Study: Gen Z More Likely Than Millennials To Buy Luxury Brands
Gen Z customers are frequenting brick-and-mortar chains like UGG, The North Face, Payless and Vans more than other generations, revealing a higher inclination to buy luxury brands than millennials, whose top retailers included discounters like Ross, Rainbow and Ikea, according to a report from InMarket cited by GeoMarketing. UGG, Gamestop, Sunglass Hut and The North Face actually over-index with Gen Z shoppers when it comes to in-store traffic, which might have to do with the relatively dependent nature of the young generation. The report reveals slight differences between millennials and the growing Gen Z, which could be good news for retailers, but may pose problems when it comes to finding a strategy that will appeal to both generations. Read more at Retail Dive.
