Gen Z (consumers under 25 years old) are more likely to turn to social media than search engines when looking for products to buy. Millennials (ages 25-38) are following their lead.
It’s all part of the seismic shift that is occurring in what’s driving consumers to use social media. Over the past three years, the importance of visiting social sites for friendship-related reasons has declined. At the same time, the percentage of global consumers who are on social to find products to buy has increased from 23% to 30%.
Think about that. Almost one-third of consumers say a top reason they check social media is to research potential purchases.
What’s more, 30% of all North American online shoppers, and 51% of Millennials, believe that within the next 12 months they are likely to buy a product via their favorite social platform.
Instagram and Pinterest are leading the pack in social commerce because they are visually oriented and have strong shopping functionality. Snapchat is adding features to try to catch up, and Facebook continues to experiment with ways to sell on their platform.
Sources: Business2Community 2019, eMarketer 2019, Globalwebindex 2019, Hootsuite 2019, Nielsen 2018
So please…You’re creative. That’s why you considered the name “Brandology.” Use those creative juices to come up with another name that’s not already trademarked. Even though it will take some time, it will be fun, happy time — a stunning contrast to the time you’ll spend with Brandon if you try to use “Brandology.” Really. (It’s probably a little tacky to mention, but if you want our help naming your business, that’s something we do too.)