A new report by AMP Capital – owners of shopping centres in Australia – have just released a report on the shopping habits of Gen Zs (those born after 2000) that showed they loved shopping at shopping centres!
The 11th edition of its annual Recommended Retail Practice (RRP) report, which has found that Gen Zs, the ‘Future Shoppers’ (as the report called them) of Australia, favour shopping in-store over online shopping.
The report, From A to Gen Z: Shopping with the Future Generation2, found that 87 per cent of Australian Future Shoppers like or love shopping in-store compared to 79 per cent who like or love to shop online.
Highlight stats from the report include:
- 87 per cent of Future Shoppers (Gen Zs) like or love shopping in store
- 83 per cent of Future Shoppers would like to check stock availability online
- 61 per cent of Future Shoppers are likely to research online while in-store compared to just 36% of Current Shoppers
- 53 per cent of Future Shoppers are more confident when shopping with others compared to 27% of Current Shoppers (Australians over the age of 23)
- 32 per cent of Future Shoppers say they lack free time to go shopping in comparison to 24% of Current Shoppers
- Male Future Shoppers are more confident when shopping with others compared to male Current Shoppers (56 per cent vs 29 per cent)
The report identified four key themes:
1. Don’t panic! Traditional shopping is not dead
Despite the lure of online shopping, Future Shoppers still prefer to shop in-store more than Current Shoppers. They’re social creatures, drawn to the face-to-face, touch-and-feel experience that in-store shopping provides.
Fifty-three per cent of Future Shoppers feel more confident when shopping with others compared to just 27 per cent of Current Shoppers.
2. Online and bricks-and-mortar work together
For time-poor Future Shoppers, the internet plays an important role in their shopping experience before and during their in-store visits, creating strong opportunities for in-store sales.
Some 61 per cent of Future Shoppers research while in-store compared to 36 per cent of Current Shoppers.
While 63 per cent of Future Shoppers use retailers’ wish list functions, compared to 43 per cent of Current Shoppers.
3. Don’t just sell me something, mean something to me
Future and Current Shoppers are both highly engaged with global issues and value strong ethics and companies with a purpose that goes beyond just selling.
Just below 70 per cent of both Future and Current Shoppers prefer brands that give back to society.
Some 59 per cent of Future Shoppers agreed they would pay more for sustainable products compared to 48 per cent of Current Shoppers.
It’s increasingly important for retailers to adopt an ethical, sustainable and authentic approach in supporting the global issues that matter most to Australians today.
4. Male Future Shoppers are a whole new ballgame
Last year, the RRP report revealed that men love shopping. This year, 46 per cent of male Future Shoppers have said they are more interested in staying ahead of popular trends than 36 per cent of their female counterparts.
Male Future Shoppers prefer to shop in groups, with most stating that shopping is a social experience (51 per cent) versus only 36 per cent of male Current Shoppers.
Some 56 per cent of male Future Shoppers are more confident when shopping with others compared to 29 per cent of male Current Shoppers
It’s therefore important for brands and retailers to acknowledge the power of the male retail market, which provides a growing opportunity for them.
Mark Kirkland, managing director of AMP Capital Shopping Centres, said: “The findings of the 2017 RRP report are significant as it confirms that the future of retail is bright, with a range of new opportunities at our fingertips. 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. AMP Capital’s RRP report also confirms Australians are ethical shoppers, who are willing to invest in sustainable brands, and that male Future Shoppers are the new trend setters when it comes to fashion.
“It also provides useful insights that can be shared across our industry, inspiring innovation and creation of engaging experiences that attract both Current and Future Shoppers and ensure the continued success of our sector.”