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The Eaton Center in Toronto, Canada during the holiday season The holiday season 2024 and how it’s shaping up While many shoppers are ready to open up their wallets for the holiday season – savings are top of mind in 2024 and the most important retail season of the year is no exception. from 2023’s numbers.
A significant 42% of shoppers are turning to social to find the perfect gift more this year compared to 2023. This is especially true for younger consumers, as 57% of GenZ will use social more for gift inspiration. This number goes up to 21% among GenZ.
Gen Z’ers, which includes those born between 1996 and 2012, now make up 20 percent of the US population and account for $143 billion in direct spending. If you are still focused on millennials, it’s time to start paying attention to a new generation of consumers. Here are five ways to attract and keep GenZ customers.
While shoppers are still looking to save, they are also expected to spend the same amount as in 2023. Top 6 holiday shopping trends in 2024 Some of the biggest trends impacting retail for the 2024 holiday season include GenZ , travel, and frugality, just to name a few. Savvy shoppers will be on the lookout for good deals.
Affirm Affirm is a buy now, pay later service shoppers use to buy products from their favorite brands online. “Our primary demographic are Millennials, so we look very heavily at Instagram and Pinterest.
Known for its relatively low-priced apparel and wide variety, Shein became one of the most popular shopping destinations among GenZ and millennial consumers across the world. billion 2024 $50 billion Sources: Reuters , Statista Shein Downloads Worldwide The Shein app generated a total of 199.37 billion 2017 $1.55
Whereas marketers once lived and died by Millennial content consumption, a new challenger has entered the field. As GenZ emerges into adulthood, we’re seeing businesses devote more time and resources toward catering to this younger demographic. Of course, content geared to GenZ will differ from content created for Millennials.
The previous year proved difficult for retailers, with low consumer confidence and increasing cost of living tightening shoppers’ purse strings. This number was higher for millennial respondents, where three-quarters said they considered sustainability when making purchase decisions. A recent survey from McKinsey & Co.
For many brands today, marketing to GenZ might feel like trying to talk to aliens. Because at a glance, the so-called “smartphone generation” is a totally new species of consumer. Listen: GenZ’s massive spending power and dependence on social media speak for themselves. The reality, though? Translation?
Seventy percent of shoppers turn to Instagram for their next purchase, leveraging the platform’s shoppable posts and Reels. Collaborations with influencers or creators can significantly amplify your reach and resonate with GenZ and Millennial audiences. Instagram is also a powerhouse for shopping and e-commerce.
How do you adjust your marketing strategy to include GenZ without turning away your existing audience, or worse, looking like you’re trying too hard? Here’s what you need to know about GenZ to effectively market to this savvy, smart, and social-first generation. GeneralGenZ stats.
Unwrapping This Season’s Shopper Spending Plans ” points to a robust upcoming fourth quarter for retailers overall with 76% of shoppers planning to maintain or increase gift purchases this holiday season. Coveo’s “ Gift or Grinch? Of these respondents, 20% say this is an increase to their typical online grocery shopping routine.
We surveyed 500 British and Irish consumers comprised of: GenerationZ (survey respondents ages 18-23). Millennials (survey respondents ages 24-39). Generation X (survey respondents ages 40-55). The score on GenerationZ and social media. What GenZ consumers expect from brands on social media.
TikTok TikTok is a go-to platform for brands looking to partner with creatorsespecially when they want to tap into GenZ audiences and leverage short-form video. Snapchats fast-paced, immersive and ephemeral content is a strong draw for younger audiencesparticularly GenZ and Gen Alpha, who connect with the unique storytelling style.
A majority of online beauty shoppers will wait for lower prices and risk items going out of stock, a new study from D2C ecommerce company ESW finds. But there is also a sizeable number of “super shoppers” who will pay full price to get exclusive items. The majority of online beauty shoppers are looking for bargains, the study found.
Go all-in on a cohesive in-store and online consumer experience While there remains a preference for in-store shopping, the growth of online purchasing (especially among millennials and GenZ hybrid shoppers) means brands need consistent, positive customer experiences in both settings.
Their behaviours on these networks, such as the time spent and the networks used, differ.According to a 2024 report , heres how much time each generation spends on social media: GenZ: 10 hours and five minutes. Millennials: seven hours and 45 minutes. Gen X: six hours and five minutes. With over 8.5
HubSpot research shows social media is the preferred product discovery channel for GenZ, Millennials, and Gen X and one in four consumers have already bought products directly in social media apps. online shoppers. Enable social shopping. That’s a large chunk of the consumer market.
Amazon continues to be the most popular starting point for online shoppers with one exception – GenZ, according to a new survey. So it remains absolutely critical to be visible on any relevant platforms at moments when shoppers are researching and purchasing products. Why we care. By the numbers. Reviews and ratings.
Research from Sprout’s How to Reach Digital Natives report found that both GenZ and Millennials want to see brands make more use of Instagram. It’s the top social network among GenZ audiences and the third most popular among Millennials. Will Instagram Drops work for my brand?
Despite this, only 32% of retail executives say they can turn profile information, purchase history, and service interactions into tailored experiences that make shoppers feel like VIPs. Make the holidays happier for shoppers. During the holidays, shoppers’ patience tends to wear thin. Get the guide.
This is an important call-out: While you'll want to focus on social media for your lead generation efforts, it's still vital to have a strong, effective in-store shopping option for those who would like to make the final sale in person. And 55% of millennials prefer buying a product that has strong reviews.
