The role of social media in e-commerce is growing, but millennials are still not clicking the buy button on these channels.
But they're still utilizing these platforms before they buy.
A new GlobalWebIndex study suggests that millennial shoppers use Facebook, Twitter, and the like to research products before they buy them. According to the study, 40% of global consumers ages 16 to 24 use social media to research products. And 30% of the general population use these platforms for product research before they buy.
The study gives a bit more context to the role of social media in the purchase funnel. Social platforms do not drive many direct orders as a referral channel, as a mere 1% of all e-commerce orders in 2015 occurred from a direct social media referral, according to Custora.
But if younger consumers continue to use social media to discover and research products, then brands and retailers must maintain strong presences on Facebook, Pinterest, Snapchat, and more.
For more, see the detailed report on social commerce from BI Intelligence.Click here to learn more about how you can gain risk-free access today.