The latest Student Insights Report from the world’s leading Gen Z affinity network reveals that as high-frequency purchasers, students intend to spend big across every food and drink category
Nottingham, UK, 06 August 2024— With the highest average monthly spend in four out of seven categories, Gen Z is planning to spend hundreds of millions on eating and drinking in the coming months. That is, according to the latest Food and Drink Deep-dive Student Insight Report, which details findings from a comprehensive survey of 8,000 UK students in May by UNiDAYS, the network that enables students and graduates to discover savings.
The report reveals that, on average, students intend to spend more than any other generation on meals out with friends, lunch, takeaways, and coffee breaks, and coming a close second to millennials for date night meals, dinner parties, and drinks with friends. As the generation most likely to rank price as the primary driver, students are particularly keen to find offers that help them get what they want for less.
“The unique combination of high spending and price sensitivity sets Gen Z apart from other generations,” said UNiDAYS’ Food, Travel, and Leisure category lead, Sarah Clifford. “Whether it’s groceries, restaurants, fast food, or takeaways, they value lower prices over the ease of buying items in one place or making single transactions. Even those who rated convenience as higher said a student discount of 20 per cent or more would be enough to sway them. It’s no surprise that loyalty schemes are used primarily for discounts and free items.”
Affordability isn’t the only trend the report highlights. Gen Z is habitual when it comes to food and drink. The vast majority say they typically shop in the same place for groceries (81 per cent), hot drinks (69 per cent), fast food (68 per cent), and takeaways (63 per cent). This suggests Gen Z loyalty is hard-won, but it’s worth the effort as it’s also the generation most likely to splash the cash on meals and drinks during the winter holidays.
“Brands can’t underestimate the power of a great incentive. Gen Z presents a massive market opportunity but is also the demographic that values support the most. Targeting them when they’re young with rewards, deals, and discounts they crave not only gets the word out to build excitement but also keeps them coming back. From revision-cramming caffeine hits and grab-and-go meals to seasonal grocery hauls, tapping into key student moments will help brands win big,” added Clifford.
For more information, you can download your copy of the full Student Insight Report by visiting: https://corporate.myunidays.com/q4-student-insight-2024
