Friday, August 19, 2022

Young shoppers love the high street, but they’re increasingly picky

Young people are increasingly picky about where they shop despite being the group that‘s set to increase how much they spend on fashion, according to new research.

In the new Spotlight: Retail Revolutions report published by retail real estate firms Intu and Savills, 44 per cent of those aged 16-24 say they envisage increasing their spend on fashion over the next 12 months, compared to just 22 per cent of those aged 65-74.

At the moment, the average spend from the younger age group, otherwise known as Generation Z, stands at around £244.

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However, 50 per cent of Generation Z say there is not enough fashion choice for them.

When faced with difficulties in finding what they want from a physical store, 58 per cent of Generation Z will turn to shopping online, 35 per cent will visit another high street or shopping centre while six per cent will not shop at all. 

In contrast, the older age group surveyed – the Baby Boomers – say that when they can‘t immediately find what they want, 40 per cent will shop elsewhere, a third will move online, and 21 per cent will avoid shopping altogether.

Savills head of UK retail Sean Gillies said while Generation Z were willing to shop in physical stores, the research shows they their needs don‘t always feel catered for.

“While multi-channel retailers may still benefit from purchases being made online, the challenge is for landlords and tenants to find the right balance and to deliver the brands and environment that the younger generations want from the physical store,” he said.

Intu regional director Kate Grant agreed: “Bringing the online and physical experience closer together will ensure that all channels win in this dynamic retail environment we now live in.”

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