A report by Infinite Reality highlights the challenges retailers face in meeting the needs of Gen Z consumers. Current e-commerce systems struggle with low online conversion rates compared to physical stores and high return rates. To address these issues, retailers need to adopt immersive shopping technologies. The study indicates that a significant percentage of younger consumers are comfortable engaging with products virtually. As Gen Z continues to influence retail trends, their expectations for online and offline shopping will only increase, necessitating innovation in how products are sold.
The current e-commerce system is failing brands and consumers, with online conversion rates averaging 2.5 to 3 percent, in stark contrast to physical stores' rates of 20 to 40 percent.
Retailers and brands must engage Gen Z using immersive technologies, as 66% of consumers are comfortable with virtual interactions, rising to 72% among younger shoppers.
In-game shopping has transitioned from a novelty to a common practice among younger consumers, as platforms like Roblox and Fortnite lead the charge in this trend.
As Gen Z consumers will shop online more frequently, their expectations for both digital and in-person experiences will continue to rise significantly.
Collection
[
|
...
]