Shoppers Around the Globe Turn to Social Media For Purchase Inspiration
Social networks are the most influential online media used by shoppers around the world when finding inspiration for their purchases, according to a study from PwC [pdf]. The survey, conducted among 22,000 consumers in 27 territories, also found many turning to retailer websites and price comparison websites.
While various website types do provide inspiration for shoppers, it’s notable that social media is the most frequently used for this purpose. As PwC argues, the findings “suggest that opinions and suggestions on social media sites — posted by friends and strangers alike — have more influence on specific purchase decisions than factors that retailers can control…”
These findings are backed up by research from Engagement Labs, which has found that social media conversations alone drive an estimated 9% of consumer sales in the US.
Previous research has also revealed that social media influences the purchase decisions of about half of US Millennials, and that 85% of Gen Z consumers use social media to learn about new products.
Read the full Marketing Charts article, here.
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