In an industry with a steady stream of product launches and brands boasting a dynamic social media presence, gaining the loyalty of Gen Z and millennial consumers is a tricky task.
A survey conducted by Composed surveyed 500 Gen Z and millennial consumers about loyalist tendencies and brand discovery. Survey findings were compiled into a report titled "Unlocking Brand Loyalty and Preferences Among Gen Z & Millennial Consumers."
The survey found:
- Seventy-five percent of the survey respondents self-identify as brand loyal.
- Nine out of 10 respondents purchase the same beauty and grooming products 50% of the time or more.
- Three in four women consistently shop the same beauty and skin care brands at least 70% of the time (77% Gen Z and 69% millennials).
- Gen Z women are the most brand loyal.
- Fifty-six percent of respondents say a product's price is the leading factor that drives and initial purchase.
- Ninety percent say they will pay more for products they feel work better and are of better quality.
- Eighty percent said they prefer to shop brands that give back.
- Eighty-six percent of Gen Z consumers and 84% of millennial consumers say sustainability influences their purchase decision, even if it isn't their primary motivator to buy.
- Sixty percent of Gen Z and millennial consumers say they value a product's origin story and take into consideration how a product is made/sourced.
- Seventy-five percent of Gen Z and millennial consumers say they favor brands that offset their environmental impact.
- Sixty-five percent of Gen Z consumers and 70% of millennial consumers think the products they buy have too much packaging.
- Seventy-one percent of Gen Z and millennial consumers want to see real people in brands' marketing.
- Twenty percent of Gen Z and millennial consumers will immediately lose interest if they don't like a brand's Instagram.
- Out-of-home and in-store marketing influences more than 35% of millennial and Gen Z consumers.
For the full report, please visit www.composedcreative.com.