Discovers Generational Shift in How Gen Z and Millennials Shop Beauty Trends
HRC Retail Advisory Unveils New Consumer Shopping Behaviors
NORTHBROOK, Ill. --(BUSINESS WIRE)
More than 90% of Generation Z say that a strong wi-fi signal is important to them and their overall shopping experience, according to a survey conducted by HRC Retail Advisory (HRC), a leading strategic retail advisory firm. Emerging in-store technologies and positive social media feedback are among the top priorities for both Generation Z and Millennial consumers. The survey, which also revealed a generational shift in how these consumers shop for beauty products, represents the first in a series centered around Generation Z and Millennials’ attitudes, behaviors, and shopping preferences.
“Millennial and Generation Z’s use of technology in-store, their need to stay connected to friends via social media while they shop, and how they’re shopping beauty trends is changing consumer spending patterns. While the latter generation was born with a smartphone in hand, it doesn't keep them from shopping – and even preferring to shop – in brick and mortar stores, as long as they have access to their ever-important social network,” said Farla Efros, President of HRC Retail Advisory. “Generation Z in not only powerful on their own, but they are the ones dragging their Millennial parents (who prefer to shop online), back into the mall as well. Understanding these consumer segments and how they apply to a retailer’s business will be essential, as both of these generations will be crucial to retail strategies going forward.”
To better understand the growing influence of Millennial and Generation Z consumers and the implications for retailers, HRC recently surveyed 1,350 participants in North America on their attitudes, behaviors and influences driving their shopping purchases.
Significant findings of the survey include:
Magic Mirrors & Retail Apps Enhance In-Store Experiences
Social Networks Drive Purchase Decisions
Discounts & Influencers Are Key to Shopping Beauty
Notes on Survey Methodology and Analysis
HRC Retail Advisory’s survey findings are based on a targeted sample of two distinct demographics: Millennials (ages 18-41) and Generation Z (children ages 10-17). The sample size was 675 per group. Respondents were asked about their attitudes and behaviors as it relates to shopping and shopping influencers. The survey was fielded from March 9 – 21, 2017, and was completed through proprietary sample sources amongst panelists who participate in online surveys. The total sample size was 1,350 completes.
About HRC Retail Advisory
HRC Retail Advisory is a leading strategic retail advisory firm based in Northbrook, IL that helps retailers unlock value across key operating functions: including helping retailers to develop cost-effective cost infrastructures to transform their businesses in this new economy, enhance merchandise strategy, margin and inventory optimization, merchandise planning and allocation, store operations including more effective labor management and more cost-efficient supply chains. For more information, visit www.HRCadvisory.com.
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