With the holiday shopping season in full effect, it’s important for brands to understand the buying behavior of their target demographic. And, if that group contains Millennials and Gen-Z’ers, they should make sure they are visible on social media sites. Although they may be strapped for cash, Millennials plan to spend more than $200 on holiday shopping this year, and 22% of them will buy gifts that they see on Instagram and/or Facebook. In fact, this group of shoppers reports that their main source for gifting inspiration is social media (1).
Another important factor to keep in mind is that shoppers are less likely to do one-stop-shopping. They will bounce from social media, to the web, and back again before making a purchase (2). This illustrates the importance of brands having a social media presence and creating holiday shopping content that promote their deals.
Instagram’s “tap to shop” feature has certainly made holiday shopping on its social media platform as easy as it gets. Not only does Instagram allow brands to post photogenic content of their products, but shoppers can buy what they see with a simple click on their screen, a habit popular among Millenials and Gen-Z’ers. Brands will find this attractive because of the easy-to-understand analytics provided through the platform, as well as seamless remarketing capabilities (3).
From 2017 to 2018, Instagram saw a 73% increase in people using its platform for holiday shopping. This suggests further growth this year, and shows just how important it is for brands to have a social media presence during the Season of Giving (4). As Millennials and Gen-Z’ers age into the peak shopping demographic, companies must keep their preferred methods of purchasing in mind in order to see the best buying behaviors. This demographic values social media in terms of communication, and as consumers.