/knitting/crochet, travel, running, outdoor activity, movies, walking/hiking, photography, shopping, and food.
Baby Boomer Psychographics
Baby Boomers are known to be different in terms of their habits, values, and beliefs. A psychographic profile of Boomers has been developed below, including insights into their habits, values and beliefs, attitudes, opinions, and hobbies.
- Baby Boomers prefer using the desktop as opposed to smartphones and tablets.
- Boomers are self-sufficient when it comes to shopping and only 12% rely on family and/or friends to help make a decision.
- Baby Boomers love shopping in-store as 84% voted for it to be their preferred method.
Values and Beliefs
- Baby Boomers have been known to be very conscious about their health and fitness.
- Contrary to their elders, Boomers do not want to relax when they retire but to fulfill everything they have ever dreamt of.
- Baby Boomers are self-centered and are called the "me generation".
- They usually have individualistic attitudes and prefer to have freedom.
- Baby Boomers are far more demanding as compared to other generations and they are "most likely to write off a retailer if a sales associate didn’t appreciate their business, if a store was messy and if returns were a hassle."
- Baby Boomers do not think of themselves as the aging generation.
- Boomers are not loyal to brands as opposed to other generations. They are not likely to prioritize brands that they used while growing up as opposed to other generations.