If there’s one thing that drives “brick and mortar” retailers crazy, it’s when people try things on in the store only to buy the item online afterwards. However, some new research suggests this practice may be beneficial, since it may lead to a bigger spend online.
Global payments company Klarna has released new research into consumers' shopper behavior – specifically amongst the Gen Z and Millennial generations.
The research surveyed more than 1000 consumers, finding that consumers of all ages value seamless, personalized, and flexible shopping experiences.
Customers Miss the Ability to “Touch and Feel” an Item
Although shoppers are making purchase decisions online, they still miss being able to touch, feel, and see the product before buying.
Almost half (46%) of U.S. shoppers say they like to touch and try items before they buy them, so they will tend to buy more expensive items in store.
A third (29%) of shoppers prefer to browse for a new purchase online and then actually buy it in store. Enter the solution: sitting room to fitting room experiences – using solutions like deferred payment or Pay Later to help shoppers see their items before buying.
Millennials and Gen Z Are Spending Big Online
Today, U.S. shoppers admit to buying clothes and accessories online an average of 10 times a year. For Gen Z shoppers, aged 16-24, this number increases to 18 times per year, with nearly a quarter (23%) of them admitting to shopping online 1-3 times per month.
Millennials are shown to shop online 14 times per year and the 55+ age group, 8 times per year.
The outside world might tell us that the fashion industry is driven by celebs, influencers, and high end fashion, but the average American shopper is more likely to be influenced by items reaching the end of their life-span or seasonal sales.
Men are frugal spenders, with two-thirds (60%) saying they are most likely to buy new clothes when an old item wears out – compared to 52% of women.
U.S. shoppers also buy new clothes when there are seasonal sales (44%) and big events like a wedding (30%).
High fashion and celebs don't have as much influence as the industry might think; only 2% say they'll buy clothes because a celeb/influencer has worn it. This outlook differs for younger shoppers where social-influenced spending is key.
For the 'want it now' Gen Z generation, 25% say they are most influenced to buy when they see an item trending which is likely to sell out and 26% when they've seen something on social media.
Find out more at www.klarna.com