Generation Z is the next generation to enter the market soon. A generation, also known as Generation I, that has grown up completely with the internet and mobile applications. They have no knowledge of the pre-internet era. Their expectations will be even more demanding when it comes to convenience, control, cost and choice.
This generation covers about 2.5 billion consumers worldwide with an expected spending power of almost 100 billion euros. By 2020, this generation will make about 40 per cent of all online consumer purchases. As a 3PL, you better be prepared for this. Here are the five key points your supply chain needs to meet.
1. Omnichannel fulfilment
Generation Z shoppers buy more from their smartphones than any other generation. But they also love shopping in malls and picking up items in shops. In addition, they expect same-day delivery at home, work or school. For this new shopper, there is no distinction in how and where they shop, but rather the expectation of a seamless experience
2. Optimised e-commerce sites
3PL warehouses need to ensure that their mobile sites are lightning fast and easy to navigate. Full real-time visibility of your stock is then essential.
If a mobile site takes more than 3 seconds to load, 53 per cent of Generation Z will switch. Tomorrow's warehouses should partner with WMS vendors that offer a platform with full API integration.
3. Transparency
Today's 3PLs need to maintain full insight into the buying process. From the moment the customer checks the availability of a product, to the moment it is delivered. For many 3PLs, this starts with offering stock availability, automatic e-mail notifications on the progress of the buying process and a permission-based web portal for customers.
4. Superior customer experience
Generation Z consumers expect to be treated like 'royalty'. This requires not only an understanding of customer needs and requirements. It also requires the right tools to keep in touch with customers. These may include:
- chatbots;
- 24/7 access to live, qualified representatives;
- accessible along multiple channels from email to social media;
- clear FAQ page;
- easy-to-find support when problems arise;
- respect privacy!
Remember that if you build a good relationship with your customers, they will not only come back but can grow with you and vice versa.
5. Seamless product returns
Returned items are still a big problem for e-commerce retailers. But it's about to get even more challenging. While it is estimated that only 4 per cent of Gen Z will return more than 75 per cent of their purchased items, this is 3 times higher than for other buying generations. An efficient system should not only handle returns easily, but also be distinctive. You can do this by:
- pre-printed, easy-to-follow labels and instructions on every parcel;
- additional customised collection and exchange options;
- a hassle-free WMS to update inventory automatically;
- maximum online service and support;
- use easily reusable packaging.
