2020 Retail Trends (Cont’d from Page 1)
2020 trends will include: In-Store Strolls : Boomers and Gen Zers lead the in- store charge by planning to do the majority of their 2020 shopping in physical retailers (67 percent and 61 percent, respectively), with Gen X (59 percent) and Millennials (57 percent) close behind. Conscious Consumers : Despite popular belief, boomers lead the pack in planning to shop more fre- quently at retailers that align with their core values (75 percent), followed closely by Gen X (72 percent), Millennials (70 percent) and Gen Z (68 percent). How- ever,younger consumers are more likely to feel a sense of loyalty to brands. Sixty-four percent of Gen Z report feeling a sense of brand loyalty compared to 47 per- cent of Boomers. More Mobile Moments : Eighty-eight percent of shoppers plan to use their mobile devices while shop- ping in-store, with consumers reporting they’ll do so most often to find deals and coupons or to price com- pare.And with more and more mobile capabilities, 50 percent of consumers plan to use their mobile devices in-store more frequently in 2020. Staying Out of Debt : Half of consumers (50 per- cent) plan to make the majority of their purchases with debit cards in the new year. Credit cards come in second at 27 percent, followed by cash (15 percent), app-based payment methods (6 percent) and gift cards (2 percent). However, Gen Z is the only generation planning to pay more often with cash over credit (29 percent and 15 percent, respectively). Pay Now, Not Later :While more retailers are offer- ing installment plans or pay-later options, the clear ma- jority of shoppers don’t plan to actually use them (83 percent and 87 percent, respectively). Shop Your Feed : Most consumers don’t plan to shop on social platforms in the new year, but for those who do, Facebook is the most popular platform, ac- cording to Millennials, Gen X and Boomers (26 per- cent, 26 percent and 29 percent, respectively). Mean- while,Gen Z is the only generation more likely to shop on Instagram (20 percent). Gaining Insight “We’re continuing to gain valuable insights into how Americans’ shopping habits are changing, and 2020 will be a defining year for the types of brands that will thrive in this new era of consumerism,” said David Fisch, General Manager of Shopkick. “Consumers are more informed than ever before, resulting in very de- liberate shopping decisions at retailers that can meet and exceed their expectations.”
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6 January 6, 2020 Flexo Market News
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