How do Greek Gen Z shop and pay?

Visa and the Institute of ESEE has revealed the results of a panhellenic survey, spotlighting the shopping and payment behaviors of Generation Z in Greece.

The survey¹, commissioned by Visa and conducted by the Institute of ESEE, provides valuable insights into the evolving landscape of digital payments and consumer behavior among Greeks aged 17-30. The survey reveals that over half of the respondents, 56%, shop both online and in-store. When it comes to the means of payments, nearly 8 out of 10 primarily use digital payments, while cash is still chosen by almost 40% of those shopping in stores.

Significant preference for digital payments except € 0-20 transactions

While cards and cash split almost evenly for transactions up to €20, digital payments are preferred for transactions ranging from €21 to over €100. Digital payments are chosen by 75% for purchases between 21-50 euros (vs 25% cash), with this percentage rising to 82% for 51–100-euro purchases, and 84% for purchases over 100 euros.

Regular online shopping, individual research influences purchases

The survey also highlights the growing trend of online shopping among the Gen Z, with 28% of participants shopping this way 1 or more times per week and 42% doing so once or twice a month. While 38% tend to shop through social media, this is not done on a systematic basis.

Among the key factors influencing purchase behaviors are personal research on websites and shopping platforms, 35%, followed by social media ads and in-store advertising accounting for 16% each.
According to the respondents, traditional advertising (newsletters, TV ads, push notifications in apps) but also influencers influence purchases of this age group to a smaller extent.

65% feel unsafe to shop from unknown / new websites

When it comes to payments security, 65% of participants feel unsafe when shopping from “unknown or new websites” with international marketplaces and social media following with 9% and 12% respectively among the least trusted channels.

Nikos Petrakis, Country Manager, Visa Greece, said: “For us at Visa, understanding the unique shopping habits and preferences of Gen Z is vital. This generation is shaping the future of commerce, and we are here to create experiences tailored to their needs. By offering innovative and secure payment solutions, we aim to make their shopping not only convenient but also enjoyable. Our commitment is to create a seamless and secure shopping environment that resonates with the values and aspirations of Gen Z and helps businesses stay relevant.”

“It is encouraging to find out that Gen Zers largely choose digital payments as their primary payment method for being fast and convenient irrespective of where they shop, while shopping online and through social media present important commerce opportunities that we’re here to support.”, added Mr Petrakis.

Valia Aranitou, Scientific Director of the ESEE Institute and Associate Professor at the National and Kapodistrian University of Athens stated: "Digital means of payment are emerging as a big protagonist in the daily lives of Gen Z in all categories of consumption both in physical stores and online. This generation is particularly familiar with shopping on the web, with the majority having no difficulty completing their online purchases. At the same time, convenience and speed seem to be very important factors for both those who shop exclusively online and for those who combine this way of shopping with purchases at physical stores. Finally, what is particularly interesting is the motivation of this generation to shop based on personal research online, while social media follows with less intensity. Purchases on foreign marketplaces seem to have a non-systematic character."