Each generation of students is unique, which means it’s very important for us here at Student Beans to always be up-to-date on the latest trends and consumer behaviours of our global student network, and to share these insights with our brand partners. Here are five common misconceptions that we often hear about the students of today.
1. They don’t spend money on luxury brands
Our research has found that students’ favourite brands include designer labels like Gucci and Rebecca Minkoff, while high-value tech products such as Macbooks and iPhones are considered good value investments, in addition to their obvious cool factor. They see these items as worth saving up for.
2. They live off the bank of mum and dad
With the cost of student life ever-rising, students need to be resourceful to make sure they can afford the things they want and need. Financial support from family is just one source of income for students. In the US, 35% have jobs, while that number rises to 46% in the UK, according to our 2018 Student Shopping Report.
3. They’re obsessed with social media
As digital natives, today’s students are tech-savvy and constantly connected. However, they’re also aware of the risk of tech addiction. Most prefer to stick to a small number of social media apps and have different uses for each, for example, they use Instagram to follow brands and Snapchat to share content with their BFFs.
4. They aren’t into the brands their parents like
Students are savvy spenders, which means they like to buy from trusted global brands and established names, who they can rely on to offer quality products. According to research by Wunderman in 2016, 82% of teens surveyed said they prefer quality over “cool” products. Some of their favourites include Amazon, Apple and Starbucks.
5. They don’t care about world issues
While 77% of Gen Z believe that political leaders do not have their best interests in mind, they are still passionate about improving society. 84% would like to have a “big impact in their local communities,” tackling issues such as helping the poor and protecting the environment. They also feel strongly about human rights, diversity and gender equality.
Get in touch today to find out how Student Beans can help your brand engage and inspire this valuable group of young consumers.