Gen Zs prefer to spend money on experiences over possessions at 90%, while 66% said they are saving for an experience or travel rather than long-term assets such as a house or car, a study has found.
‘Love Song’, a quantitative survey of Gen Z in 2024 by Secret Sounds Connect, the experiential and creative agency, part of the Live Nation Entertainment group of businesses with strategic research consultancy Pollinate, revealed that 94% are prioritising things that bring them joy.
The research, which collated responses from more than 2,680 Gen Z’ers across Australia and New Zealand, found that most of the generation have discarded the “life blueprint” of their predecessors – career, getting married, having kids, and buying a home – with a focus on living in the moment, being happy and bonding with friends.
The Secret Sounds Connect study found that Gen Zs are “living for today”, with many unsurprised if the “world ended within their lifetime”. It noted an increased number of young people agreed to want to “have as much fun now and let the future look after itself” at 81% compared to 74% in 2023.
Music was found to be Gen Z’s leading passion, with 89% saying music is integral to who they are. It reported that 70% of Gen Z attend a live music event at least once a month, which coincided with a 79% increase in ticket sales in 2023 across Australia and New Zealand, according to Live Nation.
Meanwhile, music artists were found to be the most trusted among this generation (79%), second to friends.
Kristy Rosser, founder of Secret Sounds Connect and senior vice president, marketing solutions and client services at Live Nation ANZ, said: “There has been a marked shift in priorities when comparing Gen Z to previous generations.”
Additional insights from the report also found that Gen Zs are looking for real-life experience real over digital, with 87% seeking out real-world connections now more than ever before.
The idea of “being weird” is in, with 82% of Gen Zs agreeing it is the new norm, while 58% say the more absurd something is, the cooler it becomes. This is further seen in Gen Z’s desire for individual expression, with 87% of Gen Z preferring to be seen as “authentic” rather than “cool.”
Adding to valuing authenticity is the desire to stand out rather than blend in, with 95% highlighting “dopamine dressing” (finding joy in the things you choose to wear) as an in-trend for 2024.
Meanwhile, the Secret Sounds Connect survey found that as social media platforms move towards entertainment and commerce, 78% of those survey show preference for sharing life updates in private chats over public posts.
The report also showed favourably of TikTok creators over Instagram influencers with trust levels at 36% vs. 26%, with Gen Z preferring raw, imperfect content over a polished lifestyle.
Frances Deighton, strategy lead for Partnerships at Live Nation and Secret Sounds Connect affirmed its commitment to with its partners to staying at the forefront of what youth audiences value to ensure their brands are at the centre 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.”
Secret Sounds Connect, which is part of the Live Nation Entertainment group of businesses, is a market-leading commercial rights, experiential and creative services agency, responsible for developing and executing brand campaigns in music and entertainment.