Research conducted with over 2,000 consumers by Qudini, a London-based retail software company, reveals that some of the UK’s best known High Street brands are considered irrelevant by youth demographics.
The findings were revealed in Qudini’s latest whitepaper, ‘Does Your Retail Offer Appeal to Youth Generations?’, which highlights retailers’ need to be relevant to both Millennial and Generation Z consumers to ensure future success.
The survey also revealed:
- 70% of Millennial and Generation Z consumers said they do not admire any brands
- 40% of Millennial and Generation Z shoppers want to try products in-person before they buy them
- The opinions of friends influences 27% of Generation Z’s buying behaviours, making it more influential than TV at only 24%
- Younger generations are just as influenced by YouTube as they are by TV ads when learning about brands
- 65% of Generation Z consumers ‘sometimes’ or ‘always’ like a brand’s post on social media, 60% ‘sometimes’ or ‘always’ follow a brand’s channel and 43% ‘sometimes’ or ‘always’ repost a product that a brand has posted
- Only 13% of respondents from all age groups go into stores for advice.
Commenting on the findings, Qudini CEO & co-founder, Imogen Wethered, said: “Over the next two decades, where Millennial and Generation Z shoppers spend their money will ultimately determine both the success of individual brands and how the overall retail landscape evolves.”
“Our results also highlight just how important it is for brands to maintain a powerful presence on social media when looking to remain relevant with younger consumers.
“Younger generations of shoppers know that they’re highly sought-after by retailers, so their expectations of what constitutes a positive brand experience are heightened. Brands who meet these expectations will attract the lion’s share of a youth consumer segment who still place huge value on the need to see and try on products, along with the social aspects of shopping.”
The report is aimed at providing insights for retailers to help them assess both the challenges and opportunities of appealing to Millennial and Generation Z consumers, while also future-proofing their in-store experience so that these two important consumer age groups continue to value physical retail as they get older.