Table of Contents

1. Key Highlights:
2. Introduction
3. Streaming Choices Reflect Changing Media Consumption
4. Sneakers: A Shift in Athletic Footwear Leadership
5. Apparel Preferences Showcase Dynamic Fashion Sense
6. Handbag Loyalty Declines with Budget Consciousness
7. Water Bottle Trend Indicators: Owala Takes the Lead
8. Workout Methods: The Preference for Indoor Gyms
9. Car Brand Preferences: Mercedes Rises Amidst Tesla's Decline
10. Digital Wallets: The Shift Towards Convenience
11. Conclusion

Key Highlights:

• More than 500 Morgan Stanley interns shared their brand preferences, indicating a significant shift in consumer loyalty amongst Gen Z.
• Rising brands, such as Hoka and Aritzia, are gaining traction as luxury brand loyalty declines, with nearly 40% of interns showing no attachment to any handbag brand.
• Popular picks in streaming, sneakers, apparel, and workout methods were highlighted, showcasing the distinctive tastes shaping consumer trends in the workforce.

Introduction

Gen Z has made a substantial impact on corporate culture, with their preferences challenging conventional consumer norms. A recent survey by Morgan Stanley, involving over 500 summer interns, explores the emerging brand preferences within this demographic. The findings offer insights not only into the personal tastes of these young professionals but also into broader shifting trends in retail and brand loyalty. From their affinity for innovative brands to their disinterest in traditional luxury, the results paint a portrait of a generation that prioritizes authenticity, functionality, and personal expression over status symbols.

This article dissects the key findings of the survey, revealing how younger consumers navigate brand loyalty, their media consumption habits, and their outlook on fitness. In doing so, we gain critical insights into the evolving landscape of consumer preferences.

Streaming Choices Reflect Changing Media Consumption

In the realm of music and video streaming, Morgan Stanley interns demonstrated clear preferences that underscore their shifting habits away from traditional media consumption. A commanding 69% of interns reported subscriptions to Spotify, eclipsing competitors such as Apple Music and YouTube, which garnered 23% and 17% respectively. This trend signals a pronounced appreciation for platforms that prioritize user experience and music discovery.

When it comes to video streaming, Netflix remains the most frequented service, with 27% of respondents using it most often. However, YouTube is not far behind at 25%, while TikTok, a platform that has captured the attention of the younger demographic with its short-form content, accounts for 12%. The varied preferences suggest a multifaceted approach to media, as these interns balance entertainment across different platforms.

Sneakers: A Shift in Athletic Footwear Leadership

The sneaker industry, long dominated by heavyweight brands, is witnessing a gradual shift as the preferences of Morgan Stanley interns reveal their leanings. Once the undisputed leader, Nike has captured only 36% of respondents as their top athletic shoe brand, a stark decline from 58% in 2021. Adidas follows with 11%, while Hoka has made significant strides, securing the loyalty of 10% of surveyed interns.

This shift raises questions about Nike's dominance and highlights the increasing enthusiasm for newer entrants like Hoka, suggesting consumer yearning for brands that resonate with their values of comfort and functionality.

Apparel Preferences Showcase Dynamic Fashion Sense

Fashion among young professionals is dictated by both style and practicality. The Morgan Stanley survey revealed that Zara tops the list of preferred apparel brands, capturing 24% of the intern preferences. Close contenders include Lululemon (22%) and Aritzia (19%), with each brand demonstrating unique value propositions that resonate with this generation.

While Zara and Lululemon secured the top spots, they have also experienced slight declines in preference share. Conversely, Arc'teryx, Aritzia, and Ralph Lauren have gained ground, signifying a shift towards upscale casual wear and luxury. Aritzia's expansion strategy that includes increased retail presence and refined inventory appears to be paying dividends in attracting a younger consumer base.

