The retail industry is on the cusp of a major paradigm shift. If you’re thinking that it’s the collapse of physical retail — think again.
Generation Z, the first generation of true digital natives, is currently coming of age. They account for about 25% of the population, and they’re expected to make up 40% of consumers in the US by next year.
They’re a huge market force and, contrary to generations before them, they’re showing quite a preference for shopping in-store as opposed to online.
Gen Z Flips the Script
Generation Z has always existed in a world with the internet. It’s been a given for them their entire lives. Yet despite the huge eCommerce infrastructure they’ve always had access to — which developed as the Millennial generation grew up — a whopping 80% of Gen Zers enjoy shopping in physical stores.