How Gen Z and the modern consumer shifted their preferences on luxury shopping
By
Mark Pumper
The modern shopper looks to engage with brands at multiple touch points, both digitally across social and web platforms, as well as in store and events. This is the modern omni-channel shopping experiences.
The modern shopper is tech savvy and curious. When comparing Gen Z to millenials, there is a big difference. Online shopping is a relatively new possibility, and millenials are the generation that was introduced to online shopping as this new, fun, exciting, and convenient tool. During the course of their lifetime, they went to the department store with their parents, and now they’re able to go online and shop.
For millenials, the new possibility of online shopping is not just fun, but also convenient. When you think about the life stage that they’re in right now such as buying homes, moving to different states, growing their careers, getting married, having kids — this need for convenience matched with the excitement around online shopping as a new tool for them has made digital platforms an interesting new possibility and tool for commerce.
This is not the case for Gen Z — this generation has been born into the technology era. They not only want, but expect to shop across both digital and physical channels all the time. They might go online while they’re at school or work, browse website or social channels for products and stories, then decide they want to go to the store for fun to enjoy the in person experience and actually touch, feel and try on the product that they are considering purchasing.
A Gen Z consumer comes across a product they’re semi-interested in; they haven’t made a purchase yet. They get home; suddenly they see an Instagram ad for a similar product or brand, and they hit “shop now,” and they purchase through Instagram, or they type the product title into the brands ecommerce website to see the product as it is displayed by the brands digital platform. That shopping journey touched on brick and mortar, it touched on ecommerce online on their laptop, and it touched on mobile. It’s a holistic experience that requires brands to consider what their omni-channel experience is and how they’re involving the modern consumer.
There are so many different ways for modern consumers to make a purchase, both online an offline. Ease of purchase and convenience is a quick win for modern brands.
Luxury Means Unique
Brands are more then just their logo and brand name that is worn as a status symbol — Gen Z shoppers are looking for unique items that set them apart.
Modern consumers are faced with information overload in every direction they look. When it comes to engaging with luxury brands, There’s a lot of contradictory things they’re hearing out there, and so trust is kind of difficult for them.
They don’t want to fit in with a certain crowd or be labeled a certain way. They want to be themselves, and be able to express themselves in a way that reflects how they feel.
The difference between past generations and the modern shopper is a shift in mindset. Gen Z is not inspired by what a brand is saying. They are shaping their perception of a brand through the different touch points and interactions that they may have with a brand.
In comparison, a millennial may be looking for more of a status symbol — Gen Z shoppers are looking more for pieces that shows that they’re different; that they’re unique. If they find it from a luxury brand, then they’re absolutely willing to pay for it.
Marketing campaigns via digital and physical touch points allows for luxury brands to have a voice and stay relevant with modern consumers.
Influence Through Media
The modern consumers is influenced not only by word of mouth, but also through social media, TV, and advertisements in the world around them.
For older generations the most advanced form of digital media was watching a television and seeing what commercials and advertisements are playing between shows. As the TV is considered a modern technology, there was a level of newness around that (long ago).
For modern consumers, there is television combined with word of mouth, with an additionally new channel of media from what friends, family and influencers are saying and posting about on social media.
There is a new realm of information for Gen Z that was previously unavailable — with experts and influencers broadcasting their point of view on experiences and brands alike, there is a new touch point for brands to interact with consumers.
Modern consumers can learn about a brand through their website, their social channels, and other advertisements such as campaigns or billboards — they can access a larger network that allow them to form a deeper sense of a brand through trusted influencers
As a modern brand, there is an opportunity to think about communicating with consumers through multiple touch points so that they understand who and what you are.
In person experiences such as pop-ups, stores and events can be the connection between the digital and physical brand experience.
Interested in learning more about how Experiential Web can help drive customer engagement with your brand? We’re here to help! To set up a brainstorming session, contact us today at info@espyus.com
