The Gen Z Market Has A “Need For Speed”
Generation Z (Gen Z) is the demographic that many e-commerce companies are looking to market and sell to today, and for good reasons. By 2020, this generation of influencers is projected to account for 40 percent of consumers, with $44 billion worth of buying power today. Moreover, Gen Z’ers value hyper-convenience and want services and products they can consume immediately. This “need for speed” is also fostered by start-ups and companies disrupting various business sectors, with Amazon being the lead example for e-commerce.
This trend extends to both domestic and international clients, and for businesses trying to expand their market reach globally, they must pay extra attention to it. There are several reasons why delivery speed can be especially affected in the cross border journey of a product.
There’s the obvious reason of simple geography: a brand’s merchandise must travel further to reach its destination in a cross-border transaction. But sheer distance aside, there are several potential speed bumps along the delivery route that can make the process even longer. These include inaccurate or incomplete customs paperwork, using the wrong product classification for the specific country the product is being shipped to, or a misstep with the local last-mile carrier.
The situation is even worse when the purchase is a gift with specific timing involved, such as a birthday or a gift-giving holiday. The customer who shows up to Christmas empty-handed because their items didn’t arrive on time will remember that negative experience and next year, they will shop with a retailer they trust to deliver their items on time.
Capturing the Gen Z market calls for you having the right shipping partner, and Access Worldwide can help brands execute on both their domestic and international shipping strategies!