Millennials: Social Media Influences Purchases
Seventy-two percent of 30- to 40-year-olds, known as Millennials, are influenced by social media when making purchasing decisions, according to a Creditcards.com survey. This age group crystallized as the most "susceptible" to social media influences.
Teenagers and people in their early 20s - Generation Z - follow with 66 percent. In third place are Generation X, the 40- to 60-year-olds, followed by the even older baby boomers with 45 percent.
Influencers not so high on the agenda
Millennials tend to trust posts from friends and family members, with this type of content influencing 38 percent of Millennials when shopping. Only 20 percent from this age group say they buy goods advertised by celebrities or influencers. But that doesn't mean Millennials ignore ads. In fact, ads are the second most influential type of social media content, influencing purchase decisions for 31 percent of Millennials.
In this context, Ana Staples of Creditcards.com warns against making impulse purchases based on social media posts. According to the financial advisor, everyone should always consider whether they really need the product they are about to buy based on a recommendation "to avoid bad wallet experiences." She speaks from experience on this, she said, "A few months ago, I kept buying books I saw on TikTok when I already had more books than I could read in months."
If in doubt, leave it alone
Anyone who buys directly via the respective platform runs the risk of falling for scammers. Staples therefore recommends finding out about the seller beforehand and taking into account reviews from others. If there are doubts or no information about the seller can be found, it is better to leave it alone. You should always consider whether a purchase fits into your personal budget and not be guided by the idea that you have to have what someone else has. She advises against going into debt, even though her company lives off it. (pte)
