Disable Copy paste

Monday 8 April 2024

Shopee’s ‘The Future of Shopping’ Study Reveals Gen Z Purchase Habits

Shopee’s ‘The Future of Shopping’ Study Reveals Gen Z Purchase Habits
7 in 10 choose e-commerce as their research source for informed spending

KUALA LUMPUR, 8 April 2024 - Shopee, the leading e-commerce platform in Southeast Asia and Taiwan, officially unveils the ‘The Future of Shopping: Engaging Generation Z Shoppers in the Digital Era’ study. The study discovered that 7 in 10 Generation Z (Gen Zs) consumers aged 18 to 24 leverage e-commerce platforms as the primary touchpoint in their shopping journey. This highlights a critical shift, with Gen Z actively utilizing these platforms to gather information and conduct in-depth research before committing to a purchase.

Findings revealed a continued preference for e-commerce platforms despite exploring alternative product research and discovery channels. A significant 68% of Gen Z respondents demonstrate a higher purchase completion rate on e-commerce platforms. 18% of Gen Zs prefer to explore products on social commerce platforms, while the remaining 14% opted to finalize transactions through other channels.

Enhancing Service Quality for Gen Zs
Interestingly, when asked, “What information do you search for when shopping for a product?” a significant 67% actively seek out positive recommendations, emphasizing the importance of high customer reviews and influencer endorsements. This focus on external validation aligns with their value for user trust. They view clear communication of product benefits and effectiveness as justification, prioritizing products that deliver strong value for money over affordability (16%) and quality (17%).

While two-thirds of Gen Zs complete their purchase journey within a day, another third dedicate at least five days to in-depth research, demonstrating meticulous research habits. This extended research phase prioritizes reviews and video demonstrations to ensure product performance and user satisfaction.

Ming Kit Tan, Head of Marketing and Business Intelligence at Shopee Malaysia, said, “Gen Zs in Malaysia are more than just online shoppers; they're digital explorers who leverage e-commerce for deep dives and informed decisions. They crave a seamless, dependable, and unified shopping experience. Brands can cultivate trust through authentic user-generated content and crystal-clear product information, presenting a golden opportunity to leverage affiliate marketing and Shopee Live. By prioritizing their needs, we can continue to be the leading destination for Gen Z's shopping journey.”

Enlivening Shopping Experience
When asked why Gen Zs chose e-commerce platforms for purchase, nearly 82% cited the platforms' extensive product variety and brand selection, competitive pricing, and guaranteed quality as key factors. The remaining 18% make informed decisions based on a platform’s reputation and personal experiences. This highlights Gen Z's data-driven approach to shopping, where they actively utilize platform functionalities to validate purchases before committing.

A significant difference emerged among Gen Z shoppers regarding the most impactful attributes influencing their choice of purchase channel. Established fulfillment practices, encompassing flexible shipping options, on-time deliveries, and real-time order tracking, were prioritized by a dominant two-thirds of respondents, while the remaining third prioritized a seamless checkout experience and product search convenience. This finding underscores the critical role of trust in fulfillment practices in securing Gen Z's loyalty.

In response to these evolving shopping behaviors, Shopee introduced the 15-Day Free Returns, No Questions Asked* program. This policy empowers buyers with unprecedented flexibility by offering "Change Of Mind" returns on eligible items with No Questions Asked* for hassle-free returns, fostering a culture of unwavering customer trust. By prioritizing customer satisfaction, Shopee is streamlining the shopping journey and providing users the ultimate peace of mind.

No comments:

Post a Comment

Note: only a member of this blog may post a comment.