Although Instagram ranked in third place in the poll above, you shouldn't disregard Instagram -- especially if you're targeting Gen-Z or millennials who make up the platform's primary audience. To learn the ins and outs of setting up an ad and determining which style is right for you, check out this guide.
If you’re looking for higher-spending millennials, for example, try Pinterest. Pinterest recognized that their 2020 surge in active users was likely down to shoppers staying home. Still, the millennialgeneration remains the platform’s median age. Millennial Pinners are up 35% year over year.
Most TikTok users are GenZ, making up 44.7% Moreover, 46% of GenZ consumers in the U.S. And finally, 47% of GenZ consumers in both the US and UK have made a purchase from a live stream. And let's not forget about us millennials, who make up 33.7% And I'm not the only millennial influenced.
YouGov ) Some groups are more comfortable with the metaverse than others: 40% of Gen Zers and 40% of millennials, would be interested in shopping for real or virtual products in metaverse environments that brands create. Obsess ) Nearly 75% of GenZshoppers have purchased a digital item within a video game.
GenerationZ Will Influence Marketing More than Millennials. The marketing industry has been obsessed with Millennials for the past two decades. In fact, a Google search currently yields around 129 million results for the search term “millennials”, compared to only around 7.2 Source: [link].
In July, Instagram revealed that the app will let shoppers place and track orders directly in their DMs. Social media is GenZ’s preferred channel for discovering new products. 57% of GenZ have discovered a new product on social media in the past three months. What Instagram's DM Shopping Feature Looks Like.
Some interesting findings from Botify’s survey: 44% of respondents were familiar with generative search – 58% of Millennials and 58% of GenZ were most familiar; 74% of Baby Boomers were unfamiliar with it. By the numbers. 37% of respondents tried an AI-driven search engine and found the results more satisfying.
Many customers today – especially millennials and GenZshoppers – expect personalized experiences when interacting with retailers. Building loyalty through personalization Beyond predictive analytics, the next area in which AI has a lot of potential in the retail space is through personalization.
But, since some social media shopping tools are still rather new to shoppers and brands, you might think consumers have barely used them yet. While many of the respondents above still haven't purchased a product through a social media platform, this might change as shoppers continue to embrace online shopping. If so which one(s)?"
34% of shoppers would look at dipping into their savings, and 1 in 3 would consider starting a side hustle to offset the costs. 13% of all winter holiday shoppers said an ESG stance was the most important factor when selecting a gift. However, it also says the number who do think about those stands has been steadily increasing.
Table of Contents General Ecommerce Statistics Social Media Ecommerce Statistics Ecommerce Growth Statistics Consumer Behavior and Demographics Ecommerce Statistics B2B Ecommerce Statistics B2C Ecommerce Statistics Mobile Ecommerce Statistics General Ecommerce Statistics The average number of products bought per online order is 4.95.
Overall, the starting point for product searches among online shoppers is Amazon (49%, up from 46% in 2022), followed by Google (34%, down from 35% in 2022). That survey found 38% of shoppers began product searches on Amazon, while 35% started searching on Google. Amazon and Google reign. TikTok’s YoY decline. About the study.
Images are already returned for 19% of searches on Google, and 62% of millennials say they are more interest in visual search than any other new technology. GenZ Will Continue to Influence Marketing More Than Millennials. The marketing industry has been obsessed with Millennials for the past two decades.
To further connect with their GenerationZ audience, the retailer also created a digital clothing line for Bitmoji, giving consumers the chance to personalize their Bitmoji with AE clothes. Bring your best social media campaign ideas to life.
Compared to Snapchat, TikTok, and Instagram, Pinterest, like Twitter and Reddit, had significantly fewer GenZ users in 2022. 31% of millennials in the UK with a household income of over £100K are on Pinterest More than 75% of Pinterest users are from outside the U.S. 86% of millennials use Pinterest to plan life events.
Women comprise 60% of the audience, but men and GenZ are fast-growing segments. 80% of weekly “Pinners” have discovered a new brand or product on Pinterest, making it a prime place for passive and active shoppers. 36% of GenZ and 22% of millennials search for brands on social media more often than through search engines.
In case you haven’t noticed, TikTok is no longer just a place to learn trending dances or keep up with GenZ. That’s because 63% of GenZ use TikTok on a daily basis. But that doesn’t mean GenZ is the only group seeking a shopping experience on the app. Boom: conversion rates through the roof!
Millennials make up the largest demographic in the content creator economy, with GenZ making inroads as well. This demographic shift reflects the evolution of content creation from a niche role into a viable profession for younger generations. Millennials: 42% of content creators 8. Who are the content creators?
of internet users worldwide aged 16 to 64 make an online purchase each week ( DataReportal ) On average, annual spending per online shopper worldwide reached $1,109 in 2023. important”> Product Category Share of US Digital Buyers (who made a purchase in the past month) Clothing 67.1% Beauty products 43.1% Household supplies 40.9%
Consumers can easily consult with their friends on purchases, show off those hip new hightops, comment on Aunt Jackie’s new “I Love My Niece” tee, review comments from other savvy shampoo shoppers, and interact directly with the kombucha brands they love. It’s where Millennials and GenZ like to shop. Source: Facebook.
According to McKinsey, consumers — and especially GenZ — value authenticity above all. And the most effective, too: 55% of Instagram shoppers have purchased clothing after seeing an influencer wear it, for example. Budget-tracking app Mint does this well with their personal finance advice aimed at a Millennial/GenZ audience.
There is no denying that Millennials and GenZ have immense purchasing power. Even if they don’t have as much income compared to Gen X and Boomers yet, Millennials and GenZ are spending. And the younger generations who are spending more happen to be into short form content.
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