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TOPIC:
Comparison of Consumer Behavior of Millennials
and Generation Z in Pre and Post Covid Era
Introduction
• Consumer behavior has evolved in Covid-19.
• Past marketing techniques have now become obsolete.
• Report compares pre and post-covid era of consumer behavior of Millennials
and Generation Z.
• Consumer behavior as an important part of marketing.
• Our research tries to understand the impact of consumer behavior in Covid
era.
Literature review
• Consumer behavior incorporates behaviors and actions people have with
products and services to satisfy needs.
• This behavior is influenced via factors such as personal, social, and decision-
making.
• Marketers need to base strategies on consumer needs.
Conceptualizing Consumer behavior
• Values are constant constructs and tough to review.
• Behavior between millennial’s and generation Z have different values regarding
analyzing different aspects.
• Consumer behavior varies from region to region and culture to culture. e.g.
Asian culture varies from that of an individual belonging to the West.
• Consumer behavior predicts individual behavior - How stimuli affects attitudes
that cause behavior.
Comparison of behavior in millennials and
generation Z
• Changes in consumption expenditure can best be understood by taking a
generation approach.
• Gen Z are positively influenced by availability, quality, price, service, and variety
and are unlikely to be influenced by brand name, trend, and advertisement.
• Perception and motivation vastly differ amongst both groups.
• Generation Z is more enthusiastic about online shopping, whereas Millennials
are more likely to indulge in impulse buying.
• Corporations develop effective selling methods by analyzing consumer
behaviors of both groups.
Comparison of consumer behavior of
Millennials and Generation Z in pre and
post-Covid era
• Psychological differences between both generations affect the purchase
development.
• Covid -19 Pandemic has changed behaviors - generation Z's buying behavior
has changed to provide ease for themselves, whereas Millennials take decisions
based on their benefits.
• Shopping and purchasing has now transferred to the digital platform, where
generation Z has found minimal difficulty as compared to Millennials
Factors affecting consumer behavior for
comparison of Millennials and Generation Z
• Factors impacting consumer behavior of both Generation Z and Millennials:
1. Perception - plays a critical role in individual’s purchase decision process that is known
to impact consumer behavior.
2. Motivation - different in both generations, such as security for generation Z is more
preferred.
3. Expectation – things seen as acceptable in one country may be thought of as
extraordinarily offensive in another.
4. Psychological and cognition - Millennials prefer face-to-face shopping experience,
whereas Generation Z is more inclined towards buying digitally.
Impact of Covid-19 on consumer buying
behavior
• Social human reactions have changed during pandemic.
• Has decreased the density of mass socialization in cultural, social gatherings,
and business events.
• Lockdown and social distancing orders have upset the customer's propensities
for purchasing.
• Physical shopping trend was disrupted and brands moved towards digital
buying impacting the Generation Z differently than millennials.
Theoretical framework
• Theories incorporated to understand the research subject:
1. Theory of Planned Behavior - aims to reason the action to predict somebody's intent
to interact in behavior at a selected time and place.
2. Psychoanalytic Theory - relates the concepts to the personality and how it changes
with the situation.
3. Visual perception theory - psychological feature that incorporates several of the
fundamental principles for making individual perception.
Methodology
• Research is based on analyzing existing literature and survey has also been
conducted for qualitative and quantitative research
Data Collection
Information collected via blended method of secondary quantitative and
qualitative data.
• Analysis Method - SPSS is used as an instrument to draw out findings, relations
amongst variables to present the conclusion from the information.
• Research Quality - to eliminate researcher bias, the researcher took due care and
consideration while finalizing information.
Data Analysis
SPSS Analysis
Correlation was tested between the difficulties in buying things digitally versus the
people still buying online.
Correlations
Difficulty in Online Purchase Brand Loyalty _ Covid
Difficulty in Online Purchase Pearson Correlation 1 .270
Sig. (2-tailed)
.212
N
23 23
Brand Loyalty _ Covid Pearson Correlation .270 1
Sig. (2-tailed)
.212
N
23 23
• Independent Sample T-test
Males responded spending more time shopping as compared to females and show
loyalty towards online shopping as well, when compared with females
Group Statistics
Gender N Mean Std. Deviation Std. Error Mean
Socialinfluence1_culture Male
19 4.32 .820 .188
Female
4 3.50 1.291 .645
Socialinfluence2_wordofmouth Male
19 3.58 .838 .192
Female
4 3.75 .957 .479
BrandLoyalty_covid Male
19 3.53 1.219 .280
Female
4 3.00 1.826 .913
SpendTimeinShopping Male
19 2.47 1.073 .246
Female
4 1.50 .577 .289
Oneway
Young ones are less to be influenced by the opinions of their family and friends
compare to elder ones over 30 plus.
ANOVA
socialinfluence3_familyfriends
Sum of Squares df Mean Square F Sig.
Between Groups
.508 2 .254 .411 .668
Within Groups
12.361 20 .618
Total
12.870 22
Discussion
• Marketing tactics need to be different for Gen Z and Millenials.
• Generation Z is highly inclined towards online shopping while Millennials
prefer in-store shopping.
• E-shopping experienced a boom during Covid-19.
• Generation Z finds e-commerce to be reliable and trustworthy, millennials find
online shopping to be difficult.
• Prevalence of stay-at-home culture during the pandemic has decreased impulse
buying.
• Millennial’s expectations are influenced by their peers & word of mouth. Gen Z
is not highly influenced by others expectations.
Conclusion
• Consumer behavior of Millennials and Generation Z has changed due to Covid
19.
• Covid 19 provided the much-needed push for Millennials to switch towards and
rely on e-commerce.
• In post-pandemic world, companies need to identify the changes and research
on differences between the two groups to be successful.

