Gaming smartphones sneakers what do
teens spend their hard-earned cash on
with some report stating that as soon as
2020 generation Z will account for 40%
of all consumers and spending over forty
billion dollars markets need to get
savvy to their purchasing behavior
luckily for them
this generation has left itself a huge
cyber footprint for marketers to tap
into and draw a plan so just who is this
Generation Z and what are the things
they most desire when it comes to
shopping that's what we'll find out in
this episode of the infographic show
what is Gen Z spend their money on
depending on who you speak to generation
Z consists of those born between 1990
and 2009 and this makes them the largest
generational group in the US this
generation has grown up totally online
being the first generation to have left
the cyber gatekeepers with a complete
record of their social interaction and
buying habits research by consulting
firm millennial branding showed that
they are more entrepreneurial than the
millennial generation with 72% school
students wanting to start a business and
over 60% preferring to start their own
company rather than climb the corporate
ladder this group is as mentioned
totally digitally connected with the
average Gen Z er multitasking across
five screens per day and spending 41
percent of their time outside of school
hooked up to some kind of device 74% of
Gen Z members spent over five hours a
day online and marketers who want to
catch their attention obviously need to
do so online 46% consumers research
items on mobile devices before making
in-store purchases they prefer to work
alone and are concerned about the
economy crime politics and the cost of
goods according to an article by media
post Generation Z has a spending power
of 44 billion dollars and with this they
want to own stuff they want to buy a
home and a car rather than rent an
apartment and take uber z' here and
there in a jens ii study by magazine
auto trader and kelly blue book 92% of
this generation plan to own a vehicle
and in doing so 72% of them are willing
to give up social media and 63% would
give up new clothes to own a new car the
handing over of the cellphone was more
of an issue with only 33% willing to
give
their cellphone to have ownership of a
vehicle a study from retail dive shows
80% of Gen Z purchases are driven by
social media and 50% of this generation
cannot live without YouTube and shows
like ours so more facts about Generation
Z include their pensions for home-cooked
foods over processed ready meals they'd
rather spend their hard-earned cash on a
traditional stove than a microwave they
spend lots of money on food their
favorite place to eat is Starbucks
according to Piper Jaffray survey and
other surveys of the teens their
favorite clothes brand is Nike followed
by forever21 action sports American
Eagle and Polo Ralph Lauren
despite their favorite clothing brands
being sports brands Generation Z are
actually less active preferring online
gaming to the real thing the gens II
buyers are a group of an estimated 2.6
billion who also influenced 93% of their
parents household spending the National
Retail Federation and IBM's Institute
for business value surveyed 15,000
consumers
between the ages of 13 to 21 from 16
countries and they found that these
buyers still like to shop in-store they
prefer their brands to be transparent
and authentic and to offer the buyer the
chance to engage in product development
43% of Gen Z shoppers are happy to leave
a customer review 47 percent of shoppers
said they use their smartphone while
shopping in store this data suggests
that stores would benefit from
incorporating technologies such as magic
mirror that displays a virtual picture
of the buyer wearing items of clothes
generally Gen Z likes to collaborate
with brands and they want to be part of
the product development process rather
than just the guy at the cash register
handing over a credit card so how do we
break down gen Z spending in a nutshell
according to 2015 figures most teens
spend 23% of their money on food
accessories account for 10% and video
games 8% electronics another 8% and
shoes make up 7% the rest is spent on
music movies and events the winner and
all this appears to be Starbucks who are
the preferred brand and the largest
spending bracket so remember that the
next time you sip on a Java chip
Frappuccino so what do you think are you
generation Z where's your money being
spent do you want to save up for a home
or a car
or are you looking to spend freely on
the more immediate enjoyable things in
life let us know in the comments also be
sure to watch our other video called
Millennials vs. Gen Y how do they
compare thanks for watching and as
always don't forget to Like share and
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