A recent survey conducted by SheerID, in collaboration with Centiment, has uncovered significant insights into the spending behaviors and attitudes of Gen Z consumers aged 18 to 26 in the United States and the United Kingdom. Despite reports of economic improvement, only 30% of Gen Z feels optimistic about the future of the economy, leading to increased frugality among these consumers, especially college students.
The survey highlights a strong preference for exclusive brand discounts and loyalty programs, with 91% of Gen Z college students researching exclusive discounts before making purchases. Social media emerges as the dominant channel through which Gen Z discovers new brands, with recommendations from their community also playing a key role in their purchasing decisions. Exclusive offers, particularly free gifts and free shipping, significantly influence Gen Z's likelihood to buy and foster emotional connections with brands.
The findings suggest that brands looking to attract this influential cohort should focus on providing exclusive offers and engaging with them through multi-touch point campaigns that include digital and face-to-face interactions.
Source: MarketingTech
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