Around 40% of Canadians are going to shop on social media in 2020, according to a study by PayPal.
The report found that 47% of people in Canada are already using social platforms to browse and buy products. The average spend per customer was $924 per year.
“A few years back, people could browse on social media platforms but that’s as far as you could go. Today, ‘Buy Now’ buttons are a reality and allow people to shop when they are scrolling through social media platforms – making it a popular commerce trend,” said Paul Parisi, President of PayPal Canada.
Parisi’s point is supported by recent evidence from eMarketer which found that social media use among eCommerce retailers in North America almost doubled to 33% in 2018 (from 17% in 2017).
It appears that a growing number of shoppers are taking advantage of shopping integrations on apps and websites such as Instagram, Facebook, Pinterest and Snapchat.
And with the average Canadian social media user spending 6.4 hours on networks per day, it’s hardly a surprise that spending on the platforms is increasing.
A majority (78%) said they enjoyed being shown product recommendations on social media because these allow them to discover products they wouldn’t have found otherwise.
Among social media users, men tend to shop more (33%) than women (26%) on a monthly basis. Items they are most interested in include fashion (54%), electronics (26%), toys and games (21%), home décor (20%) and tickets (19%).
But 52% also admitted to making impulse purchases on social media, highlighting the significant opportunity for brands and advertisers to reach potential shoppers on social networks.
Facebook emerged as the most frequently used network for shopping (29%), followed by Snapchat (26%) and Instagram (25%).
When it comes to moments, 42% of Canadians have made purchases whilst commuting and 32% shopped during a meeting at work.
Around 41% of the 1,825 survey respondents said they followed influencers on social media for recommendations and 62% found they were more inspired by social media gift recommendations than those they saw in store.
PayPal stood out as a payment method with 70% preferring the online payment service compared to credit cards (54%) or debit cards (43%).