5.4 billion on nutritional supplements, travel and phones
One of the most successful Hungarian startups, Diverzum, has reached the one billion milestone. In Western countries, it is already a proven practice for brands to address and help young people with unique discounts, but in Hungary this has been in its infancy for a long time. Thanks to the Diverzum team, every student studying in Hungary is now given this opportunity. The platform’s data also shows that they are mostly looking for good deals on banking products, festivals, books, fashion and nutritional supplements.
1 billion left in the pockets of students
Approximately 700 thousand students participate in Hungarian public and higher education annually1. Of these, every third student has registered on Diverzum and every third of them has purchased something on it. Although it is true for almost all Generation Z members that they are price-sensitive, their spending habits are diverse, which well reflect their lifestyle and priorities. According to the platform’s survey, the most popular categories among students are “Shopping”, “Nutritional Supplements” and “Travel and Transportation”. Young people spend a total of 761,400 HUF per year in these three categories alone.
What does Generation Z spend on?2
Shopping: 348,000 HUF
Nutritional supplements: 216,600 HUF
Travel and transportation: 196,800 HUF
Electronics and accessories: 170,200 HUF
Food, Drink: 160,800 HUF
Sports: 159,900 HUF
Cosmetics, perfume: 139,200 HUF
Shoes and sneakers: 92,400 HUF
Reading, books: 65,800 HUF
Festivals and parties: 29,800 HUF
It is not for nothing that Diverzum has set itself the goal of attracting domestic and international brands such as fizz.hu, Spar, Líra, Starbucks and Nike. In their latest campaign, in which they are addressing young people together with K&H Bank, they are giving 55 thousand forints as a credit to students who open a bank account as part of the cooperation. The growing market power of Generation Z is also indicated by the fact that this year, the cooperative partner of the student discount platform is one of the leading financial institutions in Hungary, K&H Bank.
“Our bank is constantly looking for opportunities to reach the narrowing attention span of younger target groups with innovative solutions. As part of our innovative approach, we are researching modern and interactive platforms, such as Diverzum, which can provide us with a broad spectrum of access in the youth segment.”
– said Zoltán Rammacher, Head of Marketing for the Retail Customer Segment at K&H Bank.
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