Gen Z Generation More Likely To Be Brand Loyal
People aged between 18 and 23 have been found to be more likely to show their loyalty on digital outlets to brands that they like compared to the older generation, according to an article by Luxury Daily, which cited a report from Forrester Research.
Forrester interviewed over 3,000 consumers in this age group to prepare its report, titled “How To Build Your Brand With Generation Z,” which revealed that when coming across a brand they enjoy, 62% of young consumers remain loyal to it. Another 36% of Gen Z members also feel more likely to spend more on products with an image they like, against 23% of all adults. Besides, 25% of young people consider it important to have the best brand available on the market, which is above the 17% registered among all adults.
The Gen Z generation prefers brands that demonstrate frankness in their practices, sell products that are innovative and fascinating and are capable of inspiring confidence. For people in the 18-23 age bracket, the product is synonymous with the brand, Tracy Stokes, report lead and principal analyst at Forrester Research, commented.
The main difference between Gen Z and older generations lies in their early exposure to technology and the fact that they take for granted a world of high-speed wireless Internet, smartphones and tablets. For example, while watching TV, Gen Z members use an average of 1.5 communication devices. About 70% of respondents said that they access social networking channels while being in front of the TV set, 63% surf the Internet, 53% play games and 46% chat with friends.