This year, the holiday shopping season is about six days shorter than previous ones but still predicted to outspend previous years, with Adobe Analytics predicting online spend to grow to $143.7 billion and Cyber Monday as the biggest shopping day. And though media budgets are set and creative from brands is in the midst of making it out, new Snapchat data points to potential areas where brands can reach Gen Z, which the social app says is 17% more excited about Black Friday and Cyber Monday than the traditional Snapchat user. With $1 trillion in purchasing power, Snapchat’s insight into Gen Z downplays some assumptions about their purchasing behaviors.
“There’s a ton of passion around Cyber Monday and Black Friday, and that creates a lot of opportunities for brands,” said Luke Kallis, vp, U.S. advertiser solutions at Snap. “We want to be a home for Snapchatters, but we want to help brands understand how to reach that generation, be authentic and develop relationships with them.”
While Gen Z is more “excited” about Black Friday and Cyber Monday, Snapchat data says they’re 40% less likely than the average Snapchat user to plan ahead about what they’ll buy. However, the lack of foresight isn’t necessarily a pain point for retailers; Gen Z Snapchat users are 15% more likely to participate, even with less than a day’s notice.
These consumers are also looking to spend $250 or more during these shopping days. Kallis said this presents an opportunity for brands to reach Snapchaters on the app and push out deals, whether it’s through a swipe-up ad or the company’s new dynamic ad offering.
And they aren’t solely shopping on the phone, either. Snapchat found that more than 70% of Gen Z users plan on shopping in-store on Black Friday, with general Snapchat users 1.5 times more likely to research what they’ll buy online.
“Gen Z is the most mobile generation from start to finish,” Kallis said. “What’s exciting about that is you have this opportunity to engage with people from a spontaneous standpoint or drive them in-store.”
“There’s a litany of ways for them to gather the information that they need at this time,” Kallis said. “[Whether it’s] advertising they’re being served [or] they can gather that intel from their friend or advertisers as well.”
Moving on from Gen Z, Snapchat’s data showed that users were 65% more likely to post to their story, 46% send a snap to a brand and 45% mention or tag a brand in a snap. According to Kallis, it’s another point of contact where brands can engage with the customer.
“One of the things we love about the Gen Z audience—they don’t have bred habits or in the [process] of developing them,” Kallis said. “Brands have this opportunity to rate this lifetime value or brand value. There’s so much power in people sharing their brand love with each other rather than sharing it with the world outright.”