SHOPPING & BUYING HABITS OF GEN Z PART 1 RESEARCH
Unlike other generations, Gen Z approaches their purchases in a very personal way. They are not impulse buyers. They will research the products they use. The Brands they support must agree with their personal socially responsible philosophy.
GEN Z DOES RESEARCH FIRST
Gen Z approaches purchases in a very thoughtful way. They are not impulse buyers. Their purchases are personal and the products they use and the Brands they support must be in alignment with their personal socially responsible philosophy. They would never endorse or use a product that goes against their grain. But to determine where your product stands, they will do their research.
5 WAYS GEN Z WILL RESEARCH YOUR PRODUCT
64% use their Smartphones or Tablets for browsing and research only - not purchases.
59% compare prices before purchasing.
58% read product reviews.
52% look for product availability.
46% look up store locations.
PURCHASING POWER OF GEN Z
Gen Z circa 1996 - present. As an astute marketing executive or business owner you should be jumping up and down over the sheer purchasing power of this generation. Not only do their numbers account for all other generations combined, but their influence over the purchases of others in their circle makes them a desired and valuable demographic. Currently there are 74 million of these Digital Natives living in the United States with 40% purchasing power. Add the 40% to those other purchases they influence and we are looking at numbers never seen before. Right now their buying power clocks in at $44 billion and increases to $600 billion when considering the influence they have on their parents' spending. Grabbing their attention while on their college campus will give your brand the foundation necessary to grow with them when they enter the workforce.
Image via Post Funnel Statistics via UNIDAYS.
Author: Joe Rivard, President, N Compass Media. "If you think your Brand may not be Gen Z friendly, contact me. N Compass Media offers many creative opportunities to promote your Brand to Gen Z on their college campus. Take advantage of my complimentary 30 minute consultation where you can discuss the best way to get Gen Z to notice your Brand on their college campus."