Key stat: In the US, 71% of Gen Z adults say they are likely to make a purchase directly via Instagram, according to Jungle Scout. Just 40% of adults overall say the same, with the caveat that older generations are less likely to buy from social networks in general.
Beyond the chart:
- Despite these findings, Meta is moving away from social commerce, investing instead in its ad business on Reels to boost revenues.
- But TikTok is all in, with plans to quadruple its global ecommerce sales to $20 billion per year via TikTok Shop.
- Adults below the age of 25 will spend an average of 20 more minutes per day with TikTok than with Instagram, for a total of 58 minutes daily this year, according to our forecast.
Use this chart:
- Allocate social media ad spend.
- Strategize how to reach Gen Z.
- Evaluate retail partnerships with social networks.
More like this:
More Chart of the Day:
Methodology: Data is from the March 2023 Jungle Scout "Consumer Trends Report: Q1 2023." 1,000+ US adults ages 18+ were surveyed online during February 8-9, 2023. Respondents represented 48 US states, all genders, and ages, as well as all employment types and varying income levels.
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