Findings: Gen Z often overspends at events, with 85.8% of respondents exceeding their budgets. The excitement and event atmosphere drive impulse buying, particularly in categories like food, beverages, and apparel. Brand activations and event-specific advertising heavily influence purchasing decisions.
Key Takeaway: Despite being known as price-conscious, Gen Z overspends at events due to the environment, emotional connections, and peer influence. Brands can tap into this behavior by engaging authentically with Gen Z during live events.
Trend: There is a strong link between live events and Gen Z’s discretionary spending, with a significant focus on fashion, entertainment, and sports-related purchases. Brand activations are essential in shaping their purchasing decisions.
Consumer Motivation: The event atmosphere, excitement, FOMO (Fear of Missing Out), and social experiences with friends are major drivers of Gen Z’s impulse purchases. Emotional connections at events lead to increased spending, especially on apparel and accessories.
What is Driving the Trend: Social and cultural experiences, coupled with peer influence and event-specific advertising, drive Gen Z’s spending at events. Brand collaborations and activations are crucial in enhancing their engagement and spending.
Who are the People Referenced: Gen Z attendees at events such as concerts, sports games, fashion shows, and festivals. Examples include individuals like Sash (23), Tyra (25), and Armaan (24), who reported impulsive purchases influenced by the event atmosphere.
Description of Consumers, Product, or Service: Gen Z event-goers are the primary consumers, drawn to experiences and influenced by peer trends. They prioritize purchases like food, beverages, and fashion items at events, often making impulse buys due to the environment.
Conclusions: Events are powerful drivers of discretionary spending among Gen Z, and brands that effectively engage with this audience through authentic, event-specific activations will see strong returns.
Implications for Brands: Brands should focus on authentic brand activations and collaborations at live events to capture Gen Z’s attention and drive sales. Understanding the emotional and social factors that influence this group’s spending is key to success.
Implication for Society: The strong spending behaviors of Gen Z at events reflect a shift toward experience-based consumption. This has implications for industries centered around live entertainment, fashion, and social events.
Big Trend Implied: Experience-driven consumption at events, where emotional connections and social experiences heavily influence spending behaviors.
Implication for Future: As live events continue to grow in importance for Gen Z, brands will need to evolve their marketing strategies to connect with this generation in more authentic and engaging ways during these experiences.
Name of Trend: Event-Driven Impulse Spending
Name of Broad Social Trend: Experience-Based Consumerism
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