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Gen Z is all about thrifting. But they also love buying new things, according to a new report from Pinterest.
The company, citing data from IRI, said Gen Z—which Pinterest defines as those born between 1997 and 2012—bought 80% more new products in the last year than their older counterparts. In the report, Pinterest’s global head of strategy and marketing, Ashish Arya, wrote Gen Z is “far more likely” than other generations to try new products, partly because of their love for “novelty.”
Why? According to Pinterest, it’s one part timing, another part clout.
- Growing up in the internet era has inherently made young people less attached to certain brand names, per the report.
- Beyond that, being one of the first to own something brings a sense of identity to Gen Zers. “They’re constantly craving new experiences to cultivate their own individuality. And for those reasons, they’re more motivated to buy and consume new products, to discover and express who they are and how they want to show up in society,” wrote Pinterest researcher Alvin Li.
Zoom out (get it?): So where is Gen Z getting inspiration for all of these purchases? Mostly friends and (of course) the internet.
- A 2021 Momentive survey of more than 5,000 people found that of its Gen Z respondents, shopping sites, social media, and friends and family were their top sources of inspiration.
A recent eMarketer report said Gen Z tends to source info from a wide variety of places, like “ratings and reviews, social media, online influencers, and in-person experiences,” before buying.—KH