Gen Z is one of the largest generation and it started in the year 1996 and they are from 13 to 23 years old people mostly our youngsters and there is another category called Millennial and they are from 24 to 38 years old people. Obviously, they have a different mindset of shopping as their likings and disliking are different due to the gap. According to a new report from TheInfluencerMarketingFactory, Around 62% of Gen Z prefers shopping from online stores rather than physically going to the stores after the pandemic situation. Online shopping can be easy for them as they can see the reviews of many people before trying a new product for the first time according to the report of Influencer Marketing Factory.
The report further said that Gen Z is mostly inspired by social media platforms in terms of online shopping because they can get suggestions from different people who have also tried or used the product, so that have honest reviews before trying a product and its effects which the seller is not going to tell you. Around 40% of Gen Z follows different brands on social media platforms like Facebook, Instagram, Twitter, etc. In this way, they can have the information of the latest product while sitting at home, around 68% of Gen Z consumers read the reviews and suggestion of those people who have already used the product before making a purchase for the first time.
As the social commerce markets in the world have estimated 90 billion dollars in the year 2020, however, it is said that it can reach up to 604 billion dollars in the next 6 to 7 years at a CAGR of 31.4%. While speaking to more than 350 Gen Z and Millennials in the US, it was found that 38% of people give preference to online shopping because they get better reviews and can get the product easily at their doorstep. 32% of people prefer going to the store for shopping because they prefer the quality of the product which they can check before making the payment. 29.5% of people prefer both online and in-store shopping.
The most purchased items on social media are Apparel and Beauty care, after that Tech and home products. Around 2.08% of people purchase other products. 90% of marketers think that influencer marketing is effective because it makes up the mind of customers, and 72% people think that the quality of consumers from these campaigns are much higher, in this way marketers understand what the customers actually want. Shoppable stories and different posts are making it easy for the awareness of brands and it creates an opportunity for the new marketers to make their place on social media platforms in order to get new customers.
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The report further said that Gen Z is mostly inspired by social media platforms in terms of online shopping because they can get suggestions from different people who have also tried or used the product, so that have honest reviews before trying a product and its effects which the seller is not going to tell you. Around 40% of Gen Z follows different brands on social media platforms like Facebook, Instagram, Twitter, etc. In this way, they can have the information of the latest product while sitting at home, around 68% of Gen Z consumers read the reviews and suggestion of those people who have already used the product before making a purchase for the first time.
As the social commerce markets in the world have estimated 90 billion dollars in the year 2020, however, it is said that it can reach up to 604 billion dollars in the next 6 to 7 years at a CAGR of 31.4%. While speaking to more than 350 Gen Z and Millennials in the US, it was found that 38% of people give preference to online shopping because they get better reviews and can get the product easily at their doorstep. 32% of people prefer going to the store for shopping because they prefer the quality of the product which they can check before making the payment. 29.5% of people prefer both online and in-store shopping.
The most purchased items on social media are Apparel and Beauty care, after that Tech and home products. Around 2.08% of people purchase other products. 90% of marketers think that influencer marketing is effective because it makes up the mind of customers, and 72% people think that the quality of consumers from these campaigns are much higher, in this way marketers understand what the customers actually want. Shoppable stories and different posts are making it easy for the awareness of brands and it creates an opportunity for the new marketers to make their place on social media platforms in order to get new customers.
