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New Gen Z Consumer Shopping Habits, Product Discovery, Spend Behavior and Brand Loyalty Survey Released by Snipp Interactive
VANCOUVER, BC / ACCESSWIRE / May 10, 2023 / Snipp Interactive Inc. ("Snipp" or the "Company") (T...
About this update from Snipp Interactive Inc.
[{"type":"text","content":"New Gen Z Consumer Shopping Habits, Product Discovery, Spend Behavior and Brand Loyalty Survey Released by Snipp InteractiveVANCOUVER, BC / ACCESSWIRE / May 10, 2023 / Snipp Interactive Inc. (\"Snipp\" or the \"Company\") (TSX-V:SPN)(OTCPK:SNIPF), a Platform-as-a-Service (PaaS) company in the global loyalty and promotions sector, is pleased to release its latest US consumer survey and insights, \"Inside the Gen Z Mind\". Snipp conducted this survey to better understand American Gen Z (age 16-25) consumers' behaviors including high levels of social media and digital engagement. The survey reveals some surprising insights about their brand loyalty, store shopping preferences, and take-charge approach to product research and discovery.Representing 40% of the U.S population, Generation Z will be 30% of the global workforce by 20301with an estimated buying power of $360 billion in disposable income2. The survey was designed to help marketers understand what drives this fascinating but fickle generation, how they fill their time, consume media, spend their dollars, and what beyond TikTok makes them tick.Some of the key insights from Snipp's report include:How they prefer to find out about news and world events - as well as product discovery (and how it varies between females and males)How they conduct pre-purchase research and the impact of influencers on decision-making by categoryPreferred forms of payment, in-store and online shopping by category, and shopping frequencyOffer and deal type preferencesOut-of-stock purchase behaviors and top brands for Gen Z loyalty\"Today's tweens, teens and young adults are tomorrow's high-value consumers - they are more informed, self-sufficient and driven by exacting demands and preferences like no other generation\", said Tom Treanor, CMO of Snipp Interactive. \"Our latest research shows that this generation requires nimble and creative marketing strategies from CPG brands and retailers to stay ahead of their evolving definition of value as they rapidly move from childhood to adulthood, gaining wealth, influence and purchasing power along the way\".The survey results reveal new insights into the Gen Z psyche that will impact how brands, agencies and retailers will approach marketing to remain relevant to this continually maturing economic and demographic force.The full \"Inside the Gen Z Mind\" r...