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Young people of Generation Z prefer to purchase goods, but what are their preferred buying habits?

Examining the spending habits of Generation Z and strategies to leverage those trends for successful marketing.

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2 min read
Young adults from Generation Z prefer to invest their money, yet the question remains: What are...
Young adults from Generation Z prefer to invest their money, yet the question remains: What are their spending habits?

Young people of Generation Z prefer to purchase goods, but what are their preferred buying habits?

In the ever-evolving world of consumer behaviour, Gen Z stands out as a unique demographic with distinct preferences. Unlike their predecessors, Gen Z is not primarily concerned with brand names but seeks unique products of good quality.

These digital natives are often found on social media platforms like TikTok, Instagram, and YouTube Shorts, where they spend significant time. They are drawn to micro-influencers - individuals with smaller, engaged followings who focus on authenticity and relatable everyday content. These influencers often specialise in niche topics such as sustainability, fitness, or vegan recipes.

Studies show that only 19% of Gen Z will admire something based on a high number of social media followers. Instead, they prefer content that's real and relatable, not perfect and idealistic. This preference is reflected in the types of ads they find representational, with only 15% feeling truly represented.

However, Gen Z's relationship with social media is not merely a passive one. In 2020, 72% of Gen Z said they'd more likely buy from a brand if they're following them on social media. This suggests that while Gen Z uses social media for inspiration and research, they are open to making purchases based on their findings.

Gen Z's top monthly expenditures include clothing/shoes, eating out, groceries, and personal care products. Interestingly, despite the prevalence of online shopping, Gen Z prefers in-person shopping over digital platforms.

Despite their preference for authenticity, Gen Z is not immune to the allure of paid online ads. Over 50% of Gen Z have purchased a product or service they saw in a paid social ad. This demonstrates the power of strategic marketing and the importance of authenticity in that strategy.

Gen Z's influence extends beyond their own wallets. As a household, they bring in close to $600 billion annually, significantly impacting household spending decisions. They spend their money in various ways, including pop-up boutique shops, online shopping, authentic influencer products, paid online ads, and credible family and friend recommendations.

In conclusion, understanding Gen Z consumers requires a focus on authenticity and quality. By leveraging micro-influencers and creating relatable content, brands can tap into this powerful demographic and reap the rewards of their substantial spending power.

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