Gadgets are used to being in a group of luxurious products. But as time goes by, many types of gadgets like smartphones for example, are now becoming a necessity for almost everyone in this world.
A report from We Are Social 2023 said that the internet penetration in Indonesia, as a country with the largest digital economic growth in Southeast Asia [1] has reached 77%, and 98.3% of people access it using smartphones. According to International Data Corporation (IDC), the Indonesian smartphone market in Q3 2023 even showed growth until 8.8% compared to the same period in the previous year. [2]
As two generations with the largest population who grow up with and are highly connected to technology and internet, Generation Z and Millennials are believed to be the main actors for the growth of gadget market [1]. Covering around 32% of the population in 2019, the majority of Gen Z (98%) have even had a smartphone since they were 10 years old [3].
Additionally, research from IDC indicated that there is a change in consumer needs to switch to mobile devices with more sophisticated specifications from time to time [4]. And in sync with the facts above, some media even recommend people to consult with at least one of these two young generations first before buying a new gadget.
Due to this interesting phenomenon, in December 2023, Snapcart conducted research about Indonesian Gen Z & Millennials’ behavior in purchasing and using gadget, where we found some interesting facts below.
From 682 respondents (50% Gen Z & 50% Millennials), this research figured out that 40% of young people in Indonesia have more than 1 phone. And more than half of them (59%) are planning to buy a new gadget in the next few months. Meanwhile most of those who don’t plan to buy a new gadget said that the last time they bought a new gadget was around 1-3 years ago.
However, majority of all our respondents confessed that if they could find any gadget that has advanced camera features which can take (without being affected by the distance of the object) and upload clear photos/videos, plus equipped with beauty filters, they would purchase that gadget without thinking twice.
Breaking The Stereotypes
This study has discovered that not all stereotypes about Gen Z & Millennials’ behaviors in purchasing gadget are true.
Known as extremely tech savvy, extremely comfortable with technological evolution, and the most up-to-date generations, our survey found out that even though advanced camera features might lure Gen Z & Millennials to buy a new gadget, but interestingly, they confessed that fascinating features are not really their priority while purchasing a new gadget.
Many of them said that phone durability and price are the two most important things for them to be considered while they are shopping to buy a gadget. You can check the details of their answers below.
On the other hand, even though the cashless payment method is exceedingly popular since Covid-19 pandemic especially amongst young people, most Gen Z & Millennials still prefer to pay with cash while buying a new gadget. You can check the details of their purchasing behaviors in the infographic at the beginning of this article.
Always On Their Gadget
We often see that Gen Z & Millennials are always looking at their phone wherever they are. Therefore, we also asked our respondents about their habits in using gadgets, and we figured out that their answers are in sync with the previous data above.
For instance, in this study, we discovered that many Gen Z & Millennials are craving a “strong” gadget. And as we asked them further about their habit in using gadgets, most of them admitted that they spend more than 6 hours every day using their gadget(s).
Furthermore, advanced camera features that many of them desire are the result of social media influence that they access most of the time. You can see the details of this data in the infographic above.
Young Generations, Brand, and Prestige
Many studies have said that young consumers like Gen Z & Millennials are very attracted to certain brands for social prestige. Thus, we asked them some questions to find out whether this phenomenon is completely true or not, and our survey discovered that indeed, 87% of Gen Z & Millennials think that brands are so important for them in choosing gadget to buy. But most of them (89%) said that prestige is not the reason.
Curious to find out about market trends and certain consumer segmentation habits & behavior? Contact us at partners@snapcart.global .
Sources:
[2] https://www.idxchannel.com/economics/meramal-prospek-cemerlang-bisnis-gadget-dalam-jangka-panjang
