5 min read
Key takeaways
- Gen Z holiday shoppers favor omnichannel experiences and early bird deals
- 50% of 2024’s busiest online shopping days fell between Black Friday and Cyber Monday
- Retailers can meet the moment by investing in technology and personalized marketing to exceed shopper expectations and boost engagement
Introduction
Leveraging data from our J.P. Morgan Customer Insights tool, we conducted a comprehensive analysis of consumer spending patterns during the 2023 and 2024 holiday shopping season. Anchored by the period between Black Friday and Cyber Monday, we saw significant shifts in consumer behavior across age and income groups. Our insights revealed how Gen Z is engaging with retail, how clothing sectors are evolving and what these changes mean for merchants hoping to capture the next wave of holiday spenders.
Discover how Gen Z is rewriting holiday retail
This infographic presents insights from J.P. Morgan Customer Insights, focusing on holiday shopping trends in the Clothing Stores category for 2024, with a special emphasis on Gen Z (ages 13-28).
Key Highlights
1. Holiday Wrapped Report
- The report uses aggregated transaction data to highlight holiday trends, specifically in clothing stores.
2. Gen Z Spending Patterns
- Gen Z (ages 13-28) is identified as the generation spending big on style, compared to Millennials (29-44), Gen X (45-60), and Baby Boomers (61+).
3. Gen Z Travel for Fashion
- More than 60% of Gen Z’s omnichannel spending (shopping both online and in-store) happens more than 10 miles from home.
- For other age groups, this figure is closer to 50%.
4. Omnichannel vs. Online-Only Shopping
- Over 55% of Gen Z’s holiday apparel spend came through omnichannel experiences.
- Less than 25% of their spend was via online-only channels.
- This shows Gen Z prefers a seamless shopping experience that combines online and in-store options.
5. Holiday Transaction Trends
- 50% of the top 10 online transaction days occurred during the Black Friday to Cyber Monday period.
- The bar chart shows a spike in transactions in December, especially around Black Friday and Cyber Monday.
6. Black Friday Shopping Habits
- More than 45% of Gen Z’s Black Friday sales happen between 6-9 AM.
- This is a 30% higher concentration than any other age group, making 6 AM the new peak shopping time for Gen Z.
Source: J.P. Morgan Internal Data, 2024
Disclaimer: The data is based on J.P. Morgan Chase & Co. internal analysis and is intended for informational purposes.
Gen Z: Transforming trends in retail
Credit took over in May 2024. It’s not looking back.
Starting in May 2025, credit card usage consistently exceeded debit for Gen Z holiday shoppers.
This evolution marks a strong trend toward a preference for credit, which may reflect changes in financial behavior, increased confidence in credit products, or new consumption strategies among customers in this segment.
Graph shows Debit decreasing from Jan 2023 to May 2024, and Credit increasing from Jan. 2023 to May 2024.
As retailers adapt to shifting consumer behaviors, understanding the preferences and habits of Gen Z has become increasingly important. Recent 2023 and 2024 data highlights notable changes in how this generation shops, pays and interacts with retail experiences.
Data insight: Gen Z’s share of clothing store sales grew by about 1.5% in Q4 2024 compared to Q4 2023, outpacing all other age groups.
Recommendation: Gen Z is becoming an increasingly important customer segment for clothing retailers. Businesses should recognize this growth and pivot to more personalized Gen Z marketing strategies to drive both higher sales volumes and a greater share of market activity.
Data insight: Gen Z payment preferences are evolving; credit card usage overtook debit card usage starting May 2024, a reversal from 2023. This shift may reflect growing financial confidence and changing consumption strategies.
Recommendation: Retailers should introduce alternative payment options to help ensure credit card payments are available and prominently supported both online and in-store. Consider partnering with credit card companies to offer targeted rewards, discounts or loyalty programs that appeal to Gen Z shoppers.
Data insight: Less than 45% of Gen Z in-store spending happened within 10 miles of home, while other demographics spent over 50% locally. About 40% of Gen Z’s omnichannel spending was local, compared to around 50% for other groups. During peak events, over 55% of Gen Z’s spending was omnichannel, while other demographics averaged just 30%.
Recommendations: Gen Z values experiential shopping and is willing to travel for it. Retailers should consider offering in-store specials and events and invest in technology that supports real-time inventory and seamless online and in-store shopping experiences.
Seamless shopping isn’t optional anymore.
Over 55% of Gen Z’s total holiday spend occurs via omnichannel experiences (integrated online and offline shopping).
Compare that to <25% via online-only channels.
Graph shows Gen Z omnichannel shopping at more than 55% and Gen Z online-only shopping at less than 25%.
Income-based trends: Affluent vs. mass market peaks
Shoppers showed new preferences in timing, income-driven patterns and age group habits, reshaping the landscape for retailers. Leveraging these data shifts is essential for businesses looking to optimize their holiday marketing strategies and capture key audiences during the most important shopping days of the year.
Data insight: 50% of 2024’s top 10 online (card-not-present) transaction days fell between Black Friday and Cyber Monday. Transaction volumes remained high through December 25, signaling a more sustained holiday shopping season.
Recommendation: Retailers should use this critical high volume e-commerce period as an opportunity to build loyalty by distributing coupons that can be used until the end of the year—encouraging customers to return.
Data insight: Affluent households earning $200,000 and above dominated Black Friday and Cyber Monday sales. In contrast, shoppers earning $0–100,000 peaked in spending between December 25–27, possibly reflecting returns or post-holiday purchases.
Recommendation: Premium brands should make Black Friday and Cyber Monday key events, highlighting luxury, high-end and exclusive deals. Value brands should emphasize deals on items commonly returned or exchanged, and offer incentives for post-holiday shopping.
6 AM is the new Black Friday rush.
More than 45% of Gen Z’s Black Friday sales happen between 6-9 AM.
That’s a 30% higher concentration than any other age group.
Data insight: On Black Friday 2024, over 45% of Gen Z’s sales happened between 6–9 AM, compared to less than 35% for other groups. Their spending during this window was 30% higher than the next closest age group.
Recommendation: The data highlights Gen Z’s price sensitivity and eagerness for early deals. Retailers could use this opportunity to promote early bird bundles for online shopping to increase cart size and generate more revenue.
Looking ahead to the 2025 holiday season and beyond
The way consumers shop is rapidly evolving. Utilize J.P. Morgan Customer Insights to better understand shopping habits and continuously refine your approach to build lasting loyalty throughout the season.
Preparing for peak shopping periods means ensuring your online platforms can handle heavy traffic and high transaction volumes, while also leveraging early morning shopping to promote high-value items and bundles. Don’t neglect in-store operations—staff appropriately, maintain inventory and implement an endless aisle strategy to maximize every sales opportunity. Foster customer loyalty with enticing coupons and keep shoppers engaged through in-store specials and events, especially as Gen Z is motivated by discounts. Retailers who adapt will be best positioned to win future holiday shoppers.
Learn more about our Customer Insights Solution and how we can help you navigate data.
References
Data sourced by J.P. Morgan Customer Insights
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