The Influencer Marketing Factory recently surveyed 350 US Gen Z and millennial consumers.
The report found that 40% of Gen Z and Millennials bought at least one product while watching a live stream on social. Further, brand posts and influencer content on social media led 46% respondents to purchase at least once a month on social media platforms.
Apparel (41%) and Beauty (23%) were the most purchased categories on social media. To find about brands and services, Gen Z and Millennials rely on online research and social media ads. Both cohorts rated the importance of online reviews 7.85/10 on average. Instagram’s shopping experience was rated 5.3/10.
Social commerce consumers in the US increased 25.2% to 80.1 million in 2020 and the figure is projected to grow to 12.9% in 2021. The global social commerce market is expected to reach $604.5 billion by 2027.
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