Depop x Bain & Co. 2021 Report Reveals Gen Z Consumer Habits
According to a brand new report on Gen Z consumers by UK-headquartered resale giant Depop and US consultancy Bain & Company, 45% of Depop’s Gen Z consumer base only buy second-hand. Meanwhile, young people’s purchasing decisions are more affected by TV than by influencers – although social media as a whole still holds sway. We distil the key brand takeaways.
Re-Commerce Booms: Overall, 90% of Depop users have adopted eco-ethical lifestyle habits such as consuming more environmentally friendly food (55%) and minimising plastic waste (35%). Most notably, 45% of Depop users said they only bought second-hand clothes – validating the efforts of brands to align themselves with re-commerce. Seventy per cent of users said that they had reduced their fashion consumption while 60% said they repaired their clothes.
For more, see Rebooting Re-Commerce.
Social Media Tops Purchase Inspiration Chart (but is followed by TV): Social media was listed as the primary source of inspiration for those shopping on Depop, with 80% of consumers listing it as an influence on their consumption habits. While all other forms of media trailed behind, TV (30%) was intriguingly listed as a bigger influence than influencers and celebrities (20%). Magazines were an influence for 20% of consumers, Google search ads only influenced 10% of consumers and fewer than 5% said that billboard and radio advertising affected their purchasing decisions.
For more, see The Business of TV: New Engagement Tactics.
Environmental & Social Commitments Remain Paramount: Gen Z’s well-documented climate and social justice concerns are reinforced by Depop’s findings that 70% of users ar influenced by fashion brands’ commitments to fair working conditions when considering whether to purchase an item. Additionally, 60% are influenced by diversity and inclusion commitments and 50% by brands’ social activism. Regarding eco-ethical concerns, 60% are influenced by emissions-based commitments and just 45% are influenced by eco materials innovation.
For more, see Towards our Sustainable Future.
For more on Gen Z, see our Spotlight series, Dynamic Youth.