The Evolving Retail Trends of Young Shoppers: JCK on Cassandra's SHOP Report

Lifestyle
07/10/2016 11:42

JCK's Emili Vesilind digs into Cassandra's SHOP Report, which its website describes as, "A deep dive into young consumers' habits and attitudes around the future of retail, shopping, and spending," and aims to provide, "a comprehensive portrait of the evolving ways Gen Y (also known as Millennials) and Gen Z are approaching the purchasing process and the dynamic role that brands are playing in the lives of these influential young consumers." Vesilind writes, "Emily Anatole, Cassandra’s associate insights director, told JCK that one of the biggest revelations from the fresh findings was that young consumers aren’t just looking for brands and experiences that are visually cool - an assumption many retailers make in the age of slick Instagram photos. They’re also 'craving shopping experiences that provide them with a sense of community. Today’s youth don’t just turn to brands to browse and buy, but rather, they look for brands to create togetherness.'"

“Youth regard brands as facilitators, platforms, and places to connect with like-minded people,” Anatole says. ”As a result, many of the retailers resonating today—and leading the way for tomorrow—are those with brick-and-mortar stores that function much like community centers or hubs for social engagement,” Anatole tells JCK. This is favorable news for brick-and-mortar stores. Threatenend with seeming extinction by online shopping, the insight that young shoppers actually value physical space leaves retailers with a wealth of opportunities. Anatole: Anatole. ”While it’s never been easier to buy anything online today, they still making the effort to visit retailers in person because it allows them to feel most integrated in society, especially when brands actively encourage this through their environment and events.”

Vesilind selects a few key insights (go to the original article for more):

  • Nearly four in 10 of the U.S. respondents (38 percent) say that shopping in a store makes them feel like they are part of a community more than shopping online does.
  • Forty-three percent of U.S. respondents say they want to see more designated areas in stores where they can hang out and relax.
  • 62 percent say shopping in stores is more stressful than shopping online.
  • U.S. youth are split on whether they prefer to shop in-store (51 percent) vs. online (49 percent).
  • Youth are redefining the concept of luxury to better suit their generations’ modern values and needs. While 65% of Gen Ys would rather wear a socially conscious brand than a luxury brand, teen Zs are significantly more likely than their predecessors to favor luxury brands ... and interestingly enough ...
  • Young consumers believe that brands can and should cut off customers who go against a company’s values of inclusion or civil rights; 43% of U.S. youth and 38% of UK youth believe.