Filippo Bacci / iStock.com
In recent years, major retailers have revamped their marketing to better cater to the Gen Z customer demographic. For example, Walmart is relaunching its young women’s apparel brand, No Boundaries, which features trends and styles that resonate with Gen Z. Big name stores and brands like Target, H&M, and Marc Jacobs are leveraging TikTok and social media influencers to specifically reach Gen Z consumers and encourage them to spend more money in their stores.
These marketing ideas will undoubtedly attract more Gen Z shoppers, but it’s important to know how they can get involved in shopping at these stores and buy the products they want while saving money.
Set a budget and stick to it
One of the best ways to save money while shopping is to be financially disciplined. Sticking to a budget will help you stay within your limits and only spend what you can afford. Gen Z can use budgeting apps like Mint and YNAB to help them reach their financial goals. One of the most important things to spend within a budget is to avoid impulse purchases.
“Marketing ploys are tempting, but Gen Z can save money by making and sticking to a shopping list,” says Brendon McCullough, founder and managing director of DealHack. “Avoiding impulse buys and focusing only on what you really need will help you maintain financial discipline.”
Another thing retailers often implement in their marketing strategies to avoid is the fear of missing out (commonly known as FOMO), which pressures shoppers into making unnecessary purchases. Gen Z should look to marketing tactics that instill a sense of urgency and lead to impulse purchases. Instead of giving in to their impulses, Gen Z should do their research.
“Reading reviews and doing thorough research before you buy can help you avoid buying a poor quality product and ensure you’re getting the best value for your money,” McCullough says. “Product reviews on websites like Consumer Reports and on retailer sites can provide valuable insight.”
Understanding Marketing Strategies
It’s also beneficial for Gen Z shoppers to know what marketing tactics retailers are using to get them to buy. Big box stores are starting to leverage social media influencers, targeted advertising, and trending products that appeal to Gen Z’s interests.
Gen Z shoppers can make more informed purchasing decisions if they approach these marketing tactics with a critical eye.
Buy Generic or Store Brand
Whether you’re buying skin care products, groceries, or household items, one way to save money at big box stores is to choose store brands. Big box stores often carry both name brands and store brands. Name brands are usually more expensive than generics, but you’ll often get the same quality and results with both options.
“These choices allow Gen Zers to save money,” McCullough said. “For example, Target’s Up & Up and Walmart’s Great Value brands offer great value.”
Take advantage of discounts and promotions
Finally, Gen Z shoppers can save money by taking advantage of sales offered by big box retailers.
“Patience can be a great savings strategy,” McCullough said. “Gen Z should wait for big sales events like Black Friday, Cyber Monday, or seasonal sales when retailers often offer deep discounts.”
By subscribing to newsletters and following retailers on social media, Gen Z shoppers can learn about upcoming exclusive sales from stores and know the best time to go shopping.
“These combined strategies allow Gen Z to take advantage of new marketing approaches from major retailers without sacrificing their savings goals,” McCullough said.
More from GOBankingRates
