New research from Snapchat and Cassandra has Found that the ‘Snapchat Generation’ has more than $4.4 Trillion in spending power.
27,006 Snapchat users were polled globally, including 1,500 in Australia. Results found that this generation is looking for brands with purpose and values. They’re also looking for technology and a bit of fun when it comes to brand engagement.
The findings revealed:
Almost half (fourty-one percent) of Snapchatters would go out of their way to shop at a store that aligns with their values, even if shopping there was an inconvenience. These value-driven brand loyalties impact both what they buy, and what they don’t. Half (fifty per cent) of the Snapchat Generation say they’re less likely to buy from a brand that chooses to promote the opposite side of social issues that matter to them.
Four in ten (fourty-four per cent) of Aussie Snapchatters said they like to learn the backstory of brands and products that they buy. Admitting that they identify with being “entrepreneurs”, this generation is more likely to buy into brands when they can connect with its founder or brand backstory.
Technology was the preferred way to engage with brands, particularly as the in-store experience continues to be impacted. Almost half (fourty-seven per cent) of Australian Snapchatters thought Augmented Reality makes digital experiences more immersive and closer to real-life experiences. Snapchatters in APAC were three-times more likely to use an AR try-on product now than non-Snapchatters, compared to a year ago.
Happiness was a rising priority as two-thirds (seventy-one per cent) of Aussie Snapchatters wished there was more happy content online. In particular, Snapchatters were using gaming as a way to spend time with friends and family.
Commenting on the research, Snap’s General Manager for Australia, New Zealand, South-East Asia and Hong Kong, Kathryn Carter, said:
“The Snapchat Generation is helping lead the digital transformation of the Australian economy. The data shows that brand loyalty is driven by both the rational and emotional, with Snapchatters buying into brands who share their worldview and values.”
“Brands need to embrace this value-driven approach to marketing, while also delivering digital experiences that offer both education, entertainment and distraction.”
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