Shifts in buying habits in 2021 could be a result of one group in particular, the up-and-coming generation Z, with rising buying power, estimated to be as high as $323 billion, according to the 2021 State of the US e-Commerce Consumer Survey conducted by CGS, a global provider of business applications, enterprise learning and outsourcing services.
The pandemic defined purchasing trends, and unveiled new priorities.Shifts in buying habits in 2021 could be a result of one group in particular, the up-and-coming generation Z, with rising buying power, estimated to be as high as $323 billion, according to the 2021 State of the US e-Commerce Consumer Survey conducted by CGS, a global provider of business applications, enterprise learning and outsourcing services.#
Born between 1997 and 2012, generation Z consumers are carving out new trends in the e-commerce landscape, eschewing the likes of online marketplaces like Amazon, for shopping destinations with eco-friendly and sustainable values, CGS said in a press release.
While 67 per cent of older generations, generation X and baby boomers, are relying on online marketplaces as their destination for non-essential goods, only 37 per cent of Generation Z respondents said the same. Meanwhile, they are putting their dollars into more sustainable shopping destinations.
Generation Z consumers are five times more likely than baby boomers to use second-hand sites like eBay or ThredUp for non-essential items. The purchasing power of generation Z is altering shopping trends.
Motivations for purchasing are also vastly different for generation Z versus other age groups—only 18 per cent cited cost as a motivation for shopping. Twenty per cent of respondents are largely motivated by quality, followed by influencer endorsements (21 per cent).
Among the 81 per cent of US consumers who shopped for apparel in 2021, each age demographic had different reasons for purchasing: Generation Z cited concerns their wardrobe was outdated (35 per cent), Millennials are trying to spruce up their return-to-work attire and baby boomers are purchasing footwear, or are choosing not to shop at all.
A recent phenomenon, revenge shopping, defined as consumers making up for lost time with increased spending, is being driven by a younger set, the survey revealed. Baby boomers are not indulging in ‘revenge shopping’; in fact, 64 per cent said they have not splurged recently or plan to splurge on an upcoming purchase.
On the other hand, 82 per cent of millennials and generation Z plan to splurge or have already splurged on a purchase in 2021.
When polled on their interest in purchasing products that were made in America, several interesting trends emerged. Of the 1,000 respondents, seven in ten consumers (71 per cent) felt that children’s items and apparel should be made in America, citing concerns about materials used in manufacturing (42 per cent) and desire to support local businesses (54 per cent) as the main reasons for this sentiment.
When browsing children’s items and apparel, consumers claimed durability (43 per cent) as their top priority, followed by exceeding cost (22 per cent) and comfort (22 per cent).
Fibre2Fashion News Desk (DS)
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
