Move Over Millennials: Adyen Research Pinpoints the Future Power Shopper

The Next Generation of Shoppers - Gen Z - Crave Efficiency

News provided by

Sep 22, 2017, 09:00 ET

SAN FRANCISCO, Sept. 22, 2017 /PRNewswire/ -- Adyen, the payments platform of choice for the world's leading companies, today released new research that explores the next generation of power shoppers and what retailers need to know as this generation comes of age. The study revealed that Generation Z, born between the mid-1990s and mid-2000s, approach shopping with expectations for an efficient and independent experience. If their preferred shopping experience is implemented, 50 percent of Gen Zers would shop more overall, both online and in stores.

"Gen Zers are a unique generation of shoppers," said Roelant Prins, chief commercial officer at Adyen. "They are growing up in an age where information is at their fingertips, and they can find anything they want virtually as fast as they think of it. Retailers who recognize the potential of this future power shopper and their expectations for brands will be able to respond to their needs effectively and, perhaps more importantly, profitably."

Key findings from the report include:

They want their space

Only 7 percent of Gen Z shoppers want sales associates to make recommendations while they're shopping
Gen Zers want to do their own research, and find out about products by:

Visiting a specific store's website: 49 percent
Word of mouth: 45 percent
Searching megastore apps: 43 percent

They embrace the future, but are weary of the futuristic

Gen Zers crave efficient, interesting shopping experiences:

44 percent want Augment Reality (AR) and Virtual Reality (VR) technology to be part of their shopping experience in the next 12 months
39 percent hope to be able to "just walk out" of stores with their purchases within the next 12 months

But some experiences were just too futuristic:

35 percent did not want biometrics – features like retina and fingerprint scanning for purchases – to be part of their future shopping experience
Only 26 percent of Gen Zers have warmed up to purchasing from a messaging app

There is a clear upside for retailers

66 percent would visit a store more if they were able to check if an item was available beforehand
50 percent would shop more overall

The findings were part of a survey of 2,000 Americans between the ages of 18-55 conducted by Adyen and Morar Consulting that focused on the evolving retail experience. The first report in the series found that brick and mortar retail must evolve to meet the needs of a new segment of shoppers, dubbed the Tastemakers, in order to thrive in the changing retail landscape.

To read the full report on how Gen Z is the future power shopper, go to https://www.adyen.com/landing/online/us/whitepaper-gen-z-retail-commerce. For more information on Adyen's unified payment solution for retailers, go to https://www.adyen.com/our-solution.

About Adyen
Adyen is the technology company reinventing payments for the global economy. The only provider of a modern end-to-end infrastructure connecting directly to Visa, MasterCard, and consumers' globally preferred payment methods, Adyen delivers frictionless payments across online, mobile, and in-store. With offices all around the world, Adyen serves more than 4,500 businesses, including 7 out of the 10 largest U.S. Internet companies. Customers include Facebook, Uber, Netflix, Spotify, L'Oreal and Burberry.

Follow Adyen on Twitter.

Media Contact: Dave Pedersen, [email protected]

SOURCE Adyen