In its latest bit of homegrown research, Snapchat did a deep dive into the Snapchat Generation and the $4.4 trillion in spending they control. The report found that the Snapchat Generation is willing to outspend non-Snapchatters across every category and that Snapchatters are entrepreneurial and open to connecting with brands.
The research also explored the effects that the pandemic has had so far, finding users came away with a stronger connection to their families and put weight behind everyday moments to recharge. Snapchatters are also more open to mobile games, immersive video and augmented reality than other generations. Not surprisingly, the Snapchat Generation over-index for screen time, with most spending more than four hours a day using a screen.
The report started with the secondary research of Trendspotting and a review of existing insights from The Cassandra Report related to Gen Z attitudes and media consumption. Much of the findings came out of an online 20-minute quantitative survey fielded through Oct. 15-Nov. 30, 2020 in the U.S., Mexico, Brazil, UK, France, Germany and other countries.
For the purposes of this article, we’ll focus on the results and implications for the North American market.
Kind, Creative and Driven to Excel
This generation’s self-conceit is that they are driven to excel but also kind and creative. Perhaps owing in part to the circumstances in which they were raised, the Snapchat Generation sees themselves as more book-smart, street-smart and competitive than non-Snapchatters.
But this expectation to grow up quickly has its downsides. Some six in 10 Snapchatters agree that they are expected to act like an adult before they are one. Similarly, 60 percent of Snapchatters report feeling stress on a weekly or daily basis and the top stressor is Covid-19, with 60 percent of respondents citing it.
Despite the stress, though and perhaps owing to their young ages, Snapchatters say they are more hopeful, excited, happy and fulfilled than preceding generations. Despite the challenges wrought by the pandemic, Snapchatters also are optimistic. Seven out of 10 say they are confident they can make it through life on their own.
Communicating Often Hard Truths
Not surprisingly, this generation feels very comfortable with digital technology and that affinity gives them hope for the future. Some 53 percent believe that their generation has the power to change the world through digital communication and 48 percent believe that social movements can begin online. (Those figures are lower for non-Snapchatters.)
On the whole, Snapchatters over-index on the belief that they can make a difference, with 73 percent of Americans surveyed agreeing with that sentiment.
That idealism has some effect on purchase behavior. One half of Snapchatters surveyed said they’re less likely to buy from brands that promote the opposite side of social issues in which they believe. (That’s six points higher than non-Snapchatters.)
Willing to Spend Extra
Again, this is likely a reflection of their young ages, but across the board, Snapchatters are willing to spend more of their money on discretionary items than non-Snapchatters, with new cell phones, specialty drinks and shampoos topping the list of categories that Snapchatters were willing to spend more on.
Snapchatters are similarly open to connecting with brands, with 50 percent saying they would like to know the backstory of brands, versus 41 percent of non-Snapchatters. Additionally, they have no preference for large vs small brands.
While cultivating a penchant for spending extra, some data show that they are willing to work to achieve that spending level. Nine of 10 Snapchatters surveyed said it’s important to be financially independent and two out of three say it’s important to be self-employed.
As might be expected Snapchatters over-index for affinity for brand-name goods. Compared to the general population, Snapchatters are 15 percent more likely to say it’s important to have brand-name items.
Relationships Take Focus
The No. 1 reason Snapchatters use the app is to stay connected with friends. In addition, four out of 10 say that they’ve gotten closer to their families during the pandemic. Interestingly, this generation is 1.5X more likely than others to take down a social media post that no longer reflects their values.
Seeking Fun and Joy
The Snapchat Generation may have a different idea of fun than others do. Eight out of 10 believe that cooking and eating is fun and seven of 10 say grooming and dressing up is fun. Likewise, they have a slightly different view of productivity. Half of Snapchatters say that gaming is a productive activity, for instance, and 49 percent say they have met new friends through playing such games, compared to 26 percent of other generations.
When it comes to pioneering their own forms of entertainment, we might note that Snapchatters are 1.5X more likely than non-Snapchatters to gravitate towards immersive video and AR experiences.
