Brands have run into a pretty serious problem in recent years. The generational change has been marked by a change that has gone beyond the date of birth. singapore landline number example have entered the marketplace as consumers and as decision makers and companies have, we could say, panicked. Members of Generation Y have completely different interests, concerns, and values than previous generations, and their spending habits are totally different. Brands have to learn a new language and have to adjust to needs and requests that are quite separate from what consumers were looking for until now. For example, for the millennial generation the car and the house are no longer a sign of status.
But now that brands are beginning to understand millennials, companies must face an imminent new generational shift. Generation Z, who follow the millennials, are already on the verge of entering the consumer market and, to the greater despair of the brands, they do not exactly follow the path of their older brothers. The Z have different interests and see life in a completely different way. Where millennials are idealists, Gen Z members are much more pragmatic, for example.
This reality of imminent change has made many brands that have tried to understand what these adolescents are like. What exactly are they interested in and what exactly do they want to consume? A recent study by the analytics firm Piper Jaffray has studied how teenagers are using and created a robot portrait of what interests them.
Teens are foodiesWhat do teens spend their money on? Well, according to the study data, something quite surprising: the highest percentage of their spending goes to buying food (23%). Starbucks is their favorite destination for food spending, which makes it clear what the Z want to be and what they are looking for in the places they eat (and explains why traditional fast food chains are having so much trouble: In addition, on the list of favorite places to eat there are also Chipotle, Olive Garden or Panera, chains that play with the concept of healthy food, you can take an even more complete photo). After lunch, adolescents spend money on clothes (20% of their spending), accessories (10), video games (8), electronics (another 8%) or shoes (7).
In total, and according to the study data (based on figures from the US market), adolescents spend about 75,000 million dollars. The economic downturn, however, has not left them unscathed: teens today have learned something that teens of other times did not always know and have become very budget-conscious.
Teenagers’ favorite brands are sports brandsRetail chains have been facing serious problems in maintaining their market share. De Phone Number do not want to buy their clothes in these establishments (because it clearly does not fit with their spirit of independence) but also does not match their style. Now, the trend is athleisure , or wearing sportswear as everyday wear.
The next generation will not make it much easier for those responsible for these firms: they also prefer sports. In fact, and according to the study, what is known as activewear (that is, sportswear that allows movement) is already much more popular among these buyers than that of the denim segment (that is, all those brands of jeans that marked traditional adolescent consumption).
The favorite brand of teenagers, whatever the economic margin they come from, is Nike. When you zoom in on the adolescent’s favorite brands in a specific way, things do not change. Those with the greatest growth in positive response are Lululemon and Nike. Lululemon is the manufacturer of yoga pants, which have made the leap to become everyday clothing. The fashion trends that have the most penetration among teenagers are those known as athletic-leisure , leggings and jogging pants. The only non-sports trend that is most followed is preppy, which is what consists of dressing in an American private school style (or, and it is the clearest example that has been left by mass television in recent years, like Blair Waldorf, the protagonist of Gossip Girl ).
This favoritism for sports brands is also parallel to a lack of interest in the brands that until now were getting to be the ones that used to top these lists of preferred brands. Aeropostale, Abercrombie & Fitch or Hollister are the ones that top the lists of brands that lose traction.
They buy on AmazonAdolescents are already a sign of the growing power that electronic commerce will have. According to data from Piper Jaffray, they already prefer to buy online rather than in a physical store. Still, these consumers continue to attach importance to the tangible. The Z still prefer those ecommerce brands that also have physical locations.
However, his favorite destination for shopping is an ecommerce space that is only in the field of electronics. For 36% of teenagers, Amazon is the favorite place to shop, far above other ecommerce spaces and also above retail firms with physical spaces. The second place in the list of the 10 main destinations for shopping gets, in fact, 8% (and it is Nike).
Instagram is your favorite social network (and not followed by Facebook)One of the constants when talking about adolescents is to analyze how their consumption habits have changed when it comes to social networks. Facebook has lost weight and is no longer a cool social network: the entrance of the older generations has caused the social network to change and has scared off teenagers .
According to data from Piper Jaffray, Facebook is already only the most important social network for 14% of adolescents, which puts it in third position in the ranking (and what are bad numbers: two years ago, it managed to be chosen by the 33% of adolescents). Facebook is also threatened by Snapchat to maintain its position: the app gets a 13% response and despite the fact that it has just entered the ranking, it is already fourth.What is therefore the favorite network of teenagers? The big winner is Instagram, which is the most important social network for 32% of those surveyed. It is followed by Twitter, with 24%.