The trend: The majority of US adults (57%) use social media as a source of information for product research, per Klarna.
More on this: The vast majority of consumers continue to rely on traditional sources such as Google (33%), product review sites (17%), Amazon (17%), or product pages (16%) as their initial source of product information.
Why it matters: Retail has become increasingly intertwined with social media. For example, Pinterest recently rolled out a host of social commerce features, including an in-app checkout tool.
The big takeaway: Gen Z already has an estimated collective buying power that is nearing $150 billion, per Barkley, even though roughly half of the cohort has yet to enter the full-time workforce.