Millennials are indulging in impulse shopping more than ever

Date:
Mon, 16 Dec 2024 12:00:00 +0000

Description:
Younger buyers are impulse buying through social media like TikTok, Facebook
and Instagram, but theyre still hesitant.

FULL STORY

Millennials and Gen Z are making more impulse buys than older buyers, and
lower-cost items are emerging as their preferences, new research has claimed. 

Social media-based shopping and weekly purchases also emerged as common
traits, highlighting the scale of ecommerce among younger citizens, however
their choice of platforms distinguishes Millennials from Gen Z shoppers, a
report from GoDaddy has suggested. 

To put it into perspective, one in five (21%) Millennial and Gen Z shoppers
make several purchases each week on social media, with more than half of each
age group shopping at least monthly.

Younger shoppers are impulse buyers 

Alarmingly, only one in 10 (9% of Gen Z and 12% of Millennials) plan their
purchases in advance, which shows us how powerful advertising can be and how
reactive younger buyers are. Categories like clothing (37%), food (22%) and
electronics (10%) were among the most popular. 

There is still some hesitation, though. For example, 44% of Gen Z and 38% of
Millennials wont spend more than $50 when buying on social media. 

In terms of preferred platform, theres a clear divide between older and
younger buyers, with more than half (52%) of Millennials buying from Facebook
in the past three months, compared with 31% of Gen Z. On the flip size, 52% 
of Gen Z have bought from TikTok, with only 37% of Millennials trusting the
platform for their purchases. Instagram was the second-most popular platform
for both age groups. 

The reason many buyers still choose not to spend their money on social media
platforms is a lack of trust about a businesss legitimacy. Shipping concerns,
high costs or long delivery times also put buyers off. 

Small businesses that have convenient, shoppable posts directly within a
social platform will be a step ahead of the competition," noted GoDaddy 
Trends Expert Amy Jennette. "Entrepreneurs need more than a social profile,
otherwise they're leaving money on the table."

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Link to news story:
https://www.techradar.com/pro/millennials-are-indulging-in-impulse-shopping-mo
re-than-ever
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