Consumers are gaining confidence in the idea that they could do nearly all of their shopping online. In a new report [sample], GfK found that more than half (52%) of US consumers believe they can shop online for almost 100% of the products or services they need, up from 48% feeling that way last year.
As online shopping continues to grow, particularly during the current pandemic, shopping via social media appears to be picking up steam. GfK’s survey shows that close to one-fifth of US consumers have shopped online either by using the “buy” button on social media (18%) or by clicking a shoppable post or story on a social network (16%). This is up from 13% and 12% of shoppers, respectively, who said the same in 2019.
While the report does note that the US is slightly below the global average when it comes to using the “buy” button and clicking on a shoppable post, US advertisers might be well-advised to target the youngest generation of shoppers for these social media shopping behaviors. Looking at results by age group, the report indicates that the share of 15-22-year-olds who engage in either of these shopping behaviors is about double that of the general population, with 37% using the “buy” button and 30% clicking on a shoppable post.
In the past, consumers were apprehensive about shopping via social media, mostly due to fears about security and privacy. In general, younger shoppers are the least likely to be worried about the security of their personal information when they shop online, with 45% expressing concern compared to 50% of Millennials and 66% of Gen X. They are also more likely than older generations to share news of their purchases on social media and review products online.
A sample of the US results from the study can be found here.
About the Data: Findings are based on the GfK FuturyBuyⓇ 2020, a January-March 2020 survey of 25 countries (n=1,000 per country).