Baby boomers rebelled against the status quo with the counter-culture and flower power in the 1960s. Their grandkids, Gen Zers are poised to change the world again in telling and profound ways because they are just different. However, they are not making bold social statements. They are choosing to buy practically and vote with their wallets. You’ll learn what that means in this article.
What Does Gen Z Like To Buy?
You could say that Gen Zers are selective buyers. Sure, they will splurge on some items, but they are surprisingly frugal on others. Gen Z may be a smaller generational cohort than their Gen X and even Boomer parents, but they are already making their mark on the world. The youngest may still be in high school, but they wield enormous and handsome spending power at USD 450 billion in just the United States.
For one thing, Gen Z is very health conscious, even more so than their Millennial predecessors. They don’t care about sticking to certain brands. Gen Zers are more interested in getting great value for their money. That’s why they are keen to shop around different stores for several hours.
They care about the environment. So, they spend as much as 10% more on sustainable products. It’s also why thrifting has taken off as they have come of age. They value the entire experience, like their older Millennial brothers and sisters. That’s why they prefer to purchase personalized products.
Interestingly enough, they flock to products and brands that reflect their political views. They are wary of credit. Only 19% of them will readily use credit cards, compared with 30% of Millennials. Gen Zers are young and more cash-strapped than any other American generation, so they spend much less.
What Influences Their Shopping Compulsions
Gen Z grew up surrounded by various digital technologies and social media platforms. So, not surprisingly, they are heavily influenced by social influencers. Their go-to influencer platforms are Instagram and YouTube. They have their preferred celebrities who aren’t Reese Whitherspoon, Catherine Heigel, or other Hollywood celebrities.
Gen Zers are more likely to buy a product or service if their personalities gel with the social influencer’s personality who is promoting it.
Gen Z is also very inclined to buy products and services promoted on social platforms since they trust these much more than what’s broadcast on the news or printed in various offline and online publications. Three of every five Gen Zers rely on Instagram to educate themselves on brands. Almost half of them have bought a brand directly from a social media platform.
Gen Zers also buy their brands through social commerce. The social commerce market reached USD 36.09 billion in 2021.
How Gen Z Pays
They grew up with digital devices everywhere. So, it shouldn’t be surprising to learn that most pay with mobile phone apps. They especially love to pay using mobile wallets like GPay and Apple Pay.
Gen Z is Just Plain Different
Each generation is different. That has been true since the dawn of civilization. But, Gen Z is truly different because of their spending and buying habits. This cohort is the first in history that is truly digitally and practically driven and motivated.
