A recent study by Bazaarvoice found that relevance, price and product benefits are the top three drivers of brand choice on social.
The report revealed, with the pandemic impacting footfall traffic for physical stores, online store traffic has increased, especially through social media. Before the pandemic, 65% of customers preferred to shop in-store or buy directly from a brand's website (72%).
However, post-pandemic, 77% of customers prefer to buy directly from brand websites, while 54% prefer to shop on Instagram, followed by Facebook (38%), in-store only (27%) and TikTok (20%). 58% of those surveyed decreased their in-store shopping.
Consumers shopping “often” from social media increased by 164% compared to 29% in 2020. 75% of consumers “agree/strongly agree” to be influenced to shop for products via social. Beauty, health/wellness, food and beverages, electronics, and clothes are the types of products consumers are buying on social.
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