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MERGE conducted a study of 1,000 Gen Z consumers and tracked spending for a select group attending concerts, sporting events and festivals this summer. The study reveals key insights into Gen Z’s spending habits around events, including:
- Brand activations drive purchases: Nearly 64% of respondents said they made purchases due to event advertising, with frequent attendees of Food Fairs and Fashion Events particularly influenced by brand collaborations.
- Most popular events for Gen Z: Professional sports and music festivals rank as the top event categories for Gen Z. Authenticity is a core value, with Gen Z largely unmoved by social status or “social currency.”
- Sustainability ranks low: Despite popular assumptions, sustainability concerns were not a major factor in Gen Z’s event attendance decisions.
- Males vs. Females: Males are more likely to make impulse purchases at sports and tech events, often driven by event merchandise or team loyalty. They also prefer using video reviews, podcasts, and AR/VR for research. Females, on the other hand, tend to overspend due to emotional connections or FOMO, and are more inclined to attend arts, culture, fashion, and beauty events.
- Older vs. younger Gen Z: Older Gen Zs (25+) are more likely to overspend for convenience and ease of access, while younger Gen Zs (under 25) are drawn to rallies and protests, driven by peer influence, and prioritize diversity and inclusion.
Check out MERGE’s full report for more.
