Social media has influence over consumerism
With the presence that social networks and social media have in our lives, it is difficult not to be influenced by the information that we are inundated with day in and day out. As a result, these mediums have had an influence on consumerism.
eMarketer recently published statistics of a poll conducted by PWC. The poll examined 22,618 digital buyers aged 18 and older. The requirement for participation was that the responder must have shopped online at least once within the last year.
What influences the online customer?
What the study found was the different aspects that influences a customer’s purchase. Some of the influences included: reading reviews, comments, and feedback, viewing ads, and purchasing products directly via a social media channel.
The influences were as follows: 45 percent were influenced by reading reviews, comments, and feedback, 44 percent were influenced by receiving promotional offerings, 30 percent were influenced by viewing ads, 25 percent were influenced by staying on top of current fashion and product trends, 22 percent were influenced by writing comments, reviews, and feedback, 20 percent were influenced by associating with particular brands or retailers, and 16 percent were influenced by purchasing products directly via a social media channel.
Consumers’ adoption of buy button option
It was unclear whether or not certain social media channels held a title of influence over others. However, buy buttons, available on certain channels, were surveyed by marketing firm Campaigner.
Adoption of buy buttons among United States retailers in 2015 were as follows: 27.1 percent for email buy button, 22 percent for Facebook buy button, 6.8 percent for Google buy button, 5.9 percent for both Pinterest and Twitter buy buttons, and 1.7 percent for Instagram buy button.
The platforms’ possible effect on retail
In addition to virtually every retailer having an online component that consumers can purchase from, social media has changed the landscape of consumerism. For example, Pinterest exists as a way to inspire and give ideas to users. The website then, usually, automatically links to where users can purchase items – whether it be clothing or a DIY project.
A similar but different aspect is found within Twitter and Instagram. These platforms give users access to thousands of different lifestyles, many being of the rich and famous. This could be a potential motivator for consumers seeking certain items through Internet-based retail.
Neither the PWC or Campaigner studies offered predictions for retail in 2016.