When trying to understand a teenager, look at his/her social media usage. A recent report by the International Council of Shopping Centers (ICSC) found that 85% of Gen Z respondents indicated that social media influences their purchasing decisions. This is a significant finding for businesses targeting this group.
This means that brands betting on social media to reach Gen Z are going in the right direction. Not only does social media influence the buying choices of 85% of men and 86% of women from this generation, but the study also shows that TikTok and Instagram are the most influential platforms, followed by YouTube, Facebook, Snapchat, Twitter and even Reddit.
A significant portion of Gen Z respondents store primarily at discount or off-price stores and specialty stores. In addition, the financial situation of Gen Z is a concern. The study shows that a large proportion of older Gen Z consumers are concerned about the economy.
The report also offers insight into the elements of the shopping experience that are most important to Gen Z shoppers. The seamless handling of the purchase, fast shipping and immediate in-store availability are key here.
The data from this study suggest that social media will continue to play a prominent role in marketing strategies aimed at Gen Z. However, family and friends have the most significant influence on their purchasing decisions, according to more than half of the respondents, followed by product reviews and third-party reviews on websites and forums.
The influence of social media on Gen Z's buying decisions should not be underestimated. Companies should use this information to their advantage and adjust their marketing strategies accordingly to reach this influential consumer group.
source: ICSC