The holidays are here and the Social Media Report 2020: Gen Z Holiday Gift Guide is hot off the presses! What is this extremely engaged audience segment setting its sights on this gift giving season – and how can you get your brand in front of them to boost sales as we round out 2020? We have a preview below!
Gen Z Becoming Purchasing Powerhouse
The generation that has grown up with online access is, predictably, tech savvy. They move fast, spend lots of time online consuming data and are fairly discerning when it comes to purchase decisions. More so than one would expect from a “younger generation” that is stereotypically not good with money.
This is not true here. Gen Z knows what it wants and has an extremely sophisticated “authenticity detector.” They seek personalization, and realize it happens at scale, so they come to brands a bit jaded. Understanding who and how they are online is super important, as this group is hard to box in. But it’s a “must do” that every brand has to master this holiday season, as every season that follows.
40-93% Purchasing Power
As we note in the report, this group will command forty percent of all consumer shopping in 2021 – so their purchasing power is not to be denied. And beyond that, 93% of parents (those Gen X and Millennial folks you’ve been targeting) say that their Gen Z offspring influence household spending.
Market research that focuses on specific sub-segments will be key to capturing and keeping this group’s attention. And only then will that translate to sales. So, taking an overarching look at what this group would like, as a whole, has been an interesting exploration. Let’s dig into the methodology to show how that looks!
Methodology to Create Top Ten
As we always do, NetBase Quid took a data-driven approach to uncover audience insight. Here, we used an audience analysis to identify the products that would make it to our top 10 Gen Z wish list for the 2020 holiday season. Which item snagged top billing? With the pandemic top of mind for everyone and technology our main way to stay connected, it’s probably no surprise to see tech and gaming dominating our list. But, it will be surprising to see which one ranked supreme, so we’ll keep that under wraps for those who download the report! We can reveal that the overarching social mood on display is “desire,” indicating a strong push toward purchases:
But back to our process. We use “audience fingerprinting” to capture this psychographic insight about specific segments. Taking a large categorical topic, with keywords around “Christmas” and “Christmas List” and “holiday list” to capture the conversation around what people wanted on their holiday list, we overlaid it with thousands of profiles of people we know fit into the Gen Z demographic – a list that is carefully curated by social analytics experts.
This allows us to look at a topic that’s dialed in precisely from the viewpoint of profiles that are in the Gen Z demographic. From there, we identify the brands and products that were being discussed most often to make it to our top 10 list. And from that, we isolate the conversation further with a theme tailored to reveal Holiday Shopping needs and wants.
Giving Gen Z What They Want
Our timeframe for this analysis was September 1st 2020 to November 24th, 2020 to identify the most relevant, real-time trends hot on Gen Z minds, and to reveal which products were at the top of everyone’s list this year. And while technology is certainly a top trend, sustainability is something this group is very mindful of as well. This is really important for brands to understand as they design offers – and even packaging for their technology:
And their emotions reveal they’re not only planning to receive gifts, but to buy them – oftentimes for themselves!
These kids aren’t just “kids” remember – with many of them in their late teens and early twenties and they have money to burn. And since that whole “experiences” thing has gone out the window this year, they’ve adapted and turned their sights toward the latest technology to stay connected with socially distanced peers.
And then there’s the actual top ten list to consider – which you’ll find in the report! To learn more, be sure to download the Social Media Report 2020: Gen Z Holiday Gift Guide and reach out for a demo, sharing the many ways your brand can capture this active demographic’s attention online this season!