‘Social Shopping’ Costing Aussies $16bn A Year
A new era of “social shopping” is burning a hole in Aussie pockets, with the national bill totalling more than $16 billion a year.
Research commissioned by ING reveals “swipe to shop”, “click and collect” and “pay later” services on social media have made shopping easier and more impulsive than ever, with over a third of Australians (34 percent) admitting this has led to purchases they wouldn’t otherwise have made.
On average, Aussies are spending $860 apiece annually, with 3.2 million people admitting they buy something they see on their feed at least once a fortnight. One in five (20 percent) also admit they consider buying something on social media every time they scroll through their feed.
Facebook has taken the crown at 22 percent as the most popular social shopping platform, ahead of Instagram (nine percent), YouTube (nine percent), Snapchat (four percent) and Pinterest (four percent).