Kimola Newsletter 15#: Join(t) Gen Z on Sobering Trend!

Here are the recent consumer research reports that are curated by Kimola, prepared for communication and research professionals.

Gen Z's alcohol consumption decreased.

Studies have indicated a decline in alcohol consumption among younger generations, particularly Generation Z and those aged 18-24. According to a report from Berenberg Research, Gen Z drinks 20% less alcohol per capita than Millennials, who in turn drink less than both Gen X and Baby Boomers. A separate report from the University of New South Wales confirms this trend globally. The reasons for declining alcohol consumption among younger people include a lack of appeal, religious beliefs, a desire for a healthier lifestyle, and the lower cost of alternative options like marijuana.

Consumers demand better value!

The Mirakl's Consumer Preferences in the Digital-First Economy report shows that consumers globally are prioritizing value over brand loyalty. 43% of respondents globally have stopped shopping with a retailer due to rising prices, while only 17% continue to shop with the brands they trust regardless of price. In the US, 86% of consumers said that inflation has made them look for better value, resulting in 71% of them expecting to move more of their spending online in the next 12 months. The survey highlights the need for consumer-facing businesses to focus on providing more products at competitive price points to maintain customer loyalty. Additionally, e-commerce channels are seen as more reliable in terms of product availability, with 51% of global respondents likely to do the majority of their shopping online in 2023.

There is a period of decline in media consumption.

The Media Consumption research conducted by Attest with 1,000 consumers in the USA offers findings on how people's habits on television, audio, news and social media are changing. According to the remarkable outputs of the report, all kinds of subscription services suffered in Q.4, perhaps as a result of the cost of living crisis. With an increase of 2.8% since October 2022, 15% of the participants say that they do not use any subscription service at the moment. Again, daily usage of some of the biggest social media sites fell in Q4. The biggest loss is experienced in Instagram, which decreased by 8.7% to 33.7%. Also, Q4 is a period in which the listening frequency drops in all environments. The number of Americans who listen to the radio every day has decreased by 3 points. Finally, the popularity of accessing content digitally is also on the decline. The number of visitors to news sites or applications every week decreased by 1.9 points to 57.8%.

Restaurant loyalty programs do not attract consumers.

According to the research conducted by William Blair with the participation of an average of 900 people, more than half of the customers (55%) do not use restaurant loyalty programs, and only 35% say that loyalty programs play a role in deciding which restaurants to visit. In addition, the research reveals that there is a demographic gap. Accordingly, 61% of consumers over the age of 60 are not interested in restaurant loyalty programs, compared to 50% of consumers under the age of 60. On the other hand, among customers who give up restaurants completely or rarely eat out, the cost of meals is a major concern. 67% of respondents say grocery stores are still cheaper than restaurants. This shows that rising prices are getting ahead of restaurant loyalty programs.

Listening to music is good for us.

According to a study conducted by Ipsos with 18,169 university students from the USA and Canada, 4 out of 10 students describe their mental health as good or very good, while the rest describe it as neutral. While most students (71%) say they can find professional help if they need it, nearly half (53%) believe they can find professionals who understand their personal history. When the students were asked how they supported their mental health; listening to music is the most popular way to support their mental health. 81% say they listened to music to support their mental health all the time or often in the past month. In addition,  more than half of students socialized or talked to friends or family (64%) or watched TV or movies (59%).