Page 8 - TFWA World Exhibit 2022 Special Edition

INSIDER

How to appeal to younger shoppers when they travel:

m1nd-set analyzes Millennials vs Gen Zs

In one of its most recent studies, travel
research agency m1nd-set took a deep look
at how travel retailers should best market
to younger consumers when they travel.
The two-month age-demographic specific
research found significant differences and
unique trends between Millennials and the
younger Gen Zs.
In its August newsletter, m1nd-set
explained that the research looked at the
importance of both of these age segments,
comparing their behavior to that of all
passengers, and analyzed how they buy,
what they buy, why they buy and how
much they spend among a range of other
behavioral traits.
Millennials –who were born between
the early 80s and mid 90s and are currently
aged between 26 and 41, have much more
spending power than the Gen Zs segment, following the interaction, while only 67% Peter Mohn, Owner & Chief
who are currently aged between 10 and of Gen Z shoppers said they purchased a Executive Officer at m1nd-set, explained:
25. But Gen Zs represent around one third product thanks to the interaction. “It is extremely important for travel retail
of the global population and their share of marketers marketing to Millennials and
consumer spend will grow significantly. Reaching out: Touch Points Gen Z traveling consumers to understand
In its newsletter, m1nd-set notes that Another significant difference in where to reach their target audiences when
while Millennials were the first generation shopper behavior is how Gen Zs and they are not traveling. For both these age
to grow up in the age of the internet, Gen Millennials react to communications touch segments, it’s clearly online where they
Zs are the first generation to grow up in the points. More than half of Millennials can be found but among Gen Zs it’s most
age of mobile internet and social media, (55%) notice touch points prior to their commonly on the mobile and via certain
and this impacts how and when to reach purchase in GTR when traveling. This is social media services.”
them when they travel, says m1nd-set. above the 47% reported for all passengers. Mohn says that “Platforms such as
Significantly, only 15% of the Gen Zs say TikTok have to be integral to the marketing
Engagement they noticed touch points prior to purchase. mix for marketers who are intent on
There are significant differences in This indicates the generational behavior reaching Gen Z shoppers while Millennials
how the two groups react when shopping. differences in general regarding how and are more prone to be across multiple
One major difference, m1nd-set reports, is where the various age groups source and platforms such as Facebook, Instagram and
their respective tendency to engage with digest their information. Twitter.”
important shopping influencers, such as
communications touch points and sales
staff. Gen Zs tend to approach the sales
associates in Duty Free shops considerably Editor/Publisher: Lois R. Pasternak
less than Millennials. Only 38% of the In Memoriam: Paul A. Pasternak
younger age segment say they engage Executive Editor: Michael Pasternak
with sales associates, 30% lower than Editorial Contributors: John Gallagher, Joe Bates
Millennials, 68% of whom interact with Production Coordinator & Designer: Chris Hetzer
store staff. Millennials also tend to engage Design and Production: It’s About Time, Inc.
Webmaster: Michael Pasternak
with sales associates more than average, Printing by The Printer’s Printer. Ft. Lauderdale, Florida
since 65% of travelers from all age groups This publication is a special supplement of Travel Markets Insider, published
interact with sales staff. by Pasternak Communications, Inc., 255 NE 3rd Ave No. 312, Delray Beach,
The impact of the interaction is also FL. 33444 USA. www.travelmarketsinsider.net
E-mail: editor@travelmarketsinsider.net
lower among Gen Z shoppers, reports Tel (561) 908-2119
m1nd-set. More than eight out of ten Travel Markets Insider is a weekly newsletter distributed 50 times a year
via e-mail, on a subscription basis only.
shoppers among Millennials and all age The annual subscription is US$200. Printed in the USA. All rights reserved.
groups combined report a positive outcome © 2022 by Pasternak Communications, Inc.

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