Great Influence Over Household Spending and Shopping at Malls
and Canada, told WWD the research also revealed a consumer demographic that influences household purchases across categories apparel, home goods and electronics.»Generation Z have been born with a tablet in their hands,» Efros said. «When I have a problem any problem I go to her first,» Efros said. «So, parents are empowering the influence of this generation.»And their influence is great, as Efros and other researchers estimate the spending power of Generation Z to be $43 billion. «While more than 60 percent of all survey respondents said they visit a mall or shopping center at least once a month, 72 percent of Generation Z respondents (children aged 10 to 17) and Millennial parents with children say they do so.»»These shoppers go to the mall with a specific mission and in search of specific items,» Efros said in the report. «Generation Z shoppers also spend more time at the mall and they visit more stores.»Twenty two percent of respondents who are «frequent» Generation Z visitors «say their typical trip to a mall is more than 90 minutes and they visit, on average, four to five stores.»When it comes to social influencers, Efros said Generation Z influence their friends and vice versa. The report noted that Generation Z shoppers «tend not to be strongly influenced by celebrity endorsements from athletes, actors and singers.» Respondents said 61 percent of their buying decisions «are most strongly influenced by friends, with 13 percent being influenced by bloggers.»Moreover, social media platforms play a critical role in influencing purchasing decisions. «Approximately 50 percent of Millennial and Generation Z shoppers surveyed use social media while they shop,» the report noted. «Of their social media time, most is on Facebook (61 percent), followed by YouTube (38 percent) and Instagram (24 percent).»Regarding gifting, HRC found that 62 percent of all respondents had a preference for receiving gift cards over an actual gift while 69 percent of Generation Z felt the same. «The majority of respondents, particularly parents, plan to include gift cards among their holiday purchases,» the report stated.