The AMP Capital report shows that 77 percent of New Zealand’s younger shopping generations like or love being able to spend quality time in a store.
Generation Z, also called the 'future shopper' is the demographic cohort after the millennials, usually aged 15-35.
These groups are tending to spend time in store, treating it as a social experience which allows brick and mortar stores to engage with their ever-changing customer.
Digital marketplaces are a key player in gen Z shopping habits, often being the forefront and first choice of many. Despite this, the research shows that traditional shopping isn’t in danger.
The report says that these shoppers like the experience that in-store shopping can provide. According to the statistics, 35 percent of gen Z shoppers view physical shopping as a social experience, and 36 percent of them feel more confident when they shop with others.
Mark Kirkland, managing director of AMP Capital Shopping Centres, said the report brings in new opportunities and excitement for the group.
“The research highlights the importance of developing fun, social experiences in-store and the opportunities that emerge once brands and retailers align their online and offline offerings.”
“It also provides useful insights that can be shared across our industry, inspiring innovation and the creation of engaging experiences that attract both Current and Future Shoppers and ensure the continued success of our sector,” Kirkland says.
The importance of social media was also touched upon in the report, with comments that the internet plays an important role for time-poor shoppers, bringing in the most out of the experience.
53 percent of gen Z shoppers use retailers’ wish list functions online. 83 percent of those shoppers would also like to check stock availability online before going into the store.
It’s increasingly important for retailers to adopt an ethical, sustainable and authentic approach in supporting the global issues that matter most to Kiwis today.
Kirkland agrees that this growing popularity of shopping instore provides a positive outlook for brick and mortar stores. The report says that the best way for a business to thrive is for bricks and mortar to work together with online.
“It’s important that, as an industry, we constantly evolve to adapt to the current trends that engage our Future Shoppers in order to stay relevant. It’s vital that retailers and shopping centers engage with the digital world more often and provide new and exciting avenues to connect with our customers.”
The research recognises that targeting younger shoppers through an offered experience or social media is a good move for retailers looking to get in on the new numbers.
“Trailblazing New Zealand retailers such as The Body Shop, have captured the attention of Future Shoppers by creating a personalised customer experience that’s exclusive to in-store,” says Kirkland.
“These are just a few representations of the future of retail although we look forward to seeing more bold ideas from retailers within this innovative space.”
AMP Capital has been a growing thriving group since 1971, with a portfolio of 27 centers throughout Australia and New Zealand. The involvement with the newest research and numbers means the group is fully solidifying itself with its community and ensuring value and growth at the same time.