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Comparison of consumer behavior of millennials and generation z in pre and post covid era ppt

  • 1. TOPIC: Comparison of Consumer Behavior of Millennials and Generation Z in Pre and Post Covid Era
  • 2. Introduction • Consumer behavior has evolved in Covid-19. • Past marketing techniques have now become obsolete. • Report compares pre and post-covid era of consumer behavior of Millennials and Generation Z. • Consumer behavior as an important part of marketing. • Our research tries to understand the impact of consumer behavior in Covid era.
  • 3. Literature review • Consumer behavior incorporates behaviors and actions people have with products and services to satisfy needs. • This behavior is influenced via factors such as personal, social, and decision- making. • Marketers need to base strategies on consumer needs.
  • 4. Conceptualizing Consumer behavior • Values are constant constructs and tough to review. • Behavior between millennial’s and generation Z have different values regarding analyzing different aspects. • Consumer behavior varies from region to region and culture to culture. e.g. Asian culture varies from that of an individual belonging to the West. • Consumer behavior predicts individual behavior - How stimuli affects attitudes that cause behavior.
  • 5. Comparison of behavior in millennials and generation Z • Changes in consumption expenditure can best be understood by taking a generation approach. • Gen Z are positively influenced by availability, quality, price, service, and variety and are unlikely to be influenced by brand name, trend, and advertisement. • Perception and motivation vastly differ amongst both groups. • Generation Z is more enthusiastic about online shopping, whereas Millennials are more likely to indulge in impulse buying. • Corporations develop effective selling methods by analyzing consumer behaviors of both groups.
  • 6. Comparison of consumer behavior of Millennials and Generation Z in pre and post-Covid era • Psychological differences between both generations affect the purchase development. • Covid -19 Pandemic has changed behaviors - generation Z's buying behavior has changed to provide ease for themselves, whereas Millennials take decisions based on their benefits. • Shopping and purchasing has now transferred to the digital platform, where generation Z has found minimal difficulty as compared to Millennials
  • 7. Factors affecting consumer behavior for comparison of Millennials and Generation Z • Factors impacting consumer behavior of both Generation Z and Millennials: 1. Perception - plays a critical role in individual’s purchase decision process that is known to impact consumer behavior. 2. Motivation - different in both generations, such as security for generation Z is more preferred. 3. Expectation – things seen as acceptable in one country may be thought of as extraordinarily offensive in another. 4. Psychological and cognition - Millennials prefer face-to-face shopping experience, whereas Generation Z is more inclined towards buying digitally.
  • 8. Impact of Covid-19 on consumer buying behavior • Social human reactions have changed during pandemic. • Has decreased the density of mass socialization in cultural, social gatherings, and business events. • Lockdown and social distancing orders have upset the customer's propensities for purchasing. • Physical shopping trend was disrupted and brands moved towards digital buying impacting the Generation Z differently than millennials.
  • 9. Theoretical framework • Theories incorporated to understand the research subject: 1. Theory of Planned Behavior - aims to reason the action to predict somebody's intent to interact in behavior at a selected time and place. 2. Psychoanalytic Theory - relates the concepts to the personality and how it changes with the situation. 3. Visual perception theory - psychological feature that incorporates several of the fundamental principles for making individual perception.
  • 10. Methodology • Research is based on analyzing existing literature and survey has also been conducted for qualitative and quantitative research Data Collection Information collected via blended method of secondary quantitative and qualitative data. • Analysis Method - SPSS is used as an instrument to draw out findings, relations amongst variables to present the conclusion from the information. • Research Quality - to eliminate researcher bias, the researcher took due care and consideration while finalizing information.
  • 11. Data Analysis SPSS Analysis Correlation was tested between the difficulties in buying things digitally versus the people still buying online. Correlations Difficulty in Online Purchase Brand Loyalty _ Covid Difficulty in Online Purchase Pearson Correlation 1 .270 Sig. (2-tailed) .212 N 23 23 Brand Loyalty _ Covid Pearson Correlation .270 1 Sig. (2-tailed) .212 N 23 23
  • 12. • Independent Sample T-test Males responded spending more time shopping as compared to females and show loyalty towards online shopping as well, when compared with females Group Statistics Gender N Mean Std. Deviation Std. Error Mean Socialinfluence1_culture Male 19 4.32 .820 .188 Female 4 3.50 1.291 .645 Socialinfluence2_wordofmouth Male 19 3.58 .838 .192 Female 4 3.75 .957 .479 BrandLoyalty_covid Male 19 3.53 1.219 .280 Female 4 3.00 1.826 .913 SpendTimeinShopping Male 19 2.47 1.073 .246 Female 4 1.50 .577 .289
  • 13. Oneway Young ones are less to be influenced by the opinions of their family and friends compare to elder ones over 30 plus. ANOVA socialinfluence3_familyfriends Sum of Squares df Mean Square F Sig. Between Groups .508 2 .254 .411 .668 Within Groups 12.361 20 .618 Total 12.870 22
  • 14. Discussion • Marketing tactics need to be different for Gen Z and Millenials. • Generation Z is highly inclined towards online shopping while Millennials prefer in-store shopping. • E-shopping experienced a boom during Covid-19. • Generation Z finds e-commerce to be reliable and trustworthy, millennials find online shopping to be difficult. • Prevalence of stay-at-home culture during the pandemic has decreased impulse buying. • Millennial’s expectations are influenced by their peers & word of mouth. Gen Z is not highly influenced by others expectations.
  • 15. Conclusion • Consumer behavior of Millennials and Generation Z has changed due to Covid 19. • Covid 19 provided the much-needed push for Millennials to switch towards and rely on e-commerce. • In post-pandemic world, companies need to identify the changes and research on differences between the two groups to be successful.