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Consumers Lean on Social Not Just for Purchases, but Search Too

By Rimma Kats
March 8, 2024
in Analysts Coverage, Emerging Payments, Social Commerce
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eCommerce On Social Media, social commerce, ICICI Bank Social Media Money Transfers, SwayPay online checkout

How Brands Need To Navigate eCommerce On Social Media

Social commerce is reaching new levels as more consumers turn to platforms like Instagram and TikTok for their shopping needs. Recent data reveals that consumers are also relying on social media to discover local stores for in-person shopping.

According to SOCi, Instagram and TikTok have surpassed Google as the top business search platforms, particularly among Gen Z consumers. Instagram leads the way among users ages 18 to 24, while TikTok closely follows, preferred by 62% of younger consumers for search.

However, among older consumers, Google remains the primary search platform, maintaining its status as  “the undisputed search champion.

“A seismic shift is reshaping how consumers find local businesses,” said Damian Rollison, Director of Market Insights at SOCi. “The old guard of search engines is being challenged as younger shoppers turn to Instagram and TikTok for search and discovery. For businesses, a robust presence on these platforms isn’t just beneficial – it’s critical to winning market share with younger consumers.”

Social Shopping

Social commerce is transforming the relationship between businesses and the customer they serve. Unlike other shopping channels, social commerce offers consumers an unprecedented measure of convenience, speed, and security in progressing from interest to purchase.

Social shopping played a significant role this past holiday season, according to data from ESW, which revealed that TikTok has become a top discovery resource across all generations. More than a third expressed plans to use the social channel for their holiday inspirations. ESW also found that younger consumers were more likely to leverage social media than their older cohorts, but interestingly, 16% of respondents ages 40 to 60 said they planned to buy gifts from TikTok, while just half of younger respondents ages 18 to 29 agreed.

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Tags: ESWInstagramSOCiSocial ShoppingTikTok

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