In the digital age, understanding consumer behavior is no longer a mere luxury; it has become an essential aspect of success in any business. As we delve into the online consumption habits of Generation Z, it becomes clear that traditional marketing strategies are no longer sufficient to capture their attention.To truly grasp what drives these tech-savvy shoppers, businesses must tap into a goldmine of data known as ecommerce metrics. These powerful insights offer a glimpse into the minds of Gen Zers as they navigate virtual shopping aisles and make purchasing decisions from the comfort of their screens. Understanding their habits we can understand their way of interacting with the digital environment. Let's take a look at some statistics:
They are known as Digital Natives: GenZ spends a significant amount of time online, with 98% of them owning a smartphone, according to a study by Adobe.
Mobile-first generation: according to a report by Think with Google, with an astounding 95% of them owning smartphones, it's clear that traditional methods of advertising and marketing are evolving rapidly.
Online Shopping: according to a recent survey conducted by Shopify, it seems that Gen Z individuals are increasingly favoring the convenience and ease of online shopping over traditional brick-and-mortar stores. A striking 67% of those surveyed expressed their preference for virtual retail experiences.
Influence of Online Reviews: PowerReviews survey reveals that 95% of Gen Z shoppers actively seek out online reviews before committing to a purchase. They understand that behind every glowing star rating lies valuable insights from real people who have already experienced what they are about to embark on. These virtual wordsmiths become trusted advisors guiding them towards or steering them away from products or services.
Online Brand Engagement: A report by IBM found that 54% of Gen Z individuals are willing to divulge personal information in exchange for a more personalized online experience. This finding challenges the notion that younger generations are inherently wary of sharing personal details with brands. Instead, it suggests that they value active engagement from companies and are prepared to reciprocate with their own data.
Generation Z, born into a world inundated with technology and social media platforms, has developed unique consumption habits unlike any other generation before them. They are tech-savvy, socially conscious, and highly connected individuals who demand convenience at their fingertips. So how can businesses ensure they are effectively engaging this digitally native audience? The answer lies in accurately measuring success through KPIs tailored for eCommerce by the hand of eRetail Media (Share of Voice, Share of Ads, Share of Promo, Share of Search, Share of Shelf, Share of Availability, etc).
By accurately measuring these KPIs tailored for eCommerce within the realm of eRetail Media campaigns, businesses gain invaluable insights into what strategies are resonating with Generation Z consumers.