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Gamechangers: Gen Z and e-commerce

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Gamechangers: Gen Z and e-commerce

From consumer-to-consumer to the metaverse, Gen Z needs to take an active part in any channel, game or brand and expects a multi-way conversation involving brands, creators and communities. A brief presentation by Hamutal Schieber at a recent Baruch College lecture, Prof. Nizan Packin's "Law of Black Mirror" class.

From consumer-to-consumer to the metaverse, Gen Z needs to take an active part in any channel, game or brand and expects a multi-way conversation involving brands, creators and communities. A brief presentation by Hamutal Schieber at a recent Baruch College lecture, Prof. Nizan Packin's "Law of Black Mirror" class.

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Gamechangers: Gen Z and e-commerce

  1. 1. Baruch College, Dec. 2021 HAMUTAL SCHIEBER, SCHIEBER RESEARCH #TikTokMadeMeBuyIt or: Commerce Gamechangers
  2. 2. Today's agenda Gen Z: The Gamechangers New generation - new expectations New sources of Influence New platforms - new commerce New Commerce - new technology HAMUTAL SCHIEBER, SCHIEBER RESEARCH
  3. 3. McCrindle, Generation Alpha, 2021 (Link)
  4. 4. Non-Binary consumers #maincharacter Community efforts and purpose Self-Care Mindfulness Influence all around IG living & #tiktokmademe Non-stop availability Tribes & Fandom Digital Living Unread... Busy Lives Seeking fun and indulgence Convenience, here and now Stress-Free New Generation, New Expectations HAMUTAL SCHIEBER, SCHIEBER RESEARCH
  5. 5. CONTENT SHOPPABILITY, RESELLING AND THE INFLUENCE CURRENCY Source: Schieber Research, 2018 HAMUTAL SCHIEBER, SCHIEBER RESEARCH
  6. 6. Influence A new set of values and behaviors is delivered through content and creators. HAMUTAL SCHIEBER, SCHIEBER RESEARCH
  7. 7. 85% of global Gen Z consumers have purchased a product or service after seeing it advertised or reviewed on social media Influence WARC, TIKTOK AND PUBLICIS, OCT 2021 HAMUTAL SCHIEBER, SCHIEBER RESEARCH
  8. 8. Influence from Tiktok to Product Development to Consumers HAMUTAL SCHIEBER, SCHIEBER RESEARCH
  9. 9. XIII Personalization & Concierge Consumers expect personal solutions to help them with their lifestyles and specific needs. Customization of products and services - including tailor-made product customization, HAMUTAL SCHIEBER, SCHIEBER RESEARCH
  10. 10. Make it Yours Trends on Tiktok to products and back HAMUTAL SCHIEBER, SCHIEBER RESEARCH
  11. 11. • Amazon has created a discovery page called “Internet Famous: The Latest to Go Viral”, curating a selection of favorite products featured in TikTok videos. HAMUTAL SCHIEBER, SCHIEBER RESEARCH
  12. 12. Tribes Driving conversations •TikTok functions as an umbrella for countless subcultures The platform became a source of education and inspiration
  13. 13. Influencers and creators are selling to their fanbase through their channels and through direct-to- consumer platforms. Meanwhile, consumers are becoming micro-influencers and sellers, through upcycling and recycling, fandom merch and own merch. New platforms - new commerce Consumer-to-Consumer HAMUTAL SCHIEBER, SCHIEBER RESEARCH
  14. 14. New Platforms Livestream videos Facebook research (Sep., 2021) shows that 78% of global consumers say that the shopping experience a company provides is as important as its products and services. Over half (55%) of Gen Zers and 62% of Millennials say they would buy directly from live videos when brands and creators launch new products. Social Commerce As online shopping becomes more prominent, it's important for consumers to still be able to interact with friends and share the experience together. Virtual Stores Many stores are creating virtual versions of their physical stores that you can click to walk through. Shoppers can view displays and be directly linked to the products they see. HAMUTAL SCHIEBER, SCHIEBER RESEARCH
  15. 15. • In 2020, Walmart and TikTok collaborated on a livestream shopping experience, during which the TikTok users could shop for Walmart fashion items featured by popular creators without having to leave the platform. Walmart reported 7X more views than anticipated and grew its TikTok followers by 25%.
  16. 16. Saks Fifth Ave
  17. 17. Aldo
  18. 18. American Girl
  19. 19. Wrangler
  20. 20. Charlotte Tilbury's virtual shopping "wonderland" where you can video-chat with your friends directly on the website.
  21. 21. HUBSPOT 2020
  22. 22. • Depop, the peer-to-peer fashion resale marketplace, has 30 million active users across 150 countries, 90% of them are under the age of 26. In 2021, Etsy acquired Depop for approximately $1.625 billion. HAMUTAL SCHIEBER, SCHIEBER RESEARCH
  23. 23. • Redbubble, an online marketplace for print-on-demand merchandise by independent artists, has evolved into a community that helps individuals celebrate their personal taste, interests, aesthetics, and fandoms. The site even collaborates with brands to allow artists of fan communities to create licensed fan merch. HAMUTAL SCHIEBER, SCHIEBER RESEARCH
  24. 24. New Technology Blockchain, cryptocurrency and NFT Into the Metaverse! @JIMMYFALLON'S BORED APE YACHT CLUB NFT
  25. 25. Ariana Grande held a virtual tour on Fortnite in front of millions of fans worldwide, selling exclusive in-game merchandise and quest rewards
  26. 26. NFTs NFTs transform digital works of art and other collectables into one-of-a-kind, verifiable assets that are easy to trade on the blockchain. A Non-Fungible Tokens is attached to data: who made it, who owns it, and a load of other possible metadata about it are stored on the blockchain.
  27. 27. Skin School x Clinique Laboratories metaverse (2021) is an experimental virtual space that hosts videos from experts, virtual skin classes and behind the scenes peek of Clinique’s beauty products using augmented reality and AI. Recently, Clinique launched its first limited edition NFT, called “MetaOptimist”.
  28. 28. • IMVU hosted a virtual fashion show, featuring digital items from 7 emerging fashion designers that available for purchase and exclusive items for auction as NFTs.
  29. 29. Adidas + Bored Ape Yacht Club, Pixel Valut's Punks Comic and crypto investor Gmoney. Adidas posted teaser visuals of their NFTs donned in apparel with the brands' logos on them.
  30. 30. • Gucci has been partnering with several virtual spaces for the last few years. The brand launched a limited-edition virtual Gucci Garden on Roblox, a virtual island on Animal Crossing: New Horizons for its #ForeverGuilty campaign, a custom in-game fashion line for “the sims 4” and digital products for avatars on Genies.
  31. 31. Conclusion Gen Z: The Gamechangers New generation - new expectations: upcycling, reclaiming, personalization New sources of Influence: tribes, social media, brands New platforms - new commerce: consumer-to-consumer, livestream, social commerce New Commerce - new technology: the future - metaverse, crypto and NFTs HAMUTAL SCHIEBER, SCHIEBER RESEARCH
  32. 32. Thank You www.researchci.com hamutal@researchci.com linkedin: https://www.linkedin.com/in/hamutal/

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