Consumer Behavior

Gen Z, millennials are all about summer sales

Adobe Stock

July 31, 2023

A good number, 68%, of Gen Z and millennials are delaying major purchases this summer until there is a sales event or discounted price and 20% of Gen Z has participated in at least three summer sales events.

Those are findings from an Algolia survey regarding consumer sentiment and summer sales.

While nearly half of consumers (47%) have participated in a summer sales event, their shopping habits are reflecting the state of economic uncertainty, according to a press release on the findings which also revealed consumers are excited about how AI could enhance the shopping experience.

Additional findings include:

• Nearly two-third (61%) of consumers are using sales events as an opportunity to purchase items that they may not immediately need (e.g., bulk essentials). Additionally, 32% have cut back significantly and only purchased the most necessary items, while another 36% have also cut back on non-essential luxuries.
• The majority (55%) of shoppers want AI to direct them to discounted products that align with their needs, 49% want AI to help them find items on their shopping list faster and 38% want AI to help them discover new products.

The study was conducted by Dynata and polled 1,000 consumers in the U.S., 18 years or older.