/ resources
Consumer Insights Q2 2024
August 27, 2024
Contributing Writer, Bizrate Insights
For a PDF download version of this report: Download Now
As online shopping has become a lasting lifestyle for today’s consumers, social media has grown into our virtual shopping mall. Users chance upon new products, encounter influencer recommendations, seek reviews, make purchases, and engage with friends, creators, and brands—turning these platforms into an all-in-one destination blending entertainment, connection, and commerce.
Social media is now a central marketplace encompassing—and blurring—all phases of the shopping journey. Brands that understand where and how consumers are navigating this experience, from inspiration to post-purchase engagement, will stand out among the rest.
To help you achieve that goal, we surveyed over 1,000 consumers for insights you can use to reach and engage customers in this evolving social landscape.
Bizrate Insights surveyed 1,014 U.S. social media users in July 2024 to understand their attitudes and behaviors toward social commerce.
Social media influences the entire customer journey, from product discovery to post-purchase behavior. Nearly all consumers (90%) discover new products on social media, and the majority of social media users (66%) have completed a purchase through a social platform.
There’s a clear generational divide in purchase habits, with 84% of those aged 18 to 29 having purchased through social media, compared to 47% of customers over 65. In fact, about a third of shoppers aged 18 to 29 make purchases through social media at least weekly.
Shoppers encounter new brands and products through a variety of sources, and brands that leverage a hybrid (paid and organic) strategy, as well as multiple types of content, can boost their chances of gaining attention.
When shoppers were asked how they most commonly discover new products on social apps, the two answers tied for number one were targeted ads, and posts from family and friends (42% each)—an interesting juxtaposition of a paid and organic approach. Self-research came in next (39%), followed by sponsored content from influencers (33%), influencer recommendations that are not sponsored (27%), and organic content posted by brands (25%).
Consumers are increasingly using social media in the same way they’d use Google. Nearly half (44%) of Americans search for reviews on social media to investigate products or brands, while over a third use it to search for and research new products (39%), compare prices (35%), and hunt for discounts (35%).
Younger generations are driving this trend in social search. Consumers under 29 are more than twice as likely to use social media for researching products compared to shoppers over 65.
In fact, shoppers under 29 primarily use social media over Google to learn about new brands or products. YouTube (61%) is the number-one channel they use to learn about new products and brands, followed by TikTok (54%) and Instagram (52%). This demographic is also more than twice as likely to use TikTok and Instagram for discovering new products compared to consumers over the age of 55.
More traditional channels, like TV and browsing in store, are still in the mix for how older generations (over 55) tend to learn about new products, which requires a more integrated marketing approach for brands targeting this demographic.
Upon discovering your product, it’s likely shoppers are taking a beat (if at least a short one) to do more research before deciding to buy. The majority (63%) say it takes seeing a product 2 to 3 times on social media before they decide to purchase, while 29% say it takes four times or more.
The greatest factor in a shopper’s decision to buy is “brand reputation or familiarity.” Next are promotions, comments and reviews, and recommendations from family and friends.
As more shoppers conduct their own research, aim to educate and build trust by offering valuable, informative content on preferred apps, engaging with reviews and users, and layering in sales or special offers to incentive consumers to purchase.
Influencers play a sizable role in the shopping journey, but the opinions of friends and family on social media are unmatched in generating product interest, trust, and ultimately, the decision to purchase.
A whopping 81% of consumers say their perceptions of a product are influenced by seeing it liked or shared by friends or family. Over 40% say it encourages them to learn more about the product, over a third (36%) say it increases their trust, and over a quarter (29%) say it makes it more likely they’ll go ahead and buy it.
Most importantly, the majority (63%) of consumers regularly decide to buy based on the activity of friends and family on social media (e.g., posted recommendations, comments, tags, or shares). This is especially true for younger consumers, with 77% of ages 18 to 29 and 74% of ages 30 to 39 doing so.
As for the types of content from friends or family that get them to buy, seeing the product in real life is the most influential, followed by discount codes, evidence of a positive impact on their lifestyle, and comparisons with other products.
Chart: How Often Do You Make a Purchase Based on a Friend or Family Member’s Activity on Social Media? (% Always/Often/Sometimes)
Consider how you might incorporate referral programs, encourage sharing among personal networks, and leverage user-generated content and testimonials from customers to enhance social proof.
