Study released by SheerID shows that more than half of Gen Z students in India feel optimistic about the economy and exclusive offers are an effective way to reach them.

SheerID, a global leader in identity verification for commerce, has published its 2024 India Gen Z Report. Conducted by Centiment, this survey explores Gen Z purchasing behaviors, brand expectations, and strategies for brands to effectively engage with this demographic. The report highlights Indian Gen Z students' optimism about the economy and their preference for exclusive offers.

• Optimism and Economic Outlook:

  • Indian Gen Z students exhibit strong optimism about the economy, driven by India's impressive 7% annual GDP growth rate.
  • Despite current budget constraints, the brand relationships formed now are crucial for tapping into their future spending power.

• Impact of Exclusive Offers:

  • Higher Purchase Likelihood: 93% of Gen Z students prefer exclusive student offers, with 92% checking for such offers before making a purchase.
  • Viral Sharing Potential: 99% of students are likely to share exclusive offers with others eligible, leveraging their social media engagement for viral brand promotion.

• Role of Social Media and Recommendations:

  • 74% of Gen Z students discover new brands through social media, and 37% through recommendations from friends or family.
  • Brands can capitalize on this enthusiasm by creating shareable, exclusive offers.

• Building Emotional Connections and Loyalty:

  • 64% of students feel more emotionally connected to brands offering exclusive deals, with 90% more likely to make a purchase and 80% inclined to join the brand's loyalty program.
  • 40% of students would switch brand loyalty for an exclusive discount, underscoring the importance of such offers.

• Preference for Freebies:

  • Beyond discounts, Gen Z is attracted to freebies. Preferred offers include free shipping (57%), free gifts (56%), and buy one get one free (39%).

• Importance of Verification Experience:

  • Instant verification and data privacy are crucial. 66% of students prefer instant verification without data sharing, while 50% find delays over five minutes detrimental to their purchase decision.
  • An open verification platform that integrates seamlessly into the purchase process enhances user experience and increases conversions.

SheerID's 2024 India Gen Z Report reveals that exclusive offers are essential for engaging Indian Gen Z students. These offers not only drive immediate purchasing decisions but also build long-term brand loyalty. Brands that leverage these insights and focus on a seamless verification experience can successfully tap into this influential market.