Australians are suckers when it comes to impulse purchases of products promoted on social media channels, according to a new Finder survey.
40 per cent of Australian buyers have made an impulse buy due to seeing a product on social media, with 28 per cent making one they’d later regret.
While peer pressure makes up 24 per cent of social media purchases, the majority of these impulse buys (56 per cent) were simply because it seemed like something the buyer would use.
21 per cent bought a product purely for aesthetic reasons, while 20 per cent of buyers liked or trusted the person doing the promotion.
As many people (55 per cent) were tempted via Instagram as Facebook, with 41 per cent buying via TikTok promotion.
Not surprisingly, it is Gen Z and Millennials who more readily succumb to impulse buying through social media, with 70 per cent and 59 per cent respectively having done so, compared to just 12 per cent of Baby Boomers.
“Targeted ads are becoming more strategic, making it that much easier for consumers to make quick impulse decisions.”
“Many Aussies are vocal about the things they love on social media – sharing their purchase experience every step of the way for others to engage and react.
“People are watching reviews in real time and experiencing others showcase products and items they love, making it hard to resist. This often lures followers to want the same things and be part of the conversation.”
Clothing and shoes (55 per cent) were the most likely to be bought on impulse, followed by cosmetics (41 per cent), hardware (20 per cent), books (20 per cent), sporting equipment (20 per cent), kitchen appliances (18 per cent) and toys (13 per cent).
