The beauty industry is getting a digital makeover, thanks to Gen Z, viral TikTok trends, AR capabilities, and new consumer behaviors. Brands will need to take a multichannel approach to keep up.

Gen Z in the US already has estimated spending power of nearly $150 billion, and this cohort represents a growing opportunity for retailers and brands. Here’s a snapshot of recent Gen Z shopping and buying data to help guide you.

Canada’s Generation Z—the kids and young adults in the country born between 1997 and 2012—is a lucrative demographic for brands, especially as it ages into higher levels of income.

Lockdowns, online shopping, and fear of germs during the pandemic have hastened the shift toward all types of digital payments. As a result, Gen Z has fully embraced electronic wallet services, contactless payments, peer-to-peer payment apps, and digital uses of credit, including buy now, pay later.

These Gen Z shoppers were the most curious about a more virtual shopping experience that would enable virtual try-ons, allow them to buy items for avatars within the metaverse, and more. A quarter of consumers in Germany are open to virtual shopping enabled by metaverse technologies, according to the Deloitte study. Next steps for retailers looking to exploit the virtual world.

Increasing competition in the realm of point-of-sale installment plans will push existing buy now, pay later firms to diversify their offerings and target consumers beyond the existing core of Gen Z and millennial users.

On today's episode, we discuss how Americans' attention shifted in 2021 (and what that means for the year ahead), the promise of ultra-fast delivery, the ideal amount of ads you should show viewers, whether gaming is more popular than TV for Gen Z, Facebook testing giving more control of the newsfeed to users, the office of the future, how far away the average American adult lives from their mother, and more. Tune in to the discussion with eMarketer analyst Blake Droesch and principal analysts at Insider Intelligence Suzy Davidkhanian and Paul Verna.

Move over, millennials: The new kids in town, Gen Z, have claimed the crown as most sought-after demographic for brands. With their deep digital nativity and social influence, this generation is making its mark on society and brand strategy.

Usage of buy now, pay later (BNPL) services has soared across generations in the US, especially among Gen Z.

A further 20% said they’d shop mostly in-store, and only 18% indicated that digital would be their core shopping behavior. In terms of household wealth, boomers are top of the pile.

Resale Taps Social Commerce to Reach Gen Z.

Donnelley & Sons Company, Gen Zers and millennials were significantly more likely than Gen Xers and baby boomers to say that influencers expose them to new products or services, or make them more likely to purchase. Creator videos are also just one part of the path to purchase on TikTok.

Ecommerce. Card-not-present debit volume grew 21% annually in 2020, per Pulse; if it keeps pace, it could beat out overall ecommerce gains in the year to come. This pandemic bump will persist: Debit’s share of digital card transaction value—where credit has historically reigned—will remain above pre-pandemic levels through 2023, per our forecast. New access.