Social media platforms have been vying to become central hubs for ecommerce, and around 38% of US based adults are now using these sites to make purchases with all things having been considered and taken into account. Much of this growth is driven by consumers on the younger end of the spectrum, with 50% of Gen Z consumers and 51% of Millennial consumers reporting buying things from social media in a new report from Insider Intelligence.
Facebook is a more popular eCommerce location for Millennials, with 37% shopping on that platform as compared to just 20% of Gen Z consumers saying the same. TikTok is falling behind with just 12% of Gen Z and Millennial consumers making purchases from the short form video streaming platform, but with all of that having been said and now out of the way it is important to note that they are six times more likely to do so than consumers in the Gen X or Baby Boomer categories.
Social media ads are clearly playing a role in driving these sales, with 30% of consumers saying that they made a purchase after seeing an ad for a product that they liked. 30% also stated that they saw a discount code or voucher on social media that spurred them to make a purchase. According to this report, 27% of consumers suggested that using social media made it easier for them to buy things than might have been the case otherwise, and that can be a key part of the growth of social commerce moving forward.
One might assume that influencers are helping boost these sales, but in spite of the fact that this is the case they don’t seem to be having a huge impact on the Gen Z cohort. Only 15% stated influencer or creator content as a reason for buying a product, so social media ads and discount offers could be a bigger source of sales than influencers as of right now. Livestreaming seems to be especially popular with Millennials though which might help this form of marketing see an uptick.
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Facebook is a more popular eCommerce location for Millennials, with 37% shopping on that platform as compared to just 20% of Gen Z consumers saying the same. TikTok is falling behind with just 12% of Gen Z and Millennial consumers making purchases from the short form video streaming platform, but with all of that having been said and now out of the way it is important to note that they are six times more likely to do so than consumers in the Gen X or Baby Boomer categories.
Social media ads are clearly playing a role in driving these sales, with 30% of consumers saying that they made a purchase after seeing an ad for a product that they liked. 30% also stated that they saw a discount code or voucher on social media that spurred them to make a purchase. According to this report, 27% of consumers suggested that using social media made it easier for them to buy things than might have been the case otherwise, and that can be a key part of the growth of social commerce moving forward.
One might assume that influencers are helping boost these sales, but in spite of the fact that this is the case they don’t seem to be having a huge impact on the Gen Z cohort. Only 15% stated influencer or creator content as a reason for buying a product, so social media ads and discount offers could be a bigger source of sales than influencers as of right now. Livestreaming seems to be especially popular with Millennials though which might help this form of marketing see an uptick.
Read next: Is The World Obsessed With Subscriptions? This New Report Provides The Most Unique Outlook
