Afterpay’s latest report, Gen Z: Shaping the Future of Shopping, analyzes the habits and behaviors of the next generation of shoppers.
Afterpay, the leader in “Buy Now, Pay Later” (BNPL) payments, has commissioned research to evaluate the spending habits of the next generation consumer (Gen Z) and how they are approaching shopping in the current macroeconomic environment. With a unique understanding of the Gen Z consumer, Afterpay’s insights will help key decision-makers unlock the next big opportunity amongst this age group. This summary highlights the top three major Gen Z findings, including an overview of the critical shopping trends to be aware of and an analysis of responses from a survey of over 2,000 adults from the U.S. & Canada.
Into the Metaverse
Gen Z shoppers are proactively seeking brands with sustainable values and products.
Technology has been an integral part of Gen Z’s upbringing and culture, influencing the way they shop.
- About 60% of Gen Z believes the metaverse will be part of their everyday lives within the next 10 years.
- More than 70% of Gen Zs in North America are interested in buying real-world items in the metaverse.
Omnichannel or Nothing
Gen Zs want more ways to shop – no matter what it is or where they are.
- 54% Gen Zs in North America value brands that have both online and offline stores.
- Data protection across omnichannel channels is critical for over 60% of GenZ.
- Gen Zs tend to shop more in-store for items they want immediately to avoid waiting for delivery and associated fees.
- Gen Zs attribute convenience as well as reviews and ratings of products as key reasons to shop online.
Gen Z believes the metaverse is the way of the future and wants to shop for everyday items through new technologies and channels.
- Nearly 50% of American Gen Zs shop sustainably and an astounding 72% Canadian Gen Zs shop sustainably where possible.
- Over 50% Canadian and 35% American Gen Z actively researched a brand’s sustainability.
- A commitment to eco-friendliness inspires brand loyalty for 49% of Americans and over 58% of Canadians.