Over 64% of Gen Z and Millennials have made a purchase through social media in the past year, according to recent data from Snap Inc. and Havas Media Network.
The study, which surveyed over 28,500 respondents across multiple countries, explores how brands can effectively connect with these ‘next gen’ age groups in the social commerce space.
The report found 88% of next gen respondents use social media to discover new products, while 44% use it to evaluate items for purchase. In the UK, 40% of social media users have bought products directly from third-party websites after being directed by a social media app in the past year.
“Our research found that 64% of Gen Z and Millennials have made a purchase through social media in the past year – these younger audiences embrace social commerce,” said Havas Media Network, global managing director, Seema Patel.
The data also highlighted the importance of community, with 85% of respondents including friends and family in their shopping journey through direct messages, tagging in posts and attending live shopping events together.
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Over one-third of Next Gen consumers have used augmented reality (AR), while nearly 3 out of 5 have attended a virtual shopping event – with 66% more likely to purchase a product after an AR experience.
More specifically, 60% of luxury purchasers in the UK say having a virtual try-on feature is key to driving purchase.
Other findings revealed the important of seamlessness, showing that 81% of next gen utilise the AI/chatbot feature, as it provides a ‘shopping buddy’ that delivers on ease and personalization.
The report, titled ‘the Next Gen Social Commerce Playbook’, comes in the wake of a booming social media landscape that represents 4.74 billion users around the world and is anticipated to hit £383.5 billion ($492 billion) in social commerce revenue in 2023.
“Social commerce has transformed the way we shop and on Snap, we’ve seen first-hand how friends and family influence buying decisions,” commented Snap Inc. global agency development manager Nadav Geft.
“With more than half of daily Snapchatters sending product messages and pictures to friends during their shopping journey, there’s a massive opportunity for brands to tap into the experiences that are resonating most with the next generation, underscoring the importance of real relationships ultimately driving real influence.”
