Instagram and Facebook Forecast as Popular Platforms for Gift Purchases
- Gen Z more likely to buy holiday gifts via social media according to a report
- 48% of Gen Z shoppers planned to purchase some holiday goods via social media platforms last year
- 55% of Gen Z consumers bought items online while browsing social media in the past six months
- Mobile shopping increased by 10.2% YoY, reaching $280.4 billion
- Social commerce sales in the U.S. expected to reach $82.82 billion this year
- TikTok Shop debuted in the U.S. last September for social commerce
- Shopify and YouTube expanded their partnership for social commerce
A recent report reveals that Gen Z is leading the charge in social commerce, with a significant portion of this generation planning to buy holiday gifts through social media platforms. According to a Shopify and Gallup survey, 48% of Gen Z shoppers intended to purchase some of their holiday items via social media last year. A Walmart and Morning Consult survey found that 55% of Gen Z consumers bought products online while browsing social media in the past six months. The rise in mobile shopping has also been notable, with a 10.2% increase in sales through mobile devices from January to July, reaching $280.4 billion. EMarketer predicts that U.S. social commerce sales will reach $82.82 billion this year, accounting for 6.6% of total e-commerce sales. To tap into the market, TikTok Shop launched in the U.S. last September, while Shopify and YouTube expanded their partnership to support social commerce efforts.
Image Credits: no
Factuality Level: 8
Factuality Justification: The article provides relevant information about the rise of social commerce and its relation to Gen Z consumers, citing various surveys and statistics. It also mentions specific platforms like TikTok Shop and YouTube’s partnership with Shopify. However, it lacks a clear main topic or thesis statement, making it slightly less focused.
Noise Level: 3
Noise Justification: The article provides relevant information about the rise of social commerce and Gen Z’s influence on it, but it lacks a deeper analysis or exploration of long-term trends and consequences. It also does not offer much in terms of actionable insights or new knowledge.
Financial Relevance: Yes
Financial Markets Impacted: Social commerce market
Financial Rating Justification: The article discusses the rise of social commerce, which impacts financial markets through changes in consumer behavior and the growth of e-commerce sales.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event happening in the last 48 hours.
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