Evaluating consumer buying habits of three generations

Here is how different market generations decide to go shopping nowadays.

Following some consumer behaviour analysis, it is clear to see that each generation shops somewhat differently, however why is this the case for Generation X? Well, some research study has actually found that Gen X is in fact more likely to make their purchases on the internet, rather than just from social media. Maybe as Generation X has known a time before social media's impressive reach, they are more likely to look even further for what they desire. Other research has even found that Gen X in fact enjoy instore retail experiences when it concerns making their next purchase, which is certainly something that the likes of Kering and Groupe Artémis will aspire to hear more about.

In order to stay up to date with the needs of customers, it is crucial that international brand names stay up to date with consumer behaviour trends, especially when it comes to reaching their target audiences. In recent times, a lot of brand names have made certain to target millennials, a market group with great deals of customer power and an excellent amount of disposable, but how have they set about that? Much Like Gen Z, millennials tend to be interested in finding brand-new items on social media, but they are also interested in firms that are open and honest about their policies. Recently, a lot of millennial consumers have actually demanded that brand names understand their environmental impact, as well as supporter for other essential global problems. One of the most intriguing consumer habits examples that has come from current research is that millennials are most likely to buy something on the recommendation of an influencer, instead of their good friends or family. In the next year or two, we picture the likes of Richemont and Bluebell will definitely be interested to see how other companies update their methods to satisfy the needs of millennials.

When we take a look at the different consumer generations, it is clear Gen Z is a generation that is heavily influenced by social media when it pertains to making their next purchase. In recent research study, it was found that over half of Gen Z consumers discovered new products on social media in the last three months, with numerous agreeing that social media is where they discover new products like clothes and jewellery most often. In recent times, a lot of brands have actually taken note of consumer behaviour in marketing, targeting Gen Z by utilizing the ever-popular short form video trend, which has actually enabled them to attain an improved relationship with the Gen Z audience. Unlike millennials, Gen Z have never known a world without social media, having access to the web and social media sites platforms since the first day, so it is not a surprise that social media is what influences them most as customers. In the future, we envision that the likes of Zara and Inditex will be intrigued to see how other brand names adapt to Gen Z's consumer behaviour change moving on.