The young generation is ahead every older one as far as shopping is concerned, as they research about the brand and the products before shopping for them, especially in the case of those brands which make hollow claims. As per public relations firm Edelman, 7 out of 10 youth from Gen-Z (born between 1997 and 2012) fact-check company claims. A study conducted on the youth of the USA and Europe reveals that due to the suspicious behaviours of some brands, the youth boycotted them.
According to market research firm Forester, young consumers are actually the barometer of consumer behaviours. McKinsey’s study says that after 2008’s recession and the pandemic, because of the uncertainty related to the future, the youth are spending their limited income lavishly, and are getting involved in luxury shopping at the age of 15. The last generation started shopping luxury at 19. The young prefer paying through their phones, and do not wait to switch in case of a problem with the payment.
From fashion to furniture, rather than buying the products completely, they prefer renting them, and the young love shopping physically by visiting showrooms, and they select such places for the same where they get special experiences, and it is better if the experience is a mix of physical and virtual. For the same, many big brands are trying out novel techniques on their websites to enable users to customize their designs.