GEN Z CONSUMERS SPEND MONEY DIFFERENTLY

#GenZstudy   |   @WhatTheGen

 

 

Gen Z Is Earning Money Earlier Than You Might Expect

  • 70% of Gen Z currently earn their own spending money

  • This is about the same as Millennials, who are 10 years older on average!

 

Gen Z Consumers Spend Money Differently

  • 65% of Gen Z guys prefer to spend more on products, compared to 53% of Gen Z girls

  • 48% of Gen Z say they will often or always get input from friends and family before making a purchase

  • 44% of Millennials say they often or always get input from friends and family before making a purchase

 

Gen Z Shopper Influences

  • 30% of Gen Z prefer to get information on a brand from a real customer of that brand, compared to 39% of Millennials

  • 19% of Gen Z prefer to get information from an online influencer, whereas only 13% of Millennials seek influencers' opinions

  • 30% of Gen Z believe YouTube ads are the most trustworthy type of ad—more than television, print, radio, and social media

 

YouTube Influences Gen Z's Learning

  • 85% of Gen Z watched at least one online video in the past week to learn a new skill!

 

Gen Z Turns to Ratings and Reviews Before Buying

In the past 30 days, Gen Z has used online ratings and reviews to:

  • Buy a product online - 72%

  • Buy an item in person - 78%

  • Pick a movie - 69%

  • Eat at a restaurant - 53%

  • Decide not to purchase an item - 66%

  • While shopping at a retail store - 52%

 

The above insights are from a national study led by The Center for Generational Kinetics in 2017. The national study surveyed 1,004 members of Gen Z ages 14 to 21 and 1,000 Millennials ages 22 to 38.

 

To schedule a media interview with the Gen Z experts at The Center for Generational Kinetics, contact Shannon at 512-259-6877 or Shannon@GenHQ.com

 

For the complete publicly available study findings, visit GenHQ.com/Gen-Z-2017

 

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