Millennials Lead the Way with Early Shopping
As the winter holidays approach, there's a noticeable trend in the shopping habits of different generations. Millennials, particularly those aged 25-34 and 35-44, are setting a new standard for early holiday shopping. By early November, a staggering 70% and 67% of these age groups, respectively, have already started their holiday shopping spree. They're not just starting early; they are also progressing further in their shopping lists than other age groups, who typically catch up only after Thanksgiving.
Why the Early Bird Approach?
Millennials are strategic shoppers. Their early start isn't just a random choice. By beginning their holiday shopping in October, they effectively spread out their budget and avoid the last-minute rush. Events like Amazon Prime Big Deal Days and Target Circle Week are particularly appealing to them, allowing them to capitalize on early deals and discounts.
Gen Z's Unique Gifting Style
The Rise of Personal Care and Beauty Gifts
Gen Z is redefining the gift-giving culture with their distinct choices. Personal care and beauty items, which have seen a 7% increase in popularity over the last year, are particularly favored by 18- to 24-year-olds. This age group is 10% more likely than last year to pick these items as gifts, a clear departure from the overall consumer trend.
Sticking with Classics
But it's not just about new trends for Gen Z. They still appreciate the classic gifts like books and other media, a category that has seen a decline in popularity among other age groups since the pandemic. Gen Z, however, continues to buy these items at consistent rates, with 40% of young consumers in this age group choosing books and media as gifts, more than any other group.
Payment Methods: A Generational Divide
The way we pay for holiday gifts is also evolving, with more consumers opting for alternative payment methods like PayPal and Venmo. Gen Z and millennials are leading this charge.
Millennials' Preference: PayPal
Millennials show a marked preference for PayPal, with a notable percentage of 25- to 34-year-olds and 35- to 44-year-olds planning to use this service for their holiday purchases.
Gen Z Chooses Apple Pay
Gen Z, on the other hand, favors Apple Pay, with their usage rates more than double that of the general population. For 18- to 24-year-old shoppers, Apple Pay is the top choice for their holiday transactions.
Conclusion: A Bright and Innovative Holiday Season
The holiday shopping season is witnessing a transformation, thanks to the unique approaches of Gen Z and millennials. From early shopping to distinct gift choices and innovative payment methods, these generations are making the holiday season bright and exciting in their own ways. As we move further into the festive period, it will be interesting to see how these trends continue to evolve and shape the future of holiday shopping.
Want to learn how Sneeze it can help you take your marketing to the next level? Schedule a meeting below!
