Technology

Three in five British regret that social media has affected spending

Facebook has been selected as the most influential social media platform for British buying habits, and new research has been discovered.

FCA-regulated credit broker Little-Loans.com survey data has opened the door to how social media influences UK buying habits and helps companies market.

A nationally representative survey of 2,000 British people found that Facebook was the most-selling social media platform.

Participants elaborated on which social media spaces led them to shop most often, and chose the following in order of popularity:

  1. Facebook
  2. Instagram
  3. Youtube
  4. twitter
  5. Ticktaku
  6. Pinterest

Gen-Z is different from the top choice in the United States, citing Instagram as the biggest influence on spending.

Whether via advertising, influencers or peers, the British spent an average of £ 148.40 on products and services they saw on social media apps and websites.

35-44 years old are the largest social media consumers, spending an average of £ 179.20. It turns out that men spend more than women: £ 161.60 compared to £ 133.50 each.

However, 60% of British people confess that they regret multiple items purchased from the platform, and one in five admits that they regret “many times” after purchase.

Little-Loans.com also analyzed search data to rank the most popular items purchased as a result of TikTok over the past year. The top items are:

TikTok leggings

TikTok Feta Pasta

TikTok Ramen

TikTok Starbucks Secret Menu Item

TikTok lights (LED and sunset)

Tik Tok rap

TikTok cloud wall

TikTok Books

TikTok phone case

TikTok rice cake

Harry Lawrance, a digital marketing expert at Little-Loans.com, said of the data: “Social media is an undeniably influential marketing tool in this era. Even if you’re paying to advertise on your user face, if you’re creating content that organically attracts your customers. But the possibilities are endless.

“It’s interesting that Facebook continues to be the most influential social media platform for shopping habits, especially in the early days of the TikTok era, although demographics aged 35-44 include the largest spenders. Given that, the results are summed.

“Given that 60% of British people regret buying on social media, it’s important to show corporate expertise and product credibility. The impact of social media can grow over time. It’s possible, but customers can be more cynical about the product based on their poor past experience. “

Harry’s tips for harnessing the power of TikTok to drive your business are attached.

Little-Loans.com conducted data to discover how British people are affected by social media. Little-Loans.com is a loan comparison website that allows users to compare small loans from over 40 lenders to ensure the lowest possible APR.

Are you interested in hearing major global brands discuss these themes directly? Please look at the details Digital Marketing World Forum (#DMWF) Europe, London, North America, and Singapore.

tag: Influencer marketing, Social media, Spending

https://www.marketingtechnews.net/news/2022/may/11/3-in-5-brits-regret-their-social-media-influenced-spending/ Three in five British regret that social media has affected spending

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