To illustrate the snowballing power of friends and family on social media, data reveals that 65% of shoppers also follow and trust influencer recommendations from friends and family. Top reasons include this expands their knowledge (49%) they value their network’s opinions (48%), it helps them discover shared interests (40%), and their friends and family know what they like (33%).
In fact, over a third of American shoppers (34%) trust influencers recommended by friends and family more than ones they’ve found on their own. Young consumers under 40 especially place greater trust in these influencer recommendations over ones they’ve self-sourced (about 43%).
“I trust their opinions, and they know what I like. If they’re telling me about it, I probably will like it.”
– U.S. consumer (female, 30 to 39 years old)
When shoppers trust a resource, they’re excited to share it. Forty-four percent of shoppers share content from trusted content creators with friends or family every month, while 28% share at least weekly. This frequency hikes up for younger consumers, with nearly half (46%) of shoppers under 30 and 38% of ages 30 to 39 sharing daily or weekly.
When partnering with content creators, ask that they encourage their followers to spread the word to friends and family who can benefit from your product or services.
About half (49%) of shoppers make purchases from influencer recommendations. Influencer marketing has become an integral part of the buying journey for younger consumers (18 to 29), who are four times as likely as those over 65 to be “influenced.”
Take note, however, that shoppers on social media are ultimately more keen to open their wallets based on the advice of creators regarded as trusted experts and who feel relatable, rather than recommendations by celebrities. And again, data confirms that friends and family are second to none.
When creating content or working with partners, prioritize authenticity by leaning into usergenerated content that builds trust and feels authentic and relatable.
Social media is the hub that not only facilitates, but also feeds back into the shopping journey, which means post-purchase engagement is a crucial part of the modern sales and marketing strategy. Given the power of reviews, UGC, and recommendations from within one’s personal circle, brands must tap into what motivates shoppers to share about their personal experiences online.
In the spirit of connectedness, altruism emerges as the top motivator for shoppers, with nearly half of consumers (47%) saying they’re driven to share their shopping experiences because they want to help others make informed decisions. Over a third (37%) enjoy the opportunity to give direct feedback to the brand, 33% are excited to share their personal thoughts, and 30% are incentivized by rewards or recognition from the brand.
Engage customers by inviting them to share their feedback and contribute their valuable thoughts to their online community.
When it comes to making a purchase on a social media platform, over 70% of consumers express concerns about scams or fraud. Over half (54%) are worried about product quality and authenticity, and 47% are uneasy about data privacy.
Concerns about being scammed significantly increase with age. Consumers over age 55 are twice as likely to be concerned about scams or fraud than consumers aged 18 to 29.
As social shopping only continues to grow, and bigger brands likely win over older customers through brand familiarity and reputation, these levels of trust may evolve as well. Put shoppers at ease now by implementing robust security measures, such as verified purchase badges, secure payment options, and transparent data policies. Clearly communicating your security policies can gain your brand a competitive edge.
Today’s brands must not only meet consumers where they spend their time, but also understand how they’re navigating this space. Optimize your social media presence for every stage of their shopping journeys with the right steps, including the following.
Incorporate paid and organic tactics in your social media marketing strategy, as both are crucial and complementary in reaching new customers.
Offer informative, compelling content on YouTube, TikTok, Instagram, and Facebook to reach younger consumers who are researching products on these platforms.
Maximize UGC and testimonials to increase social proof. Highlight content demonstrating the product in real life, and activate partners to share discount codes or affiliate links through their content.
Develop a robust referral program that encourages sharing among friends and family, as nothing beats word of mouth from one’s own social circle.
Clearly communicate your transparent data policies, secure payment options, verified purchase badges, and any other measures to reassure social shoppers about your product quality and attention to security.
For a PDF download version of this report: Download Now
Key Takeaways If you’re an online retailer, you already know the holiday season isn’t just “the biggest quarter” anymore....
Ask most retailers what their customers want and you’ll probably hear what their buyers want. On the Ecommerce Coffee...
With Delighted now a thing of the past, ecommerce teams find themselves on the hunt for effective post-purchase survey...
