Millennials have overtaken Gen Z as the fastest growing demographic for social commerce purchases, according to new research by the Retail Technology Show (RTS).
The study, which surveyed over 1,000 UK shoppers, found that Millennials now make more purchases than Gen Z across social media platforms including TikTok, Instagram, and Facebook.
On average, Millennials made 21 purchases on TikTok in the past year, compared to 20 by Gen Z shoppers. Millennials also outspend Gen Z on Facebook (20 purchases versus 14) and Instagram (19 purchases versus 18).
The data found that Millennials’ social media spending has grown significantly, with purchases across TikTok, Instagram, and Facebook across the age demographic up 36% year-on-year.
Gen Z was slightly ahead of Millennials in terms of purchases on Roblox, with 13 purchases compared to 12, reflecting a 44% year-on-year increase.
-
Related Story
-
Social commerce in the UK expected to more than double by 2028, reaching nearly £16bn and TikTok has emerged as the top platform for consumer purchases.
RTS’s research found that overall, shoppers made an average of 11 purchases on TikTok in the past year, up 37.5% year-on-year. Instagram and Facebook followed closely, with 10 purchases on each platform on average.
RTS event director Matt Bradley said: “The rise and rise of the social media channel has been well-charted, and it shows no signs of stopping. As shoppers’ seemingly insatiable appetite for content-led commerce continues to grow, this has given rise to a new cohort of ‘TikTok made me buy it’ consumers, an increasingly valuable shopper segment that retailers want to tap into.
“However, with mass adoption and a wider demographic of consumers outside of just Gen Z now driving this growth, retailers will need to adapt how they engage and retain social shoppers, requiring data-led decision making in order to optimise targeting and engagement.”
Click here to sign up to Retail Gazette‘s free daily email newsletter
