What’s driving your customers’ tech purchases in 2024?

If you’re in the tech or SaaS marketing game, you know that staying ahead of consumer trends is key to staying relevant. Lucky for you, GWI’s Tech Purchase Journey 2024 report is here to help you navigate the ever-evolving landscape of tech purchases.

Understanding the generational divide

GWI surveyed 15,796 internet users across nine markets, aged 16-64, and split them into four generational cohorts: Gen Z (16-26), Millennials (27-40), Gen X (41-59), and Baby Boomers (60-64). And while we know everyone is different, this comprehensive study uncovers some interesting (and distinct) preferences and behaviours when it comes to buying tech gadgets.

Key influences on tech purchases

Ads and social media

• Gen Z and Millennials: These digital natives are all about ads in video and mobile games, influencer posts, and content on mobile apps. They’re drawn to exclusive content and love seeing those heart emojis and thumbs up on social media.
• Gen X and Baby Boomers: Prefer the good old-fashioned TV commercials and print ads in magazines and newspapers. They trust conversations with salespeople and love flipping through physical product brochures.

Social media impact

Social media’s sway is undeniable, but it’s the strongest among the younger crowd. Friends, family, and influencer posts are golden for Gen Z and Millennials.

Purchasing drivers

• Convenience: Click & Collect delivery, easy returns, and lightning-fast online checkout processes are big winners for all generations.
• Reputation and Status: For the younger crowd, boosting their online rep and being in the know about the latest tech is a must.
• Exclusive Offers: Everyone loves a good deal, and exclusive content and services are a strong motivator across the board.

Brand preferences by generation

• Gen Z: They’re all about brands like HONOR and Beats by Dre, appreciating innovation and top-notch tech.
• Millennials: They lean towards brands like Bang & Olufsen and Meta, seeking premium quality and advanced features.
• Gen X: They trust established brands like Lenovo, valuing robust and reliable products.
• Baby Boomers: Also favour Lenovo but place high importance on durability and long-lasting devices.

The Importance of smartphones

Smartphones are the top priority for consumers of all ages planning to buy new gadgets. This shows just how central mobile technology remains in our daily lives and the ongoing need for brands to try new things in this space.

Key takeaways for brands

• Tailored Marketing: SaaS and tech brands need to tweak their marketing strategies to hit the right notes with each generation. For the younger crowd, social media and exclusive online content are key. For the older generations, traditional media and face-to-face interactions still hold strong appeal.
  • Example: For Gen Z and Millennials, run a social media campaign featuring influencers unboxing and reviewing your latest gadget. For Gen X and Baby Boomers, consider investing in TV ads or partnering with retail stores to have knowledgeable salespeople demonstrate your product in-person.
• Emphasise quality and innovation: While everyone values quality, the younger folks are especially drawn to innovative and high-tech features.
  • Example: Highlight the cutting-edge features of your product, like AI integration or superior camera technology, in your marketing materials aimed at Gen Z and Millennials. Use real-world use cases and testimonials to showcase durability and reliability to appeal to Gen X and Baby Boomers.
• Enhance the online shopping experience: Smooth out the online shopping process with features like easy returns, Click & Collect, and speedy checkouts to significantly boost sales.
  • Example: Implement a seamless online checkout process that includes multiple payment options, like digital wallets and buy-now-pay-later services. Offer Click & Collect services and clearly communicate your easy returns policy to build trust and encourage purchases.

Summing up…

GWI’s report highlights the importance of understanding generational differences in tech buying behaviour. By tapping into these insights, tech brands can better meet the needs of their diverse consumer base and stay competitive in a rapidly evolving market.

For a deeper dive into the data and more detailed insights, you can explore the full report here.