Millennials have emerged as the fastest-growing demographic for social commerce, surpassing Gen Z in overall purchases, according to research conducted by the Retail Technology Show (RTS). The study, which surveyed over 1,000 UK shoppers, revealed that Millennials are making more purchases than Gen Z across major social media platforms, including TikTok, Instagram, and Facebook.
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On average, Millennials made 21 purchases on TikTok in the past year, compared to 20 by Gen Z shoppers. Millennials also led on Facebook with 20 purchases versus Gen Z's 14, and outpaced Gen Z on Instagram with 19 purchases to their 18. Overall, Millennials' spending on social media platforms has grown significantly, with a 36% year-on-year increase in purchases on TikTok, Instagram, and Facebook.
The data indicated that Gen Z maintained a slight lead on Roblox, with 13 purchases compared to 12 by Millennials. However, the year-on-year growth rate for Roblox purchases was higher among Gen Z, at 44%.
Social commerce in the UK is projected to more than double by 2028, reaching an estimated £16 billion. TikTok has cemented its position as the leading platform for consumer purchases, with UK shoppers making an average of 11 purchases on the app in the past year, a 37.5% increase from the previous year. Instagram and Facebook trailed closely, with an average of 10 purchases per shopper on each platform.
RTS event director Matt Bradley commented on the findings, stating, 'The rise and rise of the social media channel has been well-charted, and it shows no signs of stopping. As shoppers' seemingly insatiable appetite for content-led commerce continues to grow, this has given rise to a new cohort of "TikTok made me buy it" consumers, an increasingly valuable shopper segment that retailers want to tap into.'
Bradley also noted that as social commerce expands beyond Gen Z, retailers must adapt their strategies to engage a broader demographic. He highlighted the importance of data-driven decision-making to optimise targeting and engagement, ensuring long-term success in the competitive social shopping landscape.
This shift in consumer behaviour underscores the growing influence of Millennials in the social commerce space and highlights the evolving opportunities for retailers to leverage platforms like TikTok, Instagram, and Facebook to reach a wider audience.
Source: www.retailgazette.co.uk