Date Posted: Monday 15th March 2021
Mastercard has revealed the results of research conducted into how Brits have discovered new ways to shop on social media during the pandemic. The research showed that 43% of those surveyed increased their spending on social media in 2020 compared to previous years. Shopping for clothes and fashion made up 41% of purchases through social media, followed by beauty at 24% and homeware at 23%.
The majority of people, at 92%, said that they bought items via Instagram, followed by Facebook at 39%, YouTube at 22% and TikTik at 20%.
Younger people have been driving these spending trends, however, 54 % of over 55s have admitted to buying more socially, due to using social media more during lockdown with 25 % of their purchases going towards technology products. In addition to fashion, beauty and homeware, technology, sports and food were also popular purchase choices.
The research also shows how influencers and tailored ads are a big part of the social shopping experience and driving sales. Nearly a quarter (24%) of Gen Z enjoy their favourite influencers linking products directly to buy, saving on browsing time. Similarly, 18 % of Brits favour shopping on social media due to targeted ad’s and sponsored posts.
Supporting small business is also a key driver for this growing trend, with 35 % of Brits purchasing from newly discovered independent brands and businesses when shopping through social media in 2020. The research found that almost a third (29%) of people in the North say they are interested in continuing to support independent brands and businesses they have previously shopped from.
For further information regarding this report please contact Mastercard.
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