One in three regular Snapchat users are willing to spend over £100 on their mobile, which is more than 74% compared to the average Brit. According to new research by Criteo, the commerce marketing company, the impact of social media on shopper loyalty and online purchasing may be larger than expected.
22% of 25-34 year-olds are happy to spend over £250 on their smartphone, according to the report. In addition, one in ten millennials are using their smartphones as a preferred device to shop for cars, clearly signalling a trend toward mCommerce growth in the future.
Indeed, Criteo reports that personalisation (138%), improved experiences (45%) and free goods (58%) are all driving millennials to shop on mobile. Brands are increasingly becoming more competitive and have launched social media and mobile campaigns to drive growth.
Interestingly, price is not the main factor for millennials, however freebies are a big swaying point. Meanwhile, aftercare was more important to those aged 55+ years.
Heavy social media usage is also having an effect on mobile shopping behaviours with 64% of people using social media platforms at least once a week having made a purchase on a smartphone (40%). A tenth of 18-34-year-olds would also prefer to book their flights using their mobile devices.
The findings signal a change in consumer behaviour and engagement. Brands need to be aware of this change to prepare for the future and exploit social media marketing channels more effectively.