Gen Z and Millennial Consumers Reveal How to Improve the In-Store Experience

Wirecard North America asked U.S. consumers how they shop: where they browse, what inspires them to buy (or not), and how they pay. Their answers may surprise you — and provide valuable insights into how merchants can improve their experiences, particularly in-store. Wirecard breaks down the following five key findings in the below infographic:

1. Most respondents prefer shopping in-store. Fifty-eight percent of all respondents indicated physical stores as their primary shopping channel, which bodes well for brick-and-mortar retailers. Also notable is that younger consumers — ages 18-24 — prefer in-store and online shopping equally, at 46 percent each. 
2. Convenience is key. While most consumers still flock to stores to do their shopping, physical retailers can improve on pain points like long lines, crowds and product selection to create a better, more convenient experience.
3. Connecting online and in-store. More than one-third of respondents (34 percent) would choose to shop in-store if merchants offered a mobile- and physical-connected commerce experience, yet 56 percent of respondents don’t see stores adopting them.
4. Retail robots? It may not be long until robots become our personal shoppers. Forty percent of millennial and Gen Z respondents would trust a robot to shop for them if it knew their preferences.
5. Voice commerce is taking hold. With smart speakers like Alexa, Siri and Google Home, many people are already putting robot shoppers to use — and in their own homes. About 40 percent of consumers use these artificial intelligence (AI) devices to shop, with one in four using them at least once a month. 

While many consumers now choose to shop online, this data reveals that the majority of shoppers are still opting to make purchases in-store. To continue this trend, physical retailers will need to invest in technology to created a connected, convenient experience. Doing so will help bring brick-and-mortar into the future.

Image courtesy of Wirecard

Kevin Brown is the vice president of marketing and product at Wirecard, a company that employs innovative financial technologies to build complete digital ecosystems and end-to-end solutions throughout the payments value chain.