Generation Z drives U.S. e-commerce sales growth, reaching $2.89 trillion by 2030

It is learned that according to foreign media reports, data from Bloomberg Intelligence shows that by 2030, Generation Z is expected to account for about 17% of US sales, driving e-commerce sales to increase 1.75 times to US$2.89 trillion.

The report shows that more than 30% of Gen Z consumers classify themselves as "beauty enthusiasts", which is almost twice the proportion of consumers as a whole. Although the number of Gen Z consumers with regular skin care habits (33.5%) is almost the same as the overall level (36%), more than 75% of Gen Z consumers regularly use products beyond basic beauty essentials.

Meanwhile, the shopping behavior of Generation Z is deeply influenced by social media. Nearly 80% of Generation Z believe that social media is the best way to find new beauty products, which is much higher than that of Millennials (62%) and Generation X (42%). The influence of social media has made Generation Z more eager to try new products. More than 40% of Generation Z list "trying new products" as the primary motivation for shopping, which is higher than that of Millennials (37%) and Generation X (29.5%). 45% of Generation Z consumers spend $50 or more at beauty retailers each time, further indicating their strong interest in this field.

Generation Z’s preference for secondhand clothing is also leading the growth of e-commerce in the United States. Forecasts show that Generation Z may drive U.S. e-commerce sales (including clothing) to grow 1.75 times to $2.89 trillion by 2030, with a compound annual growth rate of 8%. In the past year, 65% of Generation Z and millennial consumers bought secondhand clothing, compared with 52% of overall U.S. consumers.

In addition, resale platforms have become the main channel for Generation Z to shop, with 63% of second-hand clothing consumers choosing to buy online, while this proportion is as high as 71% among Generation Z and Millennials. When buying clothing, 41% of overall consumers and 50% of Generation Z and Millennials will first look for second-hand goods. At the same time, 25% of overall consumers and 33% of Generation Z and Millennials will choose to resell old clothes.

According to eMarketer, Gen Z is more likely to use platforms like Depop, OfferUp and Poshmark, while millennials are more likely to use Bonanza, The RealReal and ThredUp.

Author ✎ Rayna/

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