UMN Consulting Presents Their Research On Gen Z’s Lifestyle and Consumer Habits

Speakers of UMN Consulting: NEXGEN (dok.UMN)

TANGERANG – Multimedia Nusantara University (UMN) Consulting presented their research titled “Gen Z – Lifestyle and Consumption Habits 2021” through a zoom meeting on the 18th of February 2022. The research findings were presented by Elissa Lestari, one of the study’s researchers and also a full-time lecturer in Management at UMN. 

UMN Consulting is an independent research and advisory institution specializing in research regarding the market and other consumer behaviors, particularly regarding the younger generation. The report, “Gen Z – Lifestyle and Consumption Habits 2021”, is UMN Consulting’s first-ever publication. Lestari explained that research regarding Gen Z’s lifestyle and shopping behaviors are important, especially for brands and businesses. 

“In terms of population, Gen Z is now the largest population globally. Based on 2020 data provided by Indonesia’s Central Agency on Statistics, Gen Z comprises 27.94% of Indonesia’s population,” explained Lestari.

As the first digital native and largest population globally, Gen Z plays a crucial part in the e-commerce shopping industry. Especially with the vast rise of online shopping and online businesses. 

“Because they are the first digital native, we must see Gen Z as a unique and different generation. That’s because they may have a different consumer behavior than other generations,” said Lestari. 

Lestari presented the research findings by explaining Gen Z’s self-concept. The research found that Gen Z’s enjoy quality time with themselves and spending time at home. 

Ellisa Lestari (dok.UMN)

“It is not daydreaming alone or doing nothing but spending their time alone virtually with their friends or community. This finding may be affected due to the pandemic, making them spend more time in their homes,” Lestari explained. 

Another important finding is Gen Z’s concern with global warming. The study found that this issue highly bothered them, and they wanted to do something to solve it. Brands that offer eco-friendly services or products may be preferred and gain Gen Z’s interest. It is shown that Gen Z’s are meticulous and researches about the products they want to buy before purchasing. 

“Gen Z’s take effort in figuring out which brands they choose especially through reviews and ratings. The study found that they use social media as the main source of information for product reviews like TikTok and Youtube,” said Lestari, emphasizing the importance of reviews and ratings. 

The study also aims to determine what Gen Z’s spend their money most on and how they manage their funds. It is found that Gen Z’s spend most of their money on snacks, fast food, phone data and charging, skincare, hanging out with friends, and movie or music subscriptions. 

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To manage their funds, investing seems to be the trend lately with Gen Z’s to manage their funds. The research found that while most of the respondents save their money in the bank, more young people invest in stocks, mutual funds, and gold as a source of income in the future. 

In terms of shopping applications, the study found that Shopee is Gen Z’s most preferred e-commerce application with a percentage of 71,46%. To figure out how Shopee was able to gain this much traction from Gen Z’s, this webinar also invited the Head of Marketing Growth at Shopee Indonesia, Monica Vionna, to share her insights on the topic.

Vionna shared that she is touched seeing that Shopee is Gen Z’s favorite app to shop in because of the amount of effort Shopee Indonesia gave to serve the customers.

“Shopee always tries to be as relevant as possible by moving with the trends and finding out what the customers wants and needs. This also helps us to increase the brand’s engagement and have loyal customers,” said Vionna.

Vionna gave Shopee Food as an example. Ever since the pandemic, more people have been buying food online. With Shopee Food, customers can find their favorite restaurants there and receive discounts by using the vouchers provided by the app. Showing that they always stay relevant to the current trend and needs.

In general, brands need to know what the consumers want, need, and where to promote their products and services. By understanding people’s patterns and preferences, brands may attract more consumers and have loyal consumers. This importance is shown by the research findings and Shopee Indonesia’s experience managing their brand. 

UMN Consulting will be conducting more research on diverse topics like property, finance, banking, investing, and many more. They welcome brands, companies, and researchers for future research collaborations. 

If you are interested in UMN Consulting’s research and would like to be updated on their future studies, you can visit UMN Consulting’s official sites:

Instagram: @umn_consulting

Official Website: https://taplink.cc/umn_consulting

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