Over the last few years, we’ve seen rapid innovation across the ecommerce universe. Customers – and more specifically Gen Z – want retail experiences that seamlessly integrate into their already digitally-dominated lives.
Recent data from American Express found that nearly a fifth (19%) of 18-24-year-olds frequently click shopping ads on social media. With predictions of major growth in the UK social commerce industry, retailers need to take note of what this generation want from their shopping experience.
As reflected in social commerce experiences, Gen Z shoppers are predominantly looking for a seamless and convenient checkout, so it’s paramount that merchants respond to these demands if they are to win over this key shopper group. Here’s how they can put it into practice:
Establish ease and enjoyment
Our research found that six in 10 (59%) 18-24-year-olds said that convenience was a number one priority when shopping, with two thirds (66%) valuing businesses that facilitate last minute purchases and quick delivery.
Younger shoppers are increasingly using social media to discover products. Social commerce sets the perfect stage for them to make a seamless purchase, without even leaving a specific platform. Take this a step further and clearly customers will start to only shop with retailers that offer a convenient and enjoyable experience, from start to finish. Off the bat, merchants need to be offering Gen Z ‘must-haves’ such as faster delivery times and slick online experiences. And with customers considering their purchases more cautiously than before, it’s the merchants focusing on customer satisfaction that will drive loyalty.
No strings attached
The payments experience is at the heart of this ever-changing landscape – something merchants must master to avoid drop off and disappointment at checkout. Our research found that about three fifths (59%) of 18-24-year-olds would abandon their basket if unable to use their preferred payment method – showing that younger consumers have little patience for friction at checkout. What’s more, with over four in 10 (42%) of younger shoppers not wanting to enter payment details whatsoever at checkout, that the systems requiring card details risk deterring valuable customers. Flexibility and choice are key for these shoppers, so getting the payment process right is crucial for merchants looking to take advantage of social commerce.
Understand the customer
It’s clear that Gen Z are very particular in their shopping habits. Whether it’s the seven in 10 (72%) surveyed that regard a brand’s social values as important, or the three quarters (73%) that our research shows feel that their loyalty should be rewarded by the merchants they shop with – understanding the fundamentals of what these consumers want is key to driving repeat spend.
Retailers that get under the skin of their customers – be that through regular engagement or effectively analysing their customer data – will be able to respond with greater agility to keep up with this dynamic demographic, whilst also making space for innovation throughout the payments journey.
Dan Edelman
