The lifestyle shift towards digital media has brought our identity into the realm of social media. The pervasive nature of social media should not be taken lightly. Personal expression begins and ends with it. This change has attracted shoppers away from physical stores and towards online websites.
Social media is a gold mine for brands; eyes and fingers are glued to the screen and they keep scrolling endlessly. Brands have studied this behavior and leveraged it to gain more visibility. With the personal approach of social media, consumers willingly spend more on items they see on their social media feed. A new study conducted by Talker Research confirmed this, which revealed that US adults may spend up to billions on items seen on social media. Let’s see why social media is slowly becoming popular for buyers.
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Facility
Social media has revolutionised shopping, making it an easier experience. It has brought brands and consumers closer than ever before. Since people spend a large part of their day on social media, brands have taken advantage of this by establishing their presence there and putting their business directly in front of consumers. The main strength of social media lies in its interactive and audio-visual nature, which is different from other forms of media. Influencers trusted by users can showcase products through engaging demos or reviews, giving them an idea of how they work. Social media serves as a hub for attractive deals and promotions, attracting price and value-conscious users. And most importantly, the convenience of online shopping eliminates the hassle of visiting stores, saving time.
FOMO
Fear of missing out (FOMO) is a characteristic of social media. The interconnectedness of social media leads to a feeling of missing out and a compulsive habit of staying connected all the time. FOMO is driven by the perceived anxiety of missing out on rewarding opportunities. When someone else achieves a desired opportunity, jealousy grows, driven by the ‘fear of missing out’.
Similarly, FOMO is embedded in the framework of social media ads. FOMO-driven ads foster insecurity when users see the advertised item being used by their friends and family. The social media environment is designed to provoke FOMO, with other users often raving in comment sections, reviews, and ratings.
Privatization
Personalisation has helped social media gain an edge over other forms of media. Through micro-targeting, products relevant to users appear on their feeds. Recommendations on social media are based on user interactions. This fuels the user’s imagination, recommending whatever they want the most, enticing an immediate purchase. This creates impulsive buying habits, as whatever appears on the feed is relevant and desired.
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product awareness
When you interact with a product, you are more likely to see it again thanks to social media’s retargeting feature. Through repeated exposure, product familiarity grows on the user and ultimately cements their purchase decision. Social media plays a vital role in every stage of product awareness – from initial search to reviews. The tone of the discussion about a product on social media can greatly influence whether or not a purchase is made.
a rumor
Family and friends serve as conduits for social influence, which affects purchase decisions. When a product seen on social media is validated by family and friends, it positively affects the purchase decision. Influencers are also important for purchase decisions; however, their influence depends on genuine reviews. Social media users are generally wary of sponsored content and often respond with less enthusiasm.
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