Brand Loyalty, Online Shopping, Environmental Awareness and Risk Averse: The Differences between Generation Y and Generation Z
Generation Z has started to enter workplace joining Generation Y. Both, they will be the major force of consumer with huge spending power and estimated to contribute to almost half of workforce in 2020. Generation Z shared some common characteristic with Generation Y, such as digital naïve, constant connection online, high confident and demanding. However, they are born and raised in different economic and life situation. Those differences will affect their beliefs, behaviors and values. The difference characteristics of both generations are important to be understood by marketers when segmented those two generation. Thera are still limited studies to see the difference between generations. The aim of this study was to see the differences between Generation Y and Generation Z in Indonesia on brand loyalty, online shopping preference, concern on environmental issues and their perception on taking risk. Using descriptive quantitative, this study was conducted in generation Y and Z in Indonesia. Samples were collected using snow ball methods. A four-point Likert’s scale questionnaires were designed and distributed. One hundred and forty samples were collected and eligible to be analyzed. The result showed there was a significant different in brand loyalty between the two generations. Both generations shared similar preference in online shopping. There is no difference in online shopping preference in the two groups. Both generations are concerned about environmental issue, however, Generation Z seemed to have more concerned compared to Generation Y. The study also showed than Generation Y is more risk taker than their younger counterpart. This study contributes to the body of evidence on Generation Y and Z characteristics.