In 2015, American families spent $829 billion on Gen Z, and these young consumers have an estimated $44 billion in spending power on their own. Born after 1995, these digital natives look for speed, authenticity and customization in every transaction, and are quickly becoming an influential consumer group.
Chris Wong of IBM, Billy May of Abercrombie & Fitch and Patrick Duncan of Helzberg Diamonds all work to target Gen Z consumers and understand how they differ from Millennials. During a breakout session at Retail’s BIG Show, these executives shared insights on what Gen Z wants from retailers and how businesses can keep up and deliver the experiences and transactional relationships necessary to hold their attention. Download “Uniquely Gen Z” — a new report from NRF and IBM — and watch the session to learn exactly who the Gen Z consumer is and why understanding their behavior is key to retailers’ success in the coming years.