June 10, 2019
The Motley Fool Features Blackhawk Network Generational Research
Nationally recognized media outlet The Motley Fool, read by millions, recently published an article spotlighting Blackhawk Network research, which examined the generational divide in the way consumers shop. The piece shared Blackhawk’s findings that younger consumers—Gen Zers and Millennials—are more willing to try innovative shopping options such as virtual reality shopping apps, pop-up stores and voice shopping on smart speakers. It also provided insights into what these habits could mean for household name retailers and brands such as Amazon, Walmart and Facebook.
Additional key findings from Blackhawk’s research include:
- Purchase of egifts is more frequent among younger generations and is catching up with physical cards. Forty-one percent of Gen Z consumers and 39 percent of Millennials surveyed purchase egifts at least once every three months, compared to 26 percent of Gen X consumers and 14 percent of Boomers.
- Younger generations, led by Millennials, are open to using egifts as branded payments tools. The majority of Millennials surveyed (72 percent) have used egifts and have also tried other mobile payment solutions, including mobile apps (60 percent), gift card in mobile wallet (44 percent), and mobile wallet (42 percent). Gen Z consumers are not far behind.
- Gift card merchants have made improvements in their omnichannel gift card offerings, but more can be done. According to the 2018 Merchant Gift Card E-Commerce Evaluation** report conducted by NAPCO research, 51 out of 100 brands evaluated offer both egifts and physical gift cards across desktop, mobile and mobile app (when applicable). Though this marks an improvement over the previous year’s study, more progress can be made particularly in mobile.