As most members of Generation Z or Gen Z are coming of age, Snap Inc, the company behind Snapchat took interest on how the buying habits and behaviors of this new breed of consumers, influence socioeconomic trends. Snap Inc. commissioned the research group Cassandra to look into the Gen Z’s methods of discovery, as well as the brand or product qualities considered by this group as worthy of their loyalty
Gen Z, also known as the Post Millennial generation, are today’s young adults born in 1997-1998 onward, usually up to the early years of 2000. Also known as the Internet Generation, being the first batch of young consumers who went through their formative years at the time when the powers of the Internet started influencing lifestyles.
Gen Zs Have Different Approaches to Discovering New Brands or Products
The fact that Gen Z consumers were raised by Gen X or Millennial parents who largely conducted their day-to-day activities in a digital world, more than a quarter of those surveyed said they discovered new fashion, technology and choices of entertainment through their family and friends. When it comes to food, they prefer to learn more about new products that they actually find at brick-and-mortar stores.
Most of the young consumers who responded to the survey look for other kinds of consumer goods like unique accessories, cosmetics and beauty enhancers through online advertisements.
About 35% of the Gen Z population surveyed indicated that they make decisions to buy or engage in products or brands recommended by brand users, only after they learn more about the company by visiting its website. Aside from feedback coming from family and friends, this new group of consumers give value to legit consumer sites where they can get genuine user-reviews. Only nine percent (9%) base their buying decisions on blog posts created by product influencers.
Gen Zs Take Interest in a Brand or Product that is Making a Buzz in Their Social Circle
Seventy-three percent (73%) of the respondents take interest in finding more about products or brands that are creating a buzz in their social circle. Three of every four who responded to the survey said they become interested in knowing more about a new discovery, if their friends are also talking about it.
Sixty-five percent (65%) consider feedback about unique experience as a motivating factor. Depending on the new technology or brand being talked about, today’s young consumers consider other value factors like entertainment (42%), educational (40%) and advice (39%) as basis for deciding whether to actually attend, engage or buy a product.
Reasons Why Gen Zs Decide to Replace a Particular Product Brand
It is also worth mentioning that this breed of consumers are also looking into corporate practices when researching about brands and products.
Fifty-four percent (54%) say they will not buy or continue to use a brand if they discover that the provider or manufacturer engages in unethical practices.
Thirty-eight percent (38%) will stop patronizing a brand that makes false claims.
It is also interesting to note that 37% of those surveyed, made mention of “negative environmental impact” as another good reason why they would decide not to stay loyal to a brand.