Report: How Social Media Influences American User Spending

October 23, 2024 Staff Writer

A recent survey by the financial technology company Chime sheds light on how social media platforms are reshaping consumer spending habits in the U.S. The research, which surveyed 2,000 American adults across various generations, reveals significant trends in social shopping, highlighting the extent to which platforms like Instagram and TikTok influence purchasing decisions.

According to the findings, Americans spend an average of three hours per day browsing products on social media, a behavior that often translates into actual purchases. Notably, 99% of respondents indicated that casual browsing typically leads to buying, with 12% stating that it always results in a purchase. Apparel emerged as the most frequently bought item on social media, accounting for 46% of purchases, followed by fashion accessories (30%) and tech gadgets (27%).

The survey also indicates that browsing often occurs during work hours, with peak purchasing times identified as Saturday afternoons around 2:36 PM. On average, respondents reported spending $168 on social media purchases over the past six months.

Generational differences in shopping behavior were also noted, with 17% of Gen Z consumers opting for personal care items on Mondays, while 24% of Gen X prefer shopping for home goods on Sundays. TikTok Shop is gaining traction, with 40% of respondents browsing the platform for entertaining content that could lead to purchases, while Facebook Marketplace remains the top choice for intentional buying.

It’s not a surprise that social media has become such a valuable sales funnel. Recent reports have shown that social shopping has pushed past regular e-commerce methods, and that brand accounts in particular are a key part of making sales. Given the sheer amount of money earned by TikTok’s China counterpart Douyin, it’s clear that this isn’t just limited to America – and that social media sales may only become more important as spending habits shift away from traditional e-commerce options.