Staying in tune with consumer trends is essential for tech and SaaS marketers. GWI’s “Tech Purchase Journey 2024” report provides valuable insights into what influences tech purchases across different generations.
Generational Differences in Tech Buying
The report surveyed 15,796 internet users aged 16-64 across nine markets, dividing them into four generational groups: Gen Z (16-26), Millennials (27-40), Gen X (41-59), and Baby Boomers (60-64). The study reveals distinct preferences and behaviours in how these groups approach tech purchases.
Key Influences on Tech Purchases
Advertising and Social Media
– Gen Z and Millennials: These groups are heavily influenced by ads in video games, influencer content, and mobile app ads. Social media engagement through likes and shares plays a significant role in their purchasing decisions.
– Gen X and Baby Boomers: Traditional media such as TV commercials and print ads resonate more with these generations. They also value in-person interactions with salespeople and product brochures.
Social Media’s Role
Social media impacts all age groups but is especially strong among Gen Z and Millennials. Posts from friends, family, and influencers are highly persuasive.
What Drives Purchases?
– Convenience: Features like Click & Collect delivery, easy returns, and fast online checkouts are crucial for all age groups.
– Reputation and Status: Younger consumers are motivated by the desire to stay updated with the latest tech and enhance their online presence.
– Exclusive Offers: Deals and exclusive content or services appeal to everyone.
Brand Preferences by Generation
– Gen Z: Brands like HONOR and Beats by Dre are favoured for their innovation and cutting-edge technology.
– Millennials: They lean towards brands like Bang & Olufsen and Meta, seeking high-quality, advanced features.
– Gen X and Baby Boomers: Lenovo is a trusted brand, appreciated for its durability and reliability.
The Role of Smartphones
Smartphones remain a top priority across all generations, reflecting the central role of mobile technology in daily life.
Strategic Takeaways for Tech Brands
– Tailored Marketing: Adjust your marketing strategies to match the preferences of each generation. For younger audiences, focus on social media and online content. For older generations, consider traditional media and in-person demonstrations.
– Emphasise Quality and Innovation: Highlight the advanced features and quality of your products. Use real-world examples to demonstrate durability and reliability, especially for older consumers.
– Enhance the Online Shopping Experience: Streamline the online shopping process with features like easy returns, multiple payment options, and Click & Collect services to boost consumer trust and sales.
Call to Action
For businesses looking to stay competitive in the tech landscape, understanding and catering to the unique preferences of each generation is key.
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