Black Friday and Cyber Monday might be nearly three months away but for students they cannot come soon enough, with a new analysis revealing many are allocating their first loan payment of the year to bag as many deals and discounts as possible, with £566m up for grabs.
That is according to the Holiday Season Deep-dive Student Insight Report, which details findings from a comprehensive survey of 8,000 UK students in May by Unidays, the network that enables students and graduates to discover savings.
The report highlights that around half of all Gen Z respondents intend to synchronise big tech purchases, such as laptops and mobile engagements, with the upcoming Black Friday and Cyber Monday sales events. This finding is consistent with older demographics, with only Baby Boomers (23%) falling behind Millennials (46%) and Gen X (38%).
The survey also unveiled an unexpected trend compared to older respondents. The vast majority of Gen Z said they are aiming to snag deals across all other categories, with fashion (60%), beauty (45%), and other lifestyle essentials (29%) topping the table.
Unidays managing director of retail marketplace Derek Morrison said: “As students flock back to campus, it means paying for expensive accommodation, fresh supplies and a host of big-ticket items. It’s little wonder more than four in five wait for the Black Friday weekend to cash in on the all-important savings.
“Our findings show that having a more limited income stream than other generations means Gen Z maximises every penny. That’s why nearly half intend to use the event to secure wish-list items.
“Brands must meet them at their passion points and help them save money on the things that matter most. We know a quarter will use the pre-holiday sales to get festive presents sorted, so enabling them to splash out on gifts for loved ones this holiday season will go a long way to securing long-term loyalty.”
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