Gen Z, Millennials, Gen X, and Baby Boomers: you certainly know or have heard of these terms that separate generations and define their main consumer habits.
HubSpot Blog Research conducted a study on Consumer Trendsacross these generations, surveying over a thousand people throughout the United States. The research aimed to highlight trends, behaviors, preferences, and shifts in consumer habits across all these generations between May 2022 and May 2023.
There is nothing better than deeply understanding your target audience's consumer preferences to shape your marketing and sales strategies, right?
That is why, in this article, we will share the key insights from the research.
Read on!
First things first...
Let's understand the ages of each generation:
- Generation Z represents people between 18 and 24 years old;
- Millennials are those between 25 and 34 years old;
- Generation X ranges from 35 to 54 years old;
- Baby Boomers are those over 55.
Mobile device usage in consumer habits
It goes without saying, but do you have the same habits you had when you were younger? You don't even have to look that far back: a year ago, did you consume the exact same things the same way you do now?
Just as our behavior varies according to the conditions we are exposed to daily, our habits and needs do too.
Want an example? You are certainly reading this content on your cell phone or some mobile device.
This brings us to the first survey data:
- 56% of respondents use cell phones more than any other device to conduct research or any other type of online interaction;
- In 2021, people spent a third of their waking time on their cell phones — a 30% increase compared to 2019. Reasons? Several! But primarily: the pandemic scenario — where many interacted strictly through digital means — greatly contributed to this.
And when we think about technology or screen time, Generation Z — or Gen Z, as it is widely known — immediately comes to mind, but that's where we're mistaken.
- Millennials are the most likely to use their phones for search and discovery, more than any other generation: 74% of those analyzed.
- However, Generation Z still buys much more online than their predecessors.
This may mean that: Millennials know the product and see its main advantages online, but still tend to buy it (products) or experience it (services) in person.
Social Commerce: the main consumer habit in online shopping
Shopping made through social media is becoming increasingly popular among consumers.
- According to the survey, more than half of Gen Z is influenced by social networks when making purchases online;
- Another very important fact is that this generation uses TikTok much more than Google for searches.
Undeniably, there are a few reasons for this habit:
- The TikTok experience is much more personalized than any other. Browsing the app is easy and, shall we say, the platform understands the consumption pattern of whoever is behind the screen very well;
- This builds trust and makes the consumer believe what is presented or offered to them there;
- Accordingly, Instagram has also been adapting. Its algorithm aims to increasingly resemble the famous rival network, although it is undeniably much more focused on ad distribution and paid media than its competitor;
- By keeping your Instagram shop updated, your consumer can easily browse your product catalog without even leaving the platform.
However, it is necessary to create functional workflows that integrate your e-commerce both inside and outside of social networks. We will talk more about this by the end of this content!
How communities are changing consumer habits
Recently, Meta has been improving this feature on its platforms like Instagram and WhatsApp, aiming to be yet another channel for content distribution.
However, let's say that what is shared in these channels requires greater exclusivity than what is posted out in the open.
Furthermore, building communities is a very effective strategy for retaining and loyalty-building customers. This makes acquisition strategies less frequent, reducing expenses.
- According to the study, 19% of social media users joined an online community.
How small businesses are benefiting from new consumer habits
If many small businesses were hit hard during the pandemic, the current trend is quite different.
The observable trend is that consumers are looking to support local businesses and small producers to counter the mass production of major consumer giants.
- In 2023 so far, 42% of surveyed consumers chose to buy from smaller companies, compared to 8% in 2022 — a 34% increase!
In other words, small businesses are on the rise, that's a fact. The secret lies in how to be found!
Conscious consumption is among the new habits
In short, it is much easier to "keep track" of production by small businesses than by larger corporations.
This factor has been weighing in at the time of consumption:
- Conscious consumption is a frequent topic, especially among younger generations — like Gen Z and Millennials — who consume the most online products, as mentioned earlier;
- This is a great opportunity to promote your work more frequently, especially on social networks, with the aim of bringing the customer closer to what they are buying;
- To this end, factors such as political stance, sustainability, racial justice, initiatives to minimize environmental impacts, and LGBTQIA+ rights have been shown to be decisive factors in the choices of a significant portion of customers.
Practical tips to boost consumer habits based on these trends
Website
Is yours mobile-friendly and does it adapt well to mobile devices? Is the experience preserved and still complete? If the answer is no, you need to check this out!
Social selling
Is your catalog updated on social media? Is the shopping experience during the social media x website flow uninterrupted? Pay attention to this! Most of the time, people do not want to leave the platform to get information. Therefore, make the process as easy as possible; this way, the customer is very likely to click the buy button with their decision already made;
Reflect your values
Commerce is much more favorable to small businesses. Therefore, be genuine: show how your products are made, invest in personalized content, highlight your values, and make the customer understand your mission. This includes personalized delivery messages, email marketing, product use proof and customer feedback, etc.
Seek proper consulting
Well-planned marketing strategies are not just for large companies. If you are looking to increase your sales, investing in SEO and digital presence may be the best way to achieve this goal. Having a good product or a great-looking store in a good location is useless if you are not being found in the main search medium. The same applies if the business is entirely digital but cannot be found. Invest in your digital presence the same way you invest in the quality of your products and services;
Build communities
Create yours and figure out how your audience might want to be part of it. Is it by producing exclusive educational content? First-hand offers? Market news? Just being heard or feeling part of the process? Invest in this channel and remember one of the core principles of marketing: it is cheaper to retain customers than to acquire new ones. Build a solid foundation before setting your sights on new horizons!
Liked it? Then stay tuned for the upcoming posts on our blog!
