Growing up is inevitable, and as Gen Z matures into a generation with increased consumption power, it’s important for marketers to pay close attention to how they approach and engage with brands. Fortunately for us, Snapchat in partnership with CASSANDRA, has recently released a report detailing the latest insights on Gen Z consumer behavior. Here are all the stats you need to know:
In terms of brand discovery:
1. Gen Z finds out about brands primarily through friends and family. This specifically applies to retail, entertainment, fashion, and technology brands.
2. Secondary sources for brand discovery consisted of in-store brand discovery, “other”, and online.
3. Influencers and sponsored were the least popular methods for brand discovery amongst this younger generation.
In terms of conducting brand research:
1. According to snapchat 35% of Gen Z participants prefer learning about a brand through a brand’s official website.
2. When learning about new brands, secondary sources include friends and family as well as expert reviews and ratings.
3. Gen Z resorts to social media accounts the least when trying to inform themselves about a brand, its product or services.
In terms of choosing between competition:
1. Gen Z is interested in brands that offer unique experiences over those that do not.
2. When engaging in brand experiences, Gen Z is interested in sharing those experiences with their friends.
3. When choosing between brands, Gen Z consumers would be interested in trying a brand their friends talk about.
4. Gen Z is looking to be entertained, educated, and advised.
In terms of abandoning a brand:
1. Gen Z consumers prefer brands that engage in ethical business practices. 54% of Gen Z consumers said they would drop a brand if they were unethical
2. Gen Z consumers prefer brands that are accountable, emphasize social responsibility, and are sustainable.
3. Gen Z consumers would also drop a brand if they are dishonest or misleading in their advertisements.
What this means for brands and marketers:
Through these insights, it’s clear to see that Gen Z is a generation that responds to transparency, connection through experiences, social responsibility and peer influence. Since Gen Z is increasingly skeptical of sponsored marketing and advertising efforts, now more than ever, it’s important for brands to be authentic, transparent, and hold themselves accountable for their actions in order to gain the trust of this generation. In order to further gain their trust, it’s important for brands to be clear about their values and the practices they’re implementing to adhere to them. This generation wants proof of social responsibility, not just empty mission statements. Beyond gaining their trust, it’s important for brands to make way for and highlight the voices they do rely on: their peers’. Gen Z wants to be able to see real-life applications and reviews of products or services, instead of being potentially misled by content that is tied to an agenda. Additionally, this highlights the fact that Gen Z is aware of the power their voice holds over brands. They don’t just want to be influenced by peers, they want to influence their peers as well through their own experiences.