A new survey looking to shed light on Gen Z and its purchasing preferences is hyping a strategy that “will make 8 in 10 Gen Z more likely to buy from your brand.”
The strategy, just part of the research from SheerID about the 2 billion Gen Z consumers and their $450 billion in spending power, revolves around exclusive offers.
“91% of Gen Z college students reported they research exclusive brand discounts before making a purchase, indicating that brands that invest in this approach will generate revenue growth,” the report says. “In addition, 86% of college students and 69% of Gen Z overall indicated an exclusive offer would increase the likelihood of a purchase.”
(Source: SheerID)
Exclusive offers made 56% of Gen Z (and 73% of Gen Z college students) feel more emotionally connected to brands, with 93% of Gen Z (and 97% of Gen Z college students) saying they’d share the offer with others who qualified. Of the most appealing exclusive offers, 60% said free shipping, 52% said a free gift, 47% said an occasional 20% discount, and 43% said a standing 10% off each purchase, showing that discounts aren’t the only strategy to reach Gen Z.
“There’s a reason why you see so many #giveaways on TikTok — they work,” the report says.
Social media, surprisingly, isn’t the end-all, be-all way to reach Gen Z.
“Email (48%) was the number one choice among respondents when asked how they would like to hear from brands about Gen Z offers,” the press release says. “Text/SMS (46%) was the second most popular form of communication, followed by social media (43%), online ads (24%) and the brand’s website (18%).”
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