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On social media, younger shoppers are far more likely to trust brands and influencers, while older shoppers prefer retailers. Just 9% of baby boomers worldwide follow and buy from accounts run by influencers, compared with more than 40% of Gen Zers and millennials.
Beyond the chart: As Gen Z increasingly enters adulthood and rises in spending power, marketing dollars will flow toward the channels where these younger buyers shop.
This push for youthful engagement is clear in the US, where influencer marketing spend will grow by 27.8% to $4.99 billion this year, up from $3.90 billion in 2021, and continue to increase by double-digit rates through 2024, per our forecast.
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Methodology: Data is from an August 2022 Klarna report titled "Shopping Pulse" conducted by Nepa. During Q2 2022, 14,114 adults ages 18+ in 13 countries (Australia, Austria, Belgium, Denmark, Finland, France, Germany, Ireland, the Netherlands, Norway, Sweden, the UK, and the US) were surveyed by Nepa. The research is conducted quarterly and always includes a minimum of 1,000 respondents in each country. The sample sizes are nationally representative, naturally including both Klarna users and non-Klarna users.