‘If you're not telling your story, someone else is’
Visha Kudhail, Author of Authentic Marketing, shared her insights into scaling your brand in an event held in partnership with Quiet Storm and Bauer Media Outdoor.
The report, from Snapchat and Portas, explores the importance of shared experiences and memory-making.
Despite being the first digitally native generation, a new report from Snapchat and Portas has uncovered that Gen Z shoppers prefer going in-store to buying something online.
The retail-focused research directly challenges stereotypes of Gen Z to get to the heart of what younger shoppers are seeking today. In a world of speed and convenience, Gen Z are actually looking for connection, shared experiences and memory-making.
Following YouGov research, which explored the shopping habits of more than 2000 Gen Z consumers, Portas and Snapchat have unveiled the findings in The Memento Generation report.
Over half of Gen Z (51%) prefer going in-store for the experience over buying something instantly online. 41% say they most enjoy shopping in-store with friends or family. And, 59% of Gen Z shop at least sometimes primarily to spend time with others rather than to buy something.
The research tells the story of a generation seeking connection, despite having had access to instant communication and retail at their fingertips. Increasingly, Gen Z are placing value on experiences and seeking something more than transactional.
“Gen Z has grown up in an on-demand world, so convenience is expected. But our research shows something deeper is happening culturally. This generation is increasingly building identity and connection through shared experiences, moments and memories rooted in the real world. Shopping is becoming less about accumulation and more about meaning, discovery and social connection,” says Rachel Levy, Head of Retail, Lifestyle and CPG at Snap UK.
Gen Z has grown up in an on-demand world, so convenience is expected.
Rachel Levy, Head of Retail, Lifestyle and CPG at Snap UK
The report points to the growing importance that Gen Z is placing on experience. 75% visit physical stores to see products in real life or try them on while 71% value being able to see, touch and try products in-store.
Contrary to the assumption that young people seek instant gratification, the report finds that more than half of Gen Z (61%) said they would queue for over 15 minutes for something they really wanted. While Brits famously love to hate the queue, the research found that Gen Z said the effort of waiting for something increased the emotional value of the experience.
“Young people are craving real-world experiences, connection with friends and moments that make them feel something. They want stories they can tell, memories they can collect and experiences that become part of who they are,” explained Mary Portas OBE, Broadcaster, author, activist & founder of Portas Agency.
The research found that 63% have purchased something mainly because of the experience around it.
The research also explored how retail is connecting Gen Z, shopping is a social experience and is being increasingly discussed amongst social circles in group chats.
83% of respondents said that they send photos or videos of products they’re considering buying to friends or family before purchasing and 47% have purchased something after sharing it in a group chat and receiving a positive response. People are putting more trust in the people that they know and making collaborative decisions with their friends.
The social insight shows how the retail experience is built through both physical and digital touchpoints as young people increasingly live their lives both on and offline.
“For years, people have lazily written off Gen Z as a generation obsessed with screens, speed and instant gratification. This research proves something far more hopeful and human,” added Portas. Continuing: “What we’re seeing is The Memento Economy. It’s not about owning more stuff but about the meaning attached to the moment. Retailers who understand this have an extraordinary opportunity right now.”
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