The digitally native Snapchat Generation is here to stay and is now worth $95 billion in spending power here in Australia, or $4.4 trillion globally, according to new research from the messaging app.
The Snapchat Generation represents a new kind of shopper, one willing to immerse themselves in stories and experiences, and use the latest technology to their advantage.
Almost half (41%) of Snapchatters will go out of their way to shop at a store that aligns with their values, even if shopping there is an inconvenience, while half (50%) of users say they are less likely to buy from a brand that chooses to promote the opposite side of social issues that matter to them.
More than four in ten (44%), they are more likely to buy into brands if they can connect with the founder or brand backstory.
Augmented reality (AR) is an important engagement tool among almost half (47%) of Australian Snapchatters, who say it makes digital experiences more immersive and closer to real life. In Asia Pacific, Snapchatters are three times more likely to use an AR try-on product now than non-Snapchatters compared to one year ago.
Snapchat general manager for Australia, New Zealand, Southeast Asia and Hong Kong, Kathryn Carter said the Snapchat Generation is helping lead the digital transformation of the Australian economy.
“The data shows that brand loyalty is driven both by rational and emotional, with Snapchatters buying into brands who share their worldview and values. Brands need to embrace this value-driven approach to marketing, while delivering digital experiences that offer education, entertainment and distraction.”