The “Insights to Gen Y’s Buying Behaviour & Their Preferred Brands” study identified the most influential and preferred brands across the food and beverage; FMCG; and fashion and accessories segments.
The study interviewed more than 1,000 respondents in the first quarter of 2013 and found that in fashion and accessories, H&M is the most preferred brand in the apparel category, while Charles & Keith and Crumpler are the most purchased brands in the footwear and bags categories, respectively.
Members of the age group are most likely to try apparel (44 per cent) in the store and then purchase it online, followed by footwear (42 per cent) and bags (33 per cent).
The study also showed that four out of the top five items that Gen Ys frequently purchase online are fashion-related. On average, 47 per cent of Gen Ys will buy something they like immediately.
In the food and beverage industry, Din Tai Fung is the most mentioned restaurant, while Starbucks leads the café category and Old Chang Kee is the top influential brand in the kiosk category.
The study showed that overall, Gen Ys tend to make decisions more often when they are with their friends than with their families. Compared to restaurants (4 per cent) and cafés (8 per cent), 20 per cent of Gen Ys don’t visit kiosks.
This group is more active in capturing and sharing dining moments on social media, with 43 per cent of them always or often doing so, and more than 50 per cent of them visiting the restaurants or cafés their friends post on social media.
In the FMCG industry, Coca-Cola, Pokka and Heineken are the winners in the carbonated, non-carbonated, and alcoholic beverage categories, respectively. Nestlé was selected as the most mentioned confectionery brand, while The Body Shop is Generation Y’s most preferred skincare brand.
When purchasing confectionery, taste is the most important consideration, followed by quality and price. The respondents tend to be more impulsive when purchasing non-carbonated beverages than carbonated beverages, and they tend to try a new alcohol brand that is recommended by friends.
Three quarters of Gen Ys will visit another store to purchase their preferred skincare brand.
“Generation Y shoppers are practical and assertive when making shopping decisions, communicating clearly their preferences and how brands can engage them,” said Jorge Rodriguez, director of strategy at Influential Brands. “It is a matter of listening carefully what they want and how they want to be engaged.”