Gen Z is redefining retailing, declared Adyen, a global financial technology platform, citing a survey it conducted where 73% of 18-27-year-olds said they shop in-store at least once a week compared to 65% of Baby Boomers.
When asked whether they considered shopping in physical locations a chore or an enjoyable experience, 57% of Gen Z called it an experience versus 35% of Baby Boomers.
The appeal is a a mix of convenience and entertainment, Ayden noted, with 49% of Gen Z shoppers saying they often buy online and pick up in-store and 38% saying they return online purchases in-store. By comparison, Baby Boomers use of stores for pick ups and returns is 28% and 6%, respectively. On the flip side, nine in 10 consumers aged 60-78 do their grocery shopping in person, compared to 60% of 18-27 year olds.
In other general comparisons, Ayden maintained:
- 45% of GenZers spend more in-store with 37% spending more online.
- 44% of Millennials spend more in-store with 34% spending more online.
- 48% of GenXers spend more in-store with 28% spending more online.
- 53% of Baby Boomers spend more in-store with 27% spending more online.
- 61% of the Silent Generation spends more in-store with 14% spending more online.
- 38% of GenZers typically make expensive purchases online compared with 37% who prefer in-store for high-ticket items.
- 41% of Millennials prefer in-store for expensive purchases compared with 31% who prefer in-store for high-ticket items.
- 44% of GenXers prefer in-store for expensive purchases compared with 26% who prefer in-store for high-ticket items.
- 49% of Baby Boomers prefer in-store for expensive purchases compared with 22% who prefer in-store for high-ticket items.
- 61% of the Silent Generation prefers in-store for expensive purchases compared with 17% who prefer in-store for high-ticket items.
Although they enjoy in-store shopping, 60% of GenZers will abandon their purchases if checkout lines are too long, Ayden pointed out. If their preferred payment method isn’t available, 28% will abandon an in-store purchase.
“Gen Z demands shopping experiences that reflect their digital-first mindset: effortless, flexible, and deeply integrated into their daily routines. Retailers that align with these expectations will define the next era of commerce,” said Davi Strazza, Adyen President of North America, in announcing the survey findings.
