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Just a couple of decades ago, going out without a wallet in your pocket was like forgetting to put your shoes on.
But for the Generation Z, their phone is becoming all they need. Compared to only 17% of the baby boom generation, 69% of teens are using apps to pay for goods and services.
We bring you three Gen Z shopping habits that are slowly changing the way industries approach their customers.
1. Teens Don't Have Cash
Roughly 6% of teens use cash to pay, making them the cashless generation.
Older generations use cashless payment more for significant sums, but to teens, it's normal to use a card even for payments under $5.
While traditional banking has a hard time to adjust, apps like Venmo that combine social media with paying process are on the rise.
2. No Love For Sales Assistants
So teens like to shop online and don't like cash. How is that changing collective shopping habits?
Since teens are all about digital and not direct interactions, a stunning 93% prefer to shop without a sales assistant.
Many shopping malls are closing down with only around 19% of retail stores being able to provide quality shopping experience with zero social interactions.
3. Even Less Love For Brands
Unlike other generations, teens don't care too much about brand loyalty and will quickly switch if they feel like it.
Thanks to the rapid way of life, a clothing brand can be exciting one day and die out the next.
While classic stores that focus on a single brand are struggling, online clothing stores are blooming thanks to the quick ability to browse multiple brands at once.
While for older generations cashless payment and online shopping is a matter of convenience, for Gen Z it's closely tied to their digital life.
Social interactions, entertainment, and shopping has moved from the street onto the screen and are entering the pores of everyday living.
Finally, this won't end with Generation Z as the more we move forward, more changes will happen, and everything will have to adjust once again.
Check below:Best 10 Apps for Transferring Money
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1
Western Union US - Send Money Transfers Quickly
Money Transfers around the World from the US - Send Money Globally with WU
Western Union Android Apps
5M+ FinanceFree- 925 users said "helpful"
- Free
- Feature Rich
- Editor's Choice
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2
![Venmo: Send & Receive Money]()
Venmo: Send & Receive Money
Fun & Fast Mobile Payment
The Delancey Corporation, LLC
Free Install- 97% positive reviews
- Free
- Fresh
- 1M+ Reviews
- Editor's Choice
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3
PayPal Mobile Cash: Send and Request Money Fast
The PayPal mobile app is the secure way to send, receive, and access your money.
PayPal Mobile
100M+ FinanceFree- 6,000 users said "handy"
- Free
- Feature Rich
- 1M+ Reviews
- Editor's Choice
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4
Xoom Money Transfer
The easiest way to securely send money, reload phones, and pay bills worldwide.
Xoom, a PayPal Service
1M+ FinanceFree- 127 users said "helpful"
- Free
- Feature Rich
- Editor's Choice
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5
Cash App
Pay your friends instantly, and cash out to your bank for FREE!
Square, Inc.
10M+ FinanceFree- 654 users said "handy"
- Free
- Editor's Choice
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6
TransferWise Money Transfer
Transfer money abroad quickly, easily and at the lowest possible cost.
TransferWise
1M+ FinanceFree- 411 users said "helpful"
- Free
- Feature Rich
- Editor's Choice
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7
WorldRemit Money Transfer
💸Save money in your international money transfers. Instant, secure & convenient
WorldRemit
1M+ FinanceFree- 396 users said "helpful"
- Free
- Feature Rich
- Editor's Choice
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9
Send money online: card to card
Money transfers to 70+ countries for a low fixed fee. Fast. Easy. Secure.
Paysend Technology Limited
500K+ FinanceFree- 89% positive reviews
- Free
- Fresh
- Editor's Choice
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10
Azimo Money Transfer
Request and receive money from anyone in the UK and Eurozone
Azimo Ltd.
Free- 100 users said "handy"
- Free
- Fresh
- Editor's Choice
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