Shopee: Vietnam's Generation Z Reduces Impulsive Spending
Jayson 10 Sep 2024 07:31
According to a survey conducted by Shopee and Kantar Profiles, 50% of Gen Z now spend at least 5 days to learn about products before buying and do not make impulse purchases.
Years ago, social networks were where young people showed off their shopping achievements, and they would post and show off the luxury goods they bought.
But this year, these situations are changing, and thriftiness has become a choice they feel proud of.
In the current economic context, when all costs and prices are rising rapidly, Gen Z chooses to be honest about their financial ability and stop buying luxury goods.
According to the report, in the second quarter of 2024, Shopee and Kantar Profiles released the results of a survey on the shopping behavior of Gen Z in Vietnam, which clearly showed the transformation of this generation's shopping behavior from impulsive to purposeful.
The report shows that 50% of Gen Z spend at least 5 days researching products before buying, including reading reviews (26%), watching product introduction videos (20%) and searching for price information.
In particular, two-thirds of Gen Zers consider e-commerce platforms as the starting point of their shopping journey and express trust in these platforms to learn about products before finalizing an order.
Notably, half of the survey participants initially chose to research products on social commerce platforms but subsequently returned to e-commerce platforms to complete the transaction.
Years ago, social networks were where young people showed off their shopping achievements, and they would post and show off the luxury goods they bought.
But this year, these situations are changing, and thriftiness has become a choice they feel proud of.
In the current economic context, when all costs and prices are rising rapidly, Gen Z chooses to be honest about their financial ability and stop buying luxury goods.
According to the report, in the second quarter of 2024, Shopee and Kantar Profiles released the results of a survey on the shopping behavior of Gen Z in Vietnam, which clearly showed the transformation of this generation's shopping behavior from impulsive to purposeful.
The report shows that 50% of Gen Z spend at least 5 days researching products before buying, including reading reviews (26%), watching product introduction videos (20%) and searching for price information.
In particular, two-thirds of Gen Zers consider e-commerce platforms as the starting point of their shopping journey and express trust in these platforms to learn about products before finalizing an order.
Notably, half of the survey participants initially chose to research products on social commerce platforms but subsequently returned to e-commerce platforms to complete the transaction.
