Generation Z leads the omni-channel parade
When it comes to combining in-store visits and online product research or purchase, Generation Z (ages 18 to 26) leads all other shopper age groups in the US, lending some spark an otherwise flat “omnishopping” environment.
Just-released findings from GfK’s annual FutureBuy study show that nearly half (46%) of all Gen Z shoppers in the US have researched an item on a mobile device and then bought it in a store – a strategy known as “webrooming.” That level is up 5 percentage points from 2015 and beats other generations by 12 to 27 points.
One-third (32%) of Gen Z US shoppers report they researched a product in a bricks-and-mortar store and then bought it online via a mobile device (“showrooming”). This compares to 24% just a year ago, and bests other generations by 11 to 20 percentage points.
Frequency of showrooming is also higher among the younger generations, with Gens Y (ages 27 to 36) and Z much more likely to say they showroom at least once a week. Generation X (ages 37 to 51), on the other hand, tends to fall into the “once every few weeks to once a month” category.
Overall, webrooming – reported by one-third (34%) of all US shoppers – is much more common than showrooming (21% of US shoppers).
Somewhat surprisingly, Gen Z was also most likely to cite concerns about credit card and personal information security as a reason to avoid shopping online. One-third of all Gen Z shoppers in the US mentioned this worry, up from 26% last year. But the top reason for avoiding online shopping remains the cost of delivery, cited by 50% of all shoppers and 51% of Gen Z.
“These findings really illustrate that generation is a major factor in determining how someone prefers to shop,” said Joe Beier, EVP on GfK’s Shopper and Retail Strategy team. “They also offer a stark reminder of the importance of tightly defining the target audiences for any activation initiatives. The days of ‘one size fits all’ are clearly over.”
GfK’s annual FutureBuy study measures the shifting interactions of digital and in-person activities in the shopper experience, tracking essential trends such as “showrooming” and “webrooming.”
Info-Stat: All around the Houzz
Number of Projects Is on the Rise
Probably the main reason professionals are eagerly seeking more skilled laborers is because the majority of firms are seeing an increase in the number of project inquiries and the number and size of new projects in the first quarter of 2016 compared with the last quarter of 2015, as well as year over year. It’s hard to take on more work and larger projects without the right-size workforce.
What’s more, these gains are expected to soar among all industry groups for the second quarter of 2016, with general contractors and remodelers, building and renovation specialty firms, and outdoor specialty firms appearing particularly optimistic.
Confidence Is Rising Moderately but Steadily
The report, conducted between March 29 and April 13, 2016, among more than 3,000 industry professionals, indicates strong continued confidence in year-over-year market gains among all professionals in the first quarter of 2016. However, four out of the six industry groups — designers, architects, design-build firms and building and renovation specialty firms — report somewhat weaker confidence compared with the first quarter of 2015.
That said, the outlook for the quarter-over-quarter market gains in the second quarter of this year appears quite rosy across all industry groups.
“Consistent with our projections in the Houzz State of the Industry report at the beginning of the year, we are seeing early evidence that 2016 will be a year of more moderate yet steady growth for residential renovation and design businesses,” Sitchinava says.
Readers Respond: The verdict for 2016
Well, what's the word, 2016?
As far as business performance goes, it appears that 2016 was by no means a banner year for most of our readers, but many said it was better than 2015.
In a poll last week, we asked our readers how their business performed in 2016.
The largest share of respondents at press time (48%) said: "Better than 2015."
Another 19% said they had their "best year ever" — not bad!
A slightly smaller share reported "flat" numbers (16%), and 16% also said they performed worse than 2015.
Only 2% said they barely scraped by.
What's the verdict on the last year for your business? Let us know by voting here.