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Evolution of Gen Z Spending Habits

According to a recent study, Gen-Z (those born between 1997 and 2012) have different spending habits compared to students of previous generations. Here are some key differences which may help with marketing to this audience.

  1. Gen-Z invests in more technology and electronics than previous generations, with reports suggesting that this age group spends on average 4 and half hours a day on their mobile phones.
  2. Gen-Z prioritises experiences over possessions: While previous generations may have been more focused on accumulating possessions, Gen-Z values experiences more, such as travel, concerts, and festivals.
  3. Gen-Z has become more inclined towards social and environmental responsibility; Gen-Z is more likely to support brands that align with these values.
  4. Despite spending more on technology and experiences, Gen-Z is generally more frugal than previous generations. They tend to be more aware of their finances and are more likely to look for deals, with 43% of Gen-Z citing coupons and discounts as important factors whilst making a purchase.
  5. Gen-Z is more likely to shop online than in physical stores. They prefer the convenience and speed of online shopping, as well as the ability to compare prices easily.

Overall, Gen-Z has different spending habits compared to previous generations of students. They prioritise technology and experiences, value social and environmental responsibility, and tend to be more frugal, and prefer online shopping.

At Redbus Media, we reach two-thirds of the UK student population with Eighteen-24, our targeted network of D6s, which are situated in heavy footfall locations of over 100 university campuses. Gen-Z is traditionally a hard-to-reach audience, but D6s are the most recalled form of advertising in student unions, making this platform a smart choice.

If you’d love to talk further, please get in touch.

By Luke Berry

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