Meet Generation Z: A price-conscious group that seeks personal interactions at retailMeet Generation Z: A price-conscious group that seeks personal interactions at retail

Members of Generation Z are seeking products that provide both an experience and instant gratification, according to the findings of a study of more than 2,000 Americans ages 14 to 19 by San Diego-based Interactions, a retail marketing firm.

It found that 89 percent are very price conscious, with 62 percent preferring to spend their money on experiences vs. material items. Although most of their weekly budget is spent on food, nearly half (48 percent) spend money on experiences with friends.

Despite being digitally connected, these teens value personal interactions, with the top three most sought components of the in-store experience being a clean store, friendly and knowledgeable associates and a positive checkout experience.

"Generation Z is constantly connected to technology, which retailers may find intimidating to overcome when it comes to in-store engagement," said Interactions President Bharat Rupani, in a statement. "However, our study found that this group is longing for retailers to provide an engaging in-store experience. In fact, when given the choice, over 64 percent prefer shopping in-store versus online."

The survey also found that:

Gen Z is not brand loyal—81 percent are willing to switch from their favorite brand if they find a similar product at a higher quality.

64 percent prefer to use cash vs. credit and debit cards.

Almost two-thirds (63 percent) expect retailers to have a social media presence, and 82 percent state that the opinions of others on social media have influenced them to shop at a retailer they've never shopped at before.

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This piece originally appeared on supermarketnews.com, a New Hope Network sister website. Visit the site for more grocery trends insights.