Misconceptions About Gen Z Being Challenged
A Nielsen study of consumers aged 15 to 25 is disproving some common misconceptions about Gen Z habits. Some of the stereotypes being challenged are that Gen Z is made up of tech-addicted, frivolous spenders that are only reachable online, and that their time spent online is wasted.The study found that many Gen Z respondents spend 8+ hours per day outdoors and actually have a 73% ad recall of outdoor advertising, i.e., billboards and other signage. They are also reported to have a tendency toward adventure, sports, activities, and event-based trips, according to 66% of responses. Regarding the idea that Gen Zers are frivolous spenders, 76% stated they would postpone a purchase until it goes on sale, and 62% feel that financial independence is their top goal in life.
Everyone spends time online, and Gen Z is no different. But how are they spending their time? Ninety-two percent of Gen Z responses stated that their time online is for either their job or their studies. Their leisure time online is spent accessing news on current affairs (67% of respondents) and 50% of respondents said they research products and services they plan to purchase in the future. Lastly, the study found that 45% of the time is spent accessing their banking, trades, or investment information online.
Vizio Now Makes Twice as Much from Advertising as It Does from Selling TVs
High-tech flat-screen TVs continue to be surprisingly affordable considering their capabilities when compared to the latest smartphones and laptops. Television prices continue to stay low because manufacturers like Vizio are making their money selling user data, and the sale of the hardware is the means to make that happen.
Vizio is becoming an advertising firm, and in their third-quarter earnings report the company profited $57.3 million from the business segment platform that includes their advertising and viewer data. That figure is more than double its $25.6 million in profits from device sales. These changes in profit generators are not unique to Vizio; there are similar shifts taking place for other smart TVs and devices like Roku and Amazon Fire Stick. Roku’s platform brought in $532 million in the second quarter this year, which includes advertising. Smart TVs are expected to be in 90% of North American households by 2024, according to Strategy Analytics, and they represent an ever-growing advertising offering for marketers to utilize.
Twitter Launches Initial Test of Livestream Shopping Broadcasts
Twitter is a little late to offer livestream shopping as an e-commerce option, but nonetheless has now rolled out its initial test this month. Their livestream shopping UI houses the live feed at the top of the screen, and users can toggle the bottom of the screen between the live tweet discussion or the Shop tab that features all the products highlighted in the livestream broadcast. This new feature is one of a few other e-commerce initiatives that Twitter has rolled out in 2021. In July of this year, the platform also introduced shop modules that appear at the top of business profiles to facilitate online shopping.