Social media has growing influence in big-ticket purchases

The news: Social media is influencing consumers’ big-ticket purchase decisions as it moves beyond its traditional role as a discovery tool for consumers, recent studies show.

Travel planner: Sixty-five percent of travelers who planned a trip using social platforms made a purchase or visit decision based on the content they saw, per a March-April 2024 Phocuswright survey of 1,000 US consumers.

• Nearly two-thirds of travelers younger than 55 booked a trip based on social media content, as did 53% of travelers older than 55.