Shopping while Scrolling: Social Media SPending
Since its genesis, social media has evolved from being an online place that people used mainly to network, stay in touch, and connect with other people to becoming an online marketplace for goods and services. Brands have taken notice, and are hoping to cash in on the increased usage of these social media sites.
While social media has created the ability to shop while you scroll, are consumers interested in mixing these activities or do they think shopping and social media should stay separate? Lab42 conducted research to shed some light on these changing consumer dynamics.
Overall, consumers appear to be open to the idea of shopping via social media platforms, with 46% of our respondents claiming they have either shopped or made a purchase via a social platform. The 3 top sites for purchasing include Facebook (77%), Instagram (34%) and YouTube (25%).
In what could affect digital storefronts in the same way online shopping affected brick and mortar shopping, we found that 47% of social media purchases happen within the apps themselves as opposed to a brand’s website or app. Additionally, more than 25% of GenZ are more likely to buy exclusively through social media when it comes to clothing, shoes and phone accessories.
Repetition and staying in front of consumers is the key to sales on social media platforms. Nearly half of our respondents noted they tend to plan their purchase only after seeing the product / advertisement at least 2 to 3 times. However, over a quarter of respondents are impulse buyers (meaning they purchase an item the first time they are exposed), with 64% of Boomers purchasing the item right away.
While the ease of shopping on social media is something that can drive a higher volume of sales, quality of items offered through social media is a big concern for shoppers. Without the explicit backing of a brand, customer service, or warranty, two-thirds of social media shoppers (66%) are concerned about the quality of items they purchase on social media.
For more highlights from our research, check out the full infographic below.
