Students aren’t just for Freshers.
With Freshers period underway, we’re here to remind you that all the excitement, jubilation, (and spending) doesn’t stop here. There’s a common misconception that students have little to no money during their university years, but the data suggests otherwise, and that trend appears to be going only one way – up.
Student spending on the rise.
“In a typical week in 2019, students spent £214. In 2020, £229. In 2021, £235.” UCAS Report 2022
That’s a 12% increase in student expenditure during a period that saw multiple national lockdowns, limited inflation, and a stunning lack of 3 VKs for a fiver. It appears that students have been somewhat immune to the impacts of the pandemic and the cost of living crisis, with many spending like never before.
It seems “Treat yo’ self” has become a motto among Gen Z who are looking for the extra encouragement to splurge (Y Pulse 2018).
Money Savvy Gen-Z.
There are many factors that come into why students are displaying this increase in expenditure. The rise of the ‘side hustle’ has seen much of Gen-Z embrace new ways to earn money, with the job market becoming increasingly globalised and remote-friendly. This provides students with the flexibility to both study and work, leading to increased expendable cash. Gen-Z also appears to be much more financially savvy than their predecessors, with access to tools such as peer-to-peer payments, crypto, challenger banking, and the shrewdness to make the most of them (UCAS Report 2022).
What we are seeing, as a result, is a generation of students that are increasingly financially independent and capable of purchasing.
Here for a Good Time & a Long Time.
With over 600,000 international students in the UK, the need for housing year-round has increased (Higher Education Statistics Agency). As a result, PBSA sites are typically offering 48 to 51-week tenancy agreements. This means that students, both international and domestic, are spending longer in their university location and in their student accommodation. So rather than being seasonal guests, students are more commonly year-long dwellers of their establishment.
This means that brands should be targeting students throughout the year, and not just during the typical (and often saturated) windows of freshers and re-freshers.
Dates you don’t want to miss.
As you can see, there are major events throughout the year that are prime for advertisers:
There’s one date we haven’t included and that’s because we think that it deserves its own section. Did you know that ‘Singles’ Day’ is now the world’s largest shopping event? It started in China as a sort of protest against Valentine’s Day and is now the world’s largest shopping event by quite some distance – it’s 4x bigger than both Black Friday and Cyber Monday (UCAS Report 2022). Despite its relatively low profile in the UK, Singles’ Day focuses on sustainability and inclusiveness – two major selling points when targeting Gen-Z. Singles’ Day 2022 is set to be the biggest yet, with Gen-Z looking primed to jump on it.
Where we step in.
Our digital screens are located in high dwell and high footfall locations within student living spaces, and did you know that over 77% of students do their online shopping when they’re at home, rather than when they are on the move? (Digin, 2021).
Picture this – you open up your cupboard and find nothing but a tin of beans and three strands of spaghetti. You turn around and see an advert for a tasty burger and in one quick scan of a QR code, you’re taken straight to a menu, and… the rest is history.
We’ve taken a traditionally hard-to-reach student audience and brought the power of advertising to the comfort of their own homes. Now, with all that in mind, imagine being able to target this audience for 48-51 weeks a year in their own home… sounds like you’re on to a winner to me.
Come and chat with us today to find out more about booking our network for your Gen-Z targeted campaign.