3. How We Spend It
How young people respond to retail, brand ethics + influence...
34% believe brands should be leading the way when it comes to saving the planet.
But only 1 in 5 worry about the ethical implications of what they bought and 1 in 4 worried about the environmental implications. So maybe in order to make changes in the industry more young people need to understand that their stories do not end at the label, but go all the way through the supply chain.
It seems the appetite to buy is still there despite young people ‘tightening their belts’ as their wage growth slows and rent/housing costs increase. 32% prefer to shop online than in stores making the dopamine hit of ‘buying’ available 24/7. The young Aussies we spoke to consistently vocalised their intention to be more conscientious about how they shopped, but this does not seem to have translated into action when dealing with fashion.
Nearly 3 out of 10 admitted they prefer cheap, fast fashion, but the reason other respondents disagree (4 in 10 prefer to buy fewer, better-quality clothes) is clearly not rooted in concern about the ethics of the industry. Only 14% said that they would rather pay to access something (clothes, cars, sports equipment, tech, etc.) when required, than own it forever. Further solidifying this apparent consumerism-first culture.
A third of our audience say they value experience over material things. Actually interacting with a brand or product — seeing how it would fit into their lives, and experiencing environments where brands can bring their stories to life — these things are vital when trying to connect with young people.
2/3 want to experience a product before they buy.
1/3 of our audience value experiences over material things.
32% prefer to shop online rather than in stores.
38% of our audience admit they buy things to make themselves feel better.
But conversely 41% feel guilty about buying things they don’t need.
Only 1/5 worry about the ethical implications of what they bought.
1/4 are worried about the environmental implications of consumerism.
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