A recent study indicated that the behaviors, attitudes, and shopping preferences among Gen Z and Millennials are not very different from what is often portrayed in the media.
In fact, both groups display very similar consumption patterns and preferences.
Both generations have shown a marked preference for short, easily digestible video content such as Instagram Reels and TikTok. Daily video consumption was found to be consistent between the two generations, with 46% of respondents watching these platforms every day, and 66% interacting with them daily or every few days. There really is a massive opportunity for product discovery for new or small businesses with 21% of millennials and 14% of Gen Z audiences saying they often buy from brands they’ve never heard of because of a social media recommendation. This indicates that millennials rely more on social media as a source of shopping recommendations.
The study shows that both Gen Z and Millennials place a heavy emphasis on wellness and upgrading their lifestyle habits, with social perception and image playing an important role in their lives. Specifically, fashion, makeup, dining, cooking, and fitness emerged as the top categories in which both groups use their IG reels and TikTok as their primary source of information.
When it comes to the length of digital content, different types of media come with varying levels of attention span. The data showed that entertainment/streams and live sports broadcasts have the highest tolerance for the longest viewing, while ads and reviews have the shortest amount of time.
The research highlighted a preference for utility over brand, a trend more pronounced in the millennial group. 75% of millennials and 60% of Gen Z respondents agreed with the statement, “I have no problem switching brands if I think it would be a better option for me.” More than 50% of both groups also indicated that they are happy to buy counterfeit versions of brands rather than pay full price for the real brand.
Moreover, ethical considerations play a pivotal role in brand engagement. A higher percentage of Millennials, compared to Generation Z, reported that they would stop buying from a brand if they found it unethical.
Adelynne Chao, founder of Untold Insights, commented on the findings: “Our research has highlighted the importance of understanding the subtle behaviors of these influential generations. While there are differences, the similarities are striking and have significant implications for a business. These findings underscore the need to Marketers focus on authenticity, convenience, and socially conscious brands, as these factors greatly influence the consumer behaviors of Generation Z and Millennials.”
The report concludes that while there may be subtle differences in the consumer habits of Gen Z and Millennials, these two generations display many overlapping traits and interests. It encourages companies to recognize these similarities to create marketing strategies that resonate with both generations, leading to further success and growth in today’s ever-evolving market.