Handbag Loyalty Declines with Budget Consciousness

In the realm of handbag choices, a notable shift has emerged among female-identifying respondents within the intern cohort. Approximately 38% of interns indicated that they exhibit no loyalty to any handbag brand, an increase from last year's 30%. Longchamp, the most recognized label, was mentioned by only 13% of respondents, while Coach trailed at 15%.

This pattern reflects a growing tendency towards cost-effective options among young consumers. The decline in interest towards luxury brands, from 23% to 15%, points to a pragmatic approach to spending that aligns with Gen Z's budget-conscious mindset.

Water Bottle Trend Indicators: Owala Takes the Lead

When it comes to hydration solutions, the choice of water bottles signifies more than just a utility; it reflects the user’s lifestyle choices. Owala emerged as the dominant brand, favored by 62% of Morgan Stanley interns, marking a decisive shift from previously popular brands. Hydroflask and Yeti are now tied for second place, while Stanley Cups—once the hallmark of style—now sit at 28% preference.

This trend towards more accessible and customizable options like Owala showcases a decisive pivot towards brands that cater to individual personalization and practical use over mere aesthetics.

Workout Methods: The Preference for Indoor Gyms

Physical fitness remains a priority for many young professionals, yet the methods chosen reflect their preferences for environment and convenience. Approximately 50% of Morgan Stanley interns prefer indoor gym workouts, contrasting with 27% who favor outdoor activities. The popularity of group fitness classes holds a modest share at 15%.

With corporate America taking notice, fitness amenities are becoming more common in workplaces. JPMorgan's new headquarters, for example, promises a "state-of-the-art" membership fitness center with professional trainers—evidence that the demand for wellness and physical health resources is growing within corporate environments.

Car Brand Preferences: Mercedes Rises Amidst Tesla's Decline

The survey findings regarding automotive brands show a significant shift in favorability among young professionals. Mercedes has emerged as the leading choice, referenced by 21% of interns, while Tesla has experienced a dramatic fall from grace, dropping from 30% favorability in 2021 down to 5%.

This sharp decline is indicative of a broader sentiment as perceived value, reliability, and status begin to overshadow the brand cachet previously held by Tesla. A May YouGov survey corroborates this shift, revealing that the general American public’s favorability towards Tesla has also reached a nine-year low.

Digital Wallets: The Shift Towards Convenience

The survey also explored the use of digital payment methods among interns, with Apple Pay dominating as the preferred service. A remarkable 82% reported using it at least once a week, showcasing a clear preference for convenience and integration with everyday transactions. Following Apple Pay are Venmo (37%) and PayPal (14%), highlighting a growing movement towards cashless transactions among younger consumers.

Conclusion

The insights gleaned from Morgan Stanley's internship survey reveal a powerful narrative of shifting preferences among Gen Z. Their choices in brands and lifestyles signal a fundamental transformation in consumption, driven by values of authenticity, practicality, and individual expression. As this new cohort of professionals enters the corporate landscape, their preferences will undoubtedly influence the future of consumer trends and shape the strategies brands must adopt to engage this dynamic demographic.

FAQ

What brands are becoming more popular among Gen Z? Brands like Hoka and Aritzia are gaining traction due to their alignment with Gen Z values of comfort and functionality, while traditional luxury brands are seeing a decline in loyalty.

How is Gen Z impacting current consumer trends? Gen Z's preferences signal a shift towards authenticity, practicality, and budget-consciousness, resulting in a decline of traditional luxury brands and a rise in innovative, lifestyle-oriented brands.

What are the favorite digital payment methods among young professionals? Apple Pay is the most popular digital wallet, used weekly by the majority of surveyed interns, highlighting a trend towards cashless and convenient transaction methods.

Which streaming services do Morgan Stanley interns prefer? Spotify leads the way as the most preferred music streaming service, while Netflix and YouTube are favored for video content, reflecting their diverse consumption habits.

Why are in-office gyms becoming important to corporations? The increasing preference for indoor gym workouts among employees pushes companies to invest in fitness amenities, recognizing their impact on employee well-being and productivity.