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Why Gen Z needs your support this Winter

by UNiDAYS
    Download the report: Gen Z spending habits before and during COVID-19

    The ultimate guide to reaching Gen Z this holiday season

    Get ready for holiday season spending

    Just when you thought students would be keeping their heads down following a long summer and the return to campus,...

    Gen Z represents a wealth of untapped potential, yet so many brands still don’t understand
    what makes students tick. To truly win with this generation, you need to learn what’s driving
    young people to make purchasing decisions.

    Introducing the UNiDAYS Q4 Student Insight Report, containing everything you need on
    your to-do list for student success. Download the report now to find out:

    - Why students are feeling more positive about the winter months
    - Where and when they’re planning to spend big
    - What you can do to win their loyalty right now
    - How to supercharge your brand for students

    And much, much more. Now, let’s focus on what’s going on with Gen Z in Q4

    Students never stop 

    As the summer draws to a close, there’s something pertinent on the minds of Gen Z. It’s time
    to go back to university.

    The pilgrimage back to campus is a unique time of the year. As students return to uni or
    move into halls for the first time, they’ve got long, long shopping lists. From paying for
    accommodation, transport and stocking fridges to fresh fashion and big-ticket tech items for
    studying, it’s going to be expensive.

    But it doesn’t end there. Just on the horizon are huge shopping events like Black Friday and
    the holiday season, meaning students will be bargain-hunting and gift-giving all the way
    through the end of the year.

    The thing is, the vast majority of Gen Z are yet to have formed brand loyalty. So, supporting
    them to achieve their goals and lower their financial burdens are the optimal ways to unlock
    that highly sought-after trust from students.

    How does Gen Z feel about the coming months? 

    Students have told us that they’re feeling happier about the final months of the year than any
    other period. However, Gen Z remains the most anxious, overwhelmed and nervous
    generation, likely due to the intricate balancing act young people are required to perform,
    juggling studies, deadlines, finances and social, family and university commitments.

    According to students, their biggest concerns are:

    - Academic studies
    - Next steps after university
    - The cost of living

    These concerns, though, spark opportunities. Could your brand offer support, tools and
    resources to support students with their academic and post-grad lives? Plus, Gen Z
    consistently tells us the cost of living is their primary consideration—56% are worried about
    it. That means price-based strategies that alleviate some of those concerns are bound to set
    you apart from the competition in the eyes of young people.

    The money problem 

    For Gen Z, the highest outgoings continue to be rent, groceries and household bills. Add to
    that transportation, commuting, clothing, dining out and plenty of other expenses, and
    suddenly balancing a student income becomes rather daunting. So, how do they pay?

    More than any other generation, 58% of Gen Z will rely on their parents for financial support
    over the next few months. Other sources of income include:

    - Dipping into savings (42%)
    - Part-time jobs (39%)
    - Student loan (29%)
    - Side hustles (11%)
    - Full-time jobs (8%)

    The student loan simply isn’t enough to cover Gen Z’s expenses, which means their top
    purchase drivers are:

    - Price
    - Quality
    - Availability of a student discount

    It’s not a surprise that young people value price the most, but their desire to access student
    discounts directly impacts their priorities, meaning those much-needed incentives are set to
    make your brand a Gen Z favourite.

    Win big with Gen Z 

    From the return to campus to Black Friday and the holiday season, one thing’s for
    sure—Gen Z is set to spend a lot of money. It’s time to step up to the plate and deliver them
    much-needed support.

    Young people truly care about brand reputation and comfort. So, once your brand has
    solidified a great deal, product or service, it’s time to make sure the quality, price and fit all
    align with Gen Z.

    Plus, before forming lifetime loyalty with your brand, students are looking for a genuine
    connection. So, help them—give them compelling offers with reasonable prices, lean on
    partner deals and make building your reputation a priority.

    Unlock a verified audience of 29M+ students by partnering with UNiDAYS, coupled with
    actionable insights to propel your brand in front of this generation. Or, download the Q4
    Student Insight Report to find out your ultimate to-do list for Gen Z success.

     

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