There really are SO many wonderful things about the festive season. Mince pies. Decorations. Presents. Everyone in a, sort of, better mood. Presents. Parties. Did we say presents?
There’s a lot to be said about finding joy in the small things during Christmas – and nothing quite contributes to that warm, fuzzy feeling like giving or receiving gifts.
However, for Gen Z, this Christmas is set to look a little different to the opulence of their childhoods. Thanks to the ongoing cost-of-living crisis, many are struggling to make ends meet.
This year, 72% of those aged 16-24 shared that the rising inflation will impact their festive spending.
When it comes to gift giving, they’re looking for the best deals: shopping earlier, spending less and stripping back on luxuries.
Know ur skint when ur Christmas list is signed sealed delivered by November 1st— Rachael Griffiths (@rachaelgriffi) October 25, 2023
According to our data…
- 49% of US and UK Gen Z will be doing their Christmas shopping in November
- 80% of US and UK Gen Zers will consider shopping second hand for gifts
- 52% of US Gen Zers and 29% of UK Gen Zers will be financing festive shopping on credit cards.
As shared by Gen Zer, Beth, in our recent webinar “anything non-essential is a luxury now”.
Gift giving intentions
In the UK, 85% of Gen Z shared that they’d be giving and receiving gifts this festive season. Across the pond in the US, 83% shared they’d be buying gifts for others and 81% said they were expecting gifts to be bought for them.
And what kind of products do Gen Z want to receive this festive season?
When it comes to the kinds of products they want to receive, Gen Z have their sights firmly set on some specific product categories…
- 69% of UK respondents and 65% of US respondents want fashion items
- 65% of UK respondents and 56% of US respondents want beauty and skincare products
- 42% of UK and 48% of US respondents respondents want technology items
- 26% of UK respondents and 40% of US respondents would like gaming products.
Securing Gen Z loyalty this festive season
There’s one word on everyone’s mind, and it rhymes with sch-miscounts…
A huge 89% of Gen Zers in the UK and 90% in the US want to see special offers and discounts during the festive period: so get involved! Make your discounts stackable by offering free delivery alongside student offers, or if you really want to capture Gen Z loyalty, things like free next day delivery don’t go amiss (for those last minute gift-givers!).
I promised myself I wouldn’t be a last minute Christmas shopper this year😭— missmilly🍸 (@__oneinaMILLY) November 3, 2023
You can also incentivize consumers by creating bespoke product pages: for example, a landing page showing all items that are under £20. This puts the best value items right in front of Gen Z, incentivising them and likelier to checkout from your site.
Want to find out more about how you can connect with students, achieve your objectives, and drive sales? Get in touch with our team today to find out more.