Young millennials and Gen Z shoppers are a major area of opportunity for retailers with brick-and-mortar locations this holiday season.
Coldwell Banker Commercial found that the demographic aged 18-34 is most likely to go to stores “to kill time” than other demographics; 35% said they do this compared to 20% or less in all other age groups. Those same Gen Z and millennial consumers are more likely to go to stores to spend time with family and friends (33%) than older respondents. A survey released in July by Shopkick found that 55% of Gen Z respondents plan to do their holiday shopping in physical stores. As the purchasing power of these younger shoppers grows, there’s room for retailers to foster face-to-face loyalty.