Thursday, 20 June 2019

A Foolish Take: Gen Z Shoppers Are Keen to Try Shopping Innovations – The Motley Fool

Over the past decade, retailers launched smartphone apps and optimized their websites for mobile devices. Today, many are dabbling with next-gen shopping solutions like voice shopping on smart speakers, virtual reality (VR) shopping apps, and pop-up stores.

Blackhawk Network recently found that many Generation Z shoppers — defined as folks born between 1995 and 2015 — were willing to use these newer shopping solutions on a monthly basis.

Chart showing percentage of Gen Z shoppers willing to try shopping innovations like voice shopping, pop-up stores, and virtual reality shopping

Data source: Blackhawk Network. Chart by author.

That’s good news for Amazon (NASDAQ:AMZN), which controlled 61% of the U.S. smart speaker market in January, according to Voicebot.ai. Amazon is also reportedly developing a VR shopping app, which could turn its online marketplace into a virtual department store. Walmart (NYSE:WMT), which acquired VR start-up Spatialand last year, could also be developing a similar app.

Pop-up stores are also becoming popular for digital-only brands. Facebook launched pop-up stores for its digital retailers, and LVMH is planning pop-ups for Rihanna’s new Fenty brand.

Retailers that adopt these solutions could lock in younger shoppers, so investors shouldn’t dismiss these new shopping trends as gimmicks or fads.

Source: https://www.fool.com/investing/2019/05/20/a-foolish-take-gen-z-shoppers-are-keen-to-try-shop.aspx

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