Lack of trust in a brand is the top reason one in three (28%) Gen Z shoppers would abandon a purchase when shopping direct with a retailer online, indexing +9 percentage points higher than the average UK customer.
A poll of over 1,500 consumers by Wunderkind in its latest Consumer Insights Report revealed that trust issues were also a core driver for cart abandonment for over a quarter (26%) of the Millennial shoppers polled.
The role of reputation and trust continues to be a growing consideration within purchasing decisions, with Forter’s Consumer Trust Premium report suggesting UK consumers would spend +44% more, on average, with retailers they trust, while a further 73% said they were more loyal to brands they perceive to be authentic.
And this growing need for authentic brand experiences is also evolving channel choices and preferred customer engagement among younger Gen Z shoppers specifically, with a quarter (25%) saying they would choose to shop on a retailer’s DTC (Direct-To-Consumer) website as their top ‘trusted channel’. Gen Z is also now almost twice as likely than other shopper demographics to value brand name recognition (16% vs 9%), emphasising the role of reputation and trust in their purchasing decisions.
Meanwhile, when it came to content engagement, authentic brand storytelling indexed +5 percentage higher for Gen Z consumers (15%) compared to the average UK shopper (10%) when it came to encouraging them to visit a brand’s website frequently, with the role of reviews and User Generated Content (UGC) also ranking +9 percentage higher for Gen Zers (48% vs 39%), showcasing the role of social proof in building credibility in buying journeys.
“As Gen Z’s global spending power skyrockets, set to grow to $12trillion by 2030, this represents a significant opportunity for retailers to acquire, engage and retain younger cohorts of consumers who seek more meaningful and authentic interactions with the brands they buy from,” Wulfric Light-Wilkinson, General Manager International of Wunderkind, commented. “Compelling content plays a pivotal role in driving repeat visits to brand websites and apps. By helping consumers connect with products, trust brands and find value in their interactions, the right content fosters engagement and loyalty, allowing brands to deepen connections and maximise reach.”
