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.
The northeast region leads with 30.23% of
consumers opting exclusively for online purchases.
The free report includes 90+ timely insights for ecommerce
leaders.
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.org.
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.
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SOURCE 2 Visions