Over the past years, social media platforms have become one of the top choices for brands and companies to sell their products and services. Today, 75% of Gen Zers and almost half of Millennials make purchasing decisions influenced by social media ads, while nearly one-third of all social media users head to social platforms to find products to buy. For most of them, Facebook is the number one choice.
According to data presented by OnlyAccounts.io, Facebook was the most popular social media platform for buying products in 2023, with an average 53% share in top markets.
The United States and Australia are the Top Two Markets for Facebook Shopping
With social commerce, brands, and businesses can quickly turn social media users into paying customers without leaving the social media space. Plus, they can communicate with them and build stronger brand awareness. While platforms like TikTok and Instagram have seen their user bases skyrocket over the past years, none of them is close to Facebook when talking about social commerce.
According to the 2023 Klarna survey, Facebook was the most popular social media platform for buying products worldwide this year, with an average 53% share in the top nine markets. Among the selected countries, the United States and Australia used Facebook the most for shopping, with 62% and 60% shares among respondents.
Instagram ranked as the second most popular social media platform for shopping, with an average 46% share in these markets. Unlike Facebook, Instagram was most used for shopping in Spain and Portugal, where it reached a 57% share among social media shoppers. YouTube ranked behind Instagram as the third most popular platform, with an average 42% share among the respondents in the nine markets. Statistics show roughly 33% of social media shoppers went to TikTok to buy products, ranking it as the fourth most popular platform for social commerce.
Millennials Shop on Facebook, while Gen Zers Choose Instagram and TikTok
The Klarna survey also showed that Facebook was the most popular social media platform to purchase products for all generations except for Gen Z, who preferred using Instagram. Gen Zers also used TikTok for social commerce, with nearly half using the platform for shopping. On the other hand, YouTube was the number one choice for Millennials, with 47% of them using its platform to buy products.
Analyzed by countries, Americans were the most likely to shop on social media, with 58% of respondents saying they had purchased a product after seeing it on the platform. That is almost 15% more than the shares of respondents in the United Kingdom and Germany who said the same. Finland and the Czech Republic were on the other side of the list, with a 29% share of social media shoppers.