New Parity data illustrates the power of Gen Z spending in women’s sports

The GIST: Yesterday, Parity shared data from a survey of 2.4K U.S. Gen Z adults that ascertained their perspectives and purchasing behaviors. Compounding on previous data reflecting positive Gen Z attitudes toward women’s sports, this new report clarifies how Zoomers feel about women’s sports, women athletes, and sponsors in the space.

• We chatted with Parity’s director of research and insights Dr. Risa Isard yesterday about what we’re learning from Gen Z sports fans and how brands can genuinely reach this generation. We’re listening.

The data: Dr. Isard said Parity initially gathered the data in a more general survey, but the findings among Gen Z respondents revealed strong, widespread support of women’s sports and their sponsors, highlighting Gen Z as an economic force and “a women’s sports generation”: Its members were born between the founding of the WNBA (1997) and the NWSL (2013).

• Gen Z consumers are paying attention to women’s sports sponsors: They notched the highest awareness rates for six of 10 brand categories surveyed. They’re also 25% more likely than older generations to trust brands based on their sponsorship of women’s sports, and they’re twice as likely to say this brand support makes them proud to buy from them.

• Women athlete co-signs matter: Half of Gen Z respondents trust that athletes believe in products they promote, and 35% say sponsorships make them more likely to purchase, with both percentages outperforming all other generations. Dr. Isard calls Gen Z’s awareness, trust, and conversion a “deeply emotional cycle that brands are able to tap into.”

The why: Parity included some key economic stats that illustrate why brands should target Gen Z consumers. Currently, Gen Zers comprise 20% of the U.S. population, and despite their young age, their economic impact is already being felt. They’re on pace to be the richest generation in history, and their spending already outpaces other generations at similar ages.

• Dr. Isard noted the “synergy” between Zoomers and women’s sports as both are values-aligned, which bodes well considering their sports spending habits.

• Though millennials spend the most on sports, Gen Z isn’t far behind. Many in the generation say sports spending makes them feel connected, and they’re the most likely to blow their budget on sports. Interesting…

The takeaway: Parity recommends brands co-design products with women athletes, as it’s the strategy they found to be most likely to engage Gen Z — something New Balance learned partnering with Coco Gauff and Cameron Brink. Parity also suggests social media contests or giveaways: The first-ever digital native gen is 56% more likely than other generations to prefer this marketing.

• Overall, Parity’s findings affirm what we’ve seen over and over: Gen Z wants authentic, accessible content, and partnering directly with engaging women athletes is the most effective way to reach them. As Dr. Isard said, “the athlete is where it’s at,” and there’s opportunity at all levels of play, especially in the NCAA. Taking notes.