(MENAFN- PR Newswire) 2024 Market Research from 2 Visions Reveals Gen Z's Strong Preference for Physical Retail Experiences
CHARLESTON, S.C., May 6, 2024 /PRNewswire/ -- In a revealing new study, the 2024 Clothing & Accessories Ecommerce Consumer Market Research Report has uncovered that Gen Z's preference for in-store shopping experiences tops all other generations at 30.77%. This significant finding contrasts sharply with the common perception of younger consumers favoring online shopping, indicating a notable trend towards physical retail among this digitally-native demographic.
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The northeast region leads with 30.23% of consumers opting exclusively for online purchases.
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View the full 2024 Clothing & Accessories Ecommerce Market Research Report.
This study, which surveyed 2,411 Americans, sheds light on how various demographics navigate the evolving retail landscape for clothing and accessories, particularly highlighting the unique behaviors of Gen Z.
Key Highlights from the Report:
Northeast Dominates Online Shopping: The region leads with 30.23% of consumers opting exclusively for online purchases, underscoring the need for a nuanced approach to targeting geographical markets. Hybrid Shopping Preferences Among Affluent Shoppers: Those earning over $100k are heavily inclined towards a mix of online and in-store shopping, with 66.67% utilizing both channels. Accessibility Disparity Based on Income: There is a stark contrast in shopping accessibility between income levels, with all high-income earners accessing shopping within 30 minutes versus only 85.19% of those earning under $50k.
Researchers have unveiled insights that are transforming ecommerce assumptions by addressing consumer preferences in the digital era:
Hybrid Shopping Dynamics: The trend of hybrid shopping is explored with a focus on how high-income earners and Gen Z merge online convenience with in-store experiences. This suggests strategic opportunities for ecommerce brands to create seamless, integrated shopping experiences. Influence of Return Policies on Consumer Trust: The examination of return policies shows their significant impact on consumer purchasing decisions. The importance of clear, favorable return policies is highlighted as a way to build consumer trust and loyalty. Discovery Channels in Fashion Retail: The study looks at the predominant channels through which different demographics discover new clothing items, emphasizing the critical role of digital platforms and social media in reaching younger consumers and the effectiveness of traditional online platforms among older demographics. Pricing Perceptions Across Shopping Formats: The research challenges the traditional view that online platforms always offer the best prices, suggesting a nuanced approach to pricing strategies for ecommerce platforms to remain competitive. Emotional Connections and Brand Loyalty: The importance of emotional connections in cultivating brand loyalty is discussed, with personalized experiences and exceptional customer service identified as key to maintaining engagement and loyalty in the competitive online retail landscape.
Yates Jarvis, Principal at 2 Visions, commented on the findings: "This latest research challenges the prevailing narrative about young consumers' shopping preferences. The strong inclination of Gen Z towards in-store experiences suggests a vibrant opportunity for retail brands to revitalize and innovate within their physical spaces and create a value-based approach to omnichannel. Embracing this shift can transform how we approach retail strategy and customer engagement for the most digitally connected generation."
Izzy Rosenzweig, CEO/Founder at Portless, added: "Our collaboration with 2 Visions brings forth a comprehensive report on the current state of the e-commerce clothing and accessories market. Revealing insights such as Gen Z's preference for hybrid in-store experiences, income-based accessibility gaps, and the Northeast's online dominance, this report empowers e-commerce/DTC brands to understand and adapt to evolving consumer preferences effectively."
This report is part of a broader initiative by 2 Visions to release a series of industry-specific market research reports throughout the year, covering sectors such as Electronics, Home Decor, Wine, Jewelry, Personal Care & Beauty, Toys, Supplements & Specialty Foods, and Music & Sound Equipment.
About 2 Visions
2 Visions is an award-winning consulting and market research firm specializing in helping direct-to-consumer (DTC) ecommerce brands grow by developing their in-house capabilities for long-term success. Founded by Yates Jarvis, who has worked with notable companies such as TGW, Ancient Nutrition, Kay, DIFF Eyewear, Jeep, and Spanx, 2 Visions focuses on high-touch teaching and side-by-side collaboration to empower brands to avoid costly missteps and build profitable ecommerce strategies.
The firm's unique consulting approach involves working directly with senior leadership and key employees to pursue high-leverage opportunities, enabling brands to scale faster and more efficiently. On the research side, 2 Visions offers in-depth, granular market research, which serves as a secret sauce for clients aiming to improve personalization, AI, and targeted journeys in ecommerce customer experiences. Their research enables clients to uncover powerful data-driven insights and develop more effective marketing and CX strategies tailored to their target audiences. For more information, visit 2visions .
About Portless
Portless is a next-generation 3PL that helps e-commerce brands save time and money by fulfilling customer orders directly from China in just 6 days while providing a total domestic experience.
SOURCE 2 Visions
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