{"id":5351,"date":"2019-12-10T14:50:00","date_gmt":"2019-12-10T14:50:00","guid":{"rendered":"https:\/\/genhq.com\/?p=5351"},"modified":"2022-08-27T11:19:56","modified_gmt":"2022-08-27T11:19:56","slug":"cgk-featured-on-npr-marketplace-explaining-gen-z-as-consumers","status":"publish","type":"post","link":"https:\/\/genhq.com\/cgk-featured-on-npr-marketplace-explaining-gen-z-as-consumers\/","title":{"rendered":"CGK featured on NPR Marketplace explaining Gen Z as consumers"},"content":{"rendered":"<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-5353\" src=\"https:\/\/genhq.com\/wp-content\/uploads\/2019\/12\/genz-shopping-npr-2.jpg\" alt=\"Gen Z Shopping\" width=\"1000\" height=\"334\" srcset=\"https:\/\/genhq.com\/wp-content\/uploads\/2019\/12\/genz-shopping-npr-2.jpg 1000w, https:\/\/genhq.com\/wp-content\/uploads\/2019\/12\/genz-shopping-npr-2-300x100.jpg 300w, https:\/\/genhq.com\/wp-content\/uploads\/2019\/12\/genz-shopping-npr-2-768x257.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/p>\n<p>This reflects a larger trend: Gen Z prefer to shop in traditional retail outlets but also expect improved personalization, better overall value, and a stronger focus on experiences. This is particularly true from brands that once relied mainly on location, price, and brand recognition to stay competitive.<\/p>\n<h2>Gen Z learned fiscal responsibility from Gen X parents during the last recession<\/h2>\n<p>Growing up with Gen X parents who often struggled through the economic recession of the last decade, Gen Z learned the benefits of fiscal responsibility at a young age. They consistently prioritize value in a variety of forms: lower prices, better warranties, product durability, and unique shopping experiences. Black Friday, a commercial event built on the premise of exceptional price cuts, appeals directly to Gen Z\u2019s price sensitivity.<\/p>\n<p>\u201cGen Z was old enough to understand what was going on [during the Great Recession],\u201d says CGK\u2019s President Jason Dorsey on a recent <a href=\"https:\/\/www.marketplace.org\/2019\/11\/29\/gen-z-most-likely-to-shop-in-store-on-black-friday\/\" target=\"_blank\" rel=\"noopener\">episode<\/a> of NPR Marketplace. \u201cThey felt the anxiety, the stress, the pressure of it, and yet they were young enough for it to change their values.\u201d<\/p>\n<p>Gen Z\u2019s big showing for Black Friday doesn\u2019t necessarily mean a sales spike for every retail outlet, though. Our youngest generation of consumers brings a distinct set of attitudes and behaviors\u2014along with tons of buying power\u2014to the marketplace. Brands and stores will need new strategies to harness Gen Z\u2019s unique expectations for the shopping experience and keep them as consumers long term.<\/p>\n<h2>Gen Z prefer to shop in brick-and-mortar retail outlets, but they look for new differentiators<\/h2>\n<p>Gen Z are the first generation of digital dependents\u2014per CGK\u2019s <a href=\"\/the-generations-hub\/state-of-gen-z\/\">research<\/a>, 61% spend at least five hours each day using their smartphones. In fact, 31% \u00a0of Gen Z feel uncomfortable after being separated from their phone for longer than thirty minutes. Technology and connectivity are inextricable from Gen Z\u2019s daily reality, and therefore a lynchpin in their shopping experience and expectations.<\/p>\n<p>It seems intuitive, then, that Gen Z would prefer to shop online using their smartphones\u2014but that is not what is happening. A new A.T. Kearney <a href=\"https:\/\/www.atkearney.com\/retail\/article\/?\/a\/selfcare-offers-brick-and-mortar-retailers-an-increase-in-traffic-and-mindshare\" target=\"_blank\" rel=\"noopener\">study<\/a> reports that 81% of Gen Z respondents prefer to purchase in stores. 73% like to discover new products in stores and 58% browse in-store selections to disconnect from social media and live in the moment. However, if that experience is compromised with long lines or higher prices, they are likely to pull out their phones and turn to online outlets to complete their purchase.<\/p>\n<h2>The rise of Gen Z presents both a challenge and a huge opportunity<\/h2>\n<p>\u201cGen Z are expecting retailers to have more information about them and make better marketing decisions when trying to engage them,\u201d says Jason (check out his Q&amp;A <a href=\"https:\/\/jasondorsey.com\/generations-video-qa\/\" target=\"_blank\" rel=\"noopener\">video<\/a> on Gen Z and retail). \u201cRetail leaders have an incredible opportunity to harness Gen Z shopping attitudes and tap directly into an emerging generation of consumers.\u201d Will you adapt? If so, Gen Z is ready!<\/p>\n<p><em>Would your organization benefit from specific strategies for creating a retail or shopping experience that quickly attract Gen Z consumers?\u00a0<\/em><a href=\"\/contact\/\"><em>Contact us here<\/em><\/a><em>\u00a0and we will set up a call to see how we can be a resource through our acclaimed Gen Z consumer keynote speeches or custom research. We are passionate about unlocking the potential of every generation!<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This reflects a larger trend: Gen Z prefer to shop in traditional retail outlets but also expect improved personalization, better overall value, and a stronger focus on experiences. This is particularly true from brands that once relied mainly on location, price, and brand recognition to stay competitive. Gen Z learned fiscal responsibility from Gen X [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":5352,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[28,23,21],"tags":[],"class_list":["post-5351","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gen-z","category-media","category-selling-and-marketing"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CGK featured on NPR Marketplace explaining Gen Z as consumers - The Center For Generational Kinetics<\/title>\n<meta name=\"description\" content=\"This reflects a larger trend: Gen Z prefer to shop in traditional retail outlets but also expect improved personalization\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/genhq.com\/cgk-featured-on-npr-marketplace-explaining-gen-z-as-consumers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CGK featured on NPR Marketplace explaining Gen Z as consumers - 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