Available exclusively for Cassandra clients, The SHOP Report provides 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. As in every issue from Cassandra, The SHOP Report contains a wealth of macro trends, data, marketplace examples, and brand implications to help you understand youth today while planning for the youth of tomorrow. Highlights include:
Modern youth prioritize spending on food and beverages and have elevated it above other consumer categories because it’s an accessible way to collect share-worthy experiences. More than 80% of U.S. and UK youth spend what they classify as “a lot of money” on food and beverages.
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.
Indulge in ReLuxe.
Youth are enjoying the cyclical, personal nature of the modern resale economy, presenting significant opportunity for brands to extend the life of products. Nearly half of UK youth and 39% of U.S. youth have bought and/or sold used items through an online resale platform in the past year.
Engage in weCommerce.
Gen Ys are embracing transparency as it pertains to personal spending, which is influencing their purchasing decisions. More than half of Trendsetters (54% in the U.S. and 62% in the UK) identify more as spenders than savers.
View Public Funds.
The future of stellar customer service lies in striking the right balance between technology, like “bots,” and a personalized human touch; 64% of U.S. youth and 59% of UK youth like to shop in stores for the good customer service.
Discover Bot Or Not.
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:
The Customer Isn’t Always Right.
Ready to start exploring?
CHECK OUT THE VIDEO BELOW FOR A TASTE OF WHAT TO EXPECT AS WE GUIDE YOU ON A JOURNEY THROUGH THE NEW SHOPPING LANDSCAPE.
Free shipping would make 60% of U.S. youth and half of UK youth more loyal to a brand.
Learn about Building Brand Loyalty.
More than 90% of U.S. and UK youth have made an impulse purchase.
Peruse Shopping Experiences.
Half of U.S. youth and 40% of those in the UK feel more comfortable making a purchase when they can see the product in person.
Study Shopping Preferences.
If you’re a Cassandra client, dive in! If you’re interested in becoming one, say hello.