Social media has a great influence on customers' buying decisions!

Social media has a significant impact on our daily lives as it has reached beyond connection and has a great impact on purchasing behaviour. Currently, many people check social media platforms for guidance before buying any products. This proves that it has an immense influence on consumer purchasing behaviour. Social media has changed the way advertising and influencer promotions expose us to new products. Moreover, with the penetration of the Internet and e-commerce websites, social media platforms have witnessed tremendous popularity. According to the International Telecommunication Union, around 5.4 billion people – or 67% of the world’s population – are using the Internet in 2023. This shows an increase of 45% since 2018, with 1.7 billion people projected to have come online during that period.

Additionally, factors such as ratings, reviews, recommendations, and promotional videos have highly influenced people’s buying decisions. Consumers are checking for social proof to learn about others' experiences before purchasing any products. Recent surveys show that many customers read online reviews before buying any products. Apart from reviews, user recommendations and demonstrations on social media also play a significant role in the overall customer buying behaviour. Recent studies have revealed that Gen Z and millennials are highly prone to buying products after seeing positive recommendations and reviews.

The strong growth of the social media market has augmented influencer marketing in a positive direction and is expected to shape the market dynamic in the near future. In this digital world, social media engagement is very high for Gen Z and they use social media for over 2 hours daily on average. They mostly buy beauty and fashion products based on influencer recommendations. Now, brands are teaming up with the right influencers who appeal to their target audience to increase their reach and foster revenue. It is anticipated that with the rise of social media platforms, influencer marketing will gain immense growth as it is an effective way of attracting customers.

https://www.itu.int/en/ITU-D/Statistics/Pages/stat/default.aspx

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