Some consumers may be cutting back
their spending based on economic fears. But not those in Gen Z, judging by Industry Pulse: Consumer Spending During Economic Uncertainty, a study by Wunderkind.
Of the Gen Z consumers polled,
78% have no plans to reduce their personal spending — a boon to marketers given that this cohort boasts $360 billion in disposable income, the study notes.
In another finding the
study reports that email is the most popular channel among consumers in both the U.S. and U.K.
Overall, 52% of U.S. consumers and 64% of U.K. shoppers are cutting back
on non-essential purchases. And 37% of U.S consumers are reducing their spending even on essentials, as are 30% in the U.K.
However, 63% of high-income Americans see no need to cut back on
luxury spending.
Meanwhile, 54% of U.S. consumers find out about brand deals through email — twice the percentage of those who find out about deals through
social-media ads.
In the U,K., email is seen as the best channel for all kinds of messaging, versus 60% in the U.S. In addition, 30% of U.S.
consumers are open to text marketing, compared to 20% in the UK.
Wunderkind surveyed 1,000 consumers, with 500 each in the U.S. and the U.K.