Social media plays an important role in influencing people especially the Millennials (born between 1981 and 2000), their purchasing decisions. According to research, by 2017, these consumers will have more spending power than any generation has ever had, but they shop differently, are hyper-social and endlessly curious about what other people are doing. As a savvy consumer, it is important to note that how social media influencing the purchase behaviour.
There followings are some statistics show how social media influences purchasing decisions:
- Consumers are 71% more likely to make a purchase based on social media referrals
- Out of 53% of consumers who said they use Twitter to recommend companies or products in their Tweets, 48% bought that product or service
- 15,100,000 consumers go to social media channels before making purchase decisions
- 74% of consumers rely on social networks to guide purchase decisions
- Facebook is the most effective platform to get consumers talking about products
- 79% of consumers like a Facebook company page because it offers discounts and incentives
- 32.5% of women say they’re influenced by special offers on Facebook vs 29% on Twitter
- 44% of social media savvy women said their trusted/favorite blogger influences their purchasing decision
- 91% of people have gone into a store because of an online experience
- 89% of consumers conduct their research using search engines
Check out the infographic below for some interesting facts:
As a savvy consumer, it is important for you to think carefully before you purchase any products. Although social media plays an important role in influencing people’s purchasing behaviour. But it is important for people to shop wisely and don’t buy products that you don’t actually need due to the good comments on the social networking sites.