‘Experiences over possessions’: Gen Z study finds a generation living for today
Gen Z was born into the digital world, but are increasingly trying to find real-world experiences, according to a new generational study by Live Nation agency, Secret Sounds Connect, and Pollinate.
‘Love Song’ collated responses from more than 2,680 Gen Z’ers across Australia in order to parse the cultural and social trends shaping the youth in 2024 and beyond.
The study revealed that Gen Z value unquantifiable qualities such as ‘living in the moment’, ‘being happy’ and ‘bonding with friends’ above ‘being successful in their career’ (29%), ‘getting married’ (13%) ‘having kids’ (33%) or ‘buying a house’ (26%).
Given Live Nation reported a 79% jump in ticket sales in 2023 across Australia, it’s not surprising that 89% of Gen Zers say music is integral to who they are. 70% of Gen Z attend a live music event at least once a month, and 79% even place musicians as their second-most-trusted source, behind friends.
This carpe diem attitude is reflected in the sobering realisation that over half of Gen Z would not be surprised if the world ended within their lifetime. 81% agree “I try to have as much fun now and let the future look after itself” – compared to 74% agreeing with this sentiment in 2023.
Continuing this trend, 94% prioritise things that bring them joy; 90% prefer to spend money on experiences over possessions; and 66% saving for an experience or travel over long-term assets such as a house or car.
Kristy Rosser, Founder of Secret Sounds Connect and Senior Vice President, Marketing Solutions & Client Services at Live Nation ANZ, said: “Our annual ‘Love Song’ study provides valuable insights into Gen Z, the world’s largest generation, which is continually being shaped by global events and the economy. There has been a marked shift in priorities when comparing Gen Z to previous generations. ‘Love Song’ helps brands stay up to date with trends, and to understand and connect with Gen Z culture, values and passions.”
Frances Deighton, Strategy Lead for Partnerships at Live Nation and Secret Sounds Connect added: “We’re committed to helping our partners stay at the forefront of what youth audiences value so they can place their brands at the heart of the cultural moment.
“The world and consumer tastes change so quickly and brands need to continue being dynamic and adaptable when it comes to reaching Gen Z audiences.”
Here are further findings from the ‘Love Story’ study:
- 83% want to experience real over digital life, with 87% seeking out real-world connections now more than ever before.
- Niche is the new norm. 82% claim that “being weird” is in, and 58% say the more absurd something is, the cooler it becomes.
- “Rizz” – Oxford’s word of 2023 – represents Gen Z’s desire for individual expression, with 87% of Gen Z preferring to be seen as “authentic” rather than “cool.”
- 62% want to stand out rather than blend in, with 95% saying dopamine dressing is IN for 2024, along with country music – over a quarter of Gen Z listen to the genre on a regular basis.
- As social media platforms have moved further towards entertainment and commerce, 78% said they prefer to share life updates in private chats over public posts.
- Tik Tok creators are looked upon more favourably than Instagram influencers with trust levels at 36% vs. 26%. The majority of Gen Z prefer raw, imperfect content over a polished lifestyle.
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Nathan Jolly is the Deputy Editor of Mumbrella. He joined the team in July, 2023.
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