5 SOCIAL MEDIA SHOPPING TREND TO BUY IN 2024

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According to research from Meta, insights on social media shopping trends that businesses need to pay attention to in the year of 2024

THE INCREASING INFLUENCE OF GEN Z IN SHOPPING TRENDS ON SOCIAL MEDIA PLATFORMS

The annual SYNC report conducted by Meta shows that Gen Z will be a highly influential segment, especially in Southeast Asia, where young people have a lifestyle closely tied to technology and digital devices. In fact, 82% of survey participants reported that they are involved in online communities.

Currently, the Asia-Pacific region has over 500 million people from Gen Z. It is estimated that by 2025, this group will account for a quarter of the region’s population.

THE TREND OF FAMILIES WITH FEWER MEMBERS OR SINGLE-MEMBER HOUSEHOLDS IS BECOMING INCREASINGLY COMMON.

According to research reports, the trend of smaller or single-member households is becoming increasingly popular, with three Southeast Asian countries leading the shift towards single-person households.

In Vietnam, small households and single-person households are the fastest-growing groups, with a compound annual growth rate of 1.1%. This trend is driving the increase in disposable products, household appliances, and small-sized items. In addition, single consumers often tend to spend more time on personal electronic devices and social media, participating in online communities and following content creators.

THE REMARKABLE DEVELOPMENT OF AI

According to the report, 45% of consumers frequently shop on e-commerce platforms after seeing information on Facebook/Tiktok/Instagram, and 20% of consumers make purchases directly on Facebook.

In addition, AI also contributes to enhance advertising performance as Meta’s platforms use AI to boost automation features for advertisers. Thanks to the use of advanced AI technology, Meta will take all resources to help boost business efficiency for companies in 2024.

THE PERCENTAGE OF PEOPLE USING MESSAGING TO CONDUCT BUSINESS ACTIVITIES.

Research from Boston Consulting Group (BCG) and Meta shows that for every 3 Vietnamese consumers, at least 1 person messages a business at least once a week.

In addition, Vietnam is among the countries with the highest rate of conversational commerce usage, with up to 73% of survey participants using this feature to interact with businesses. According to reports from advertisers, conversational business solutions help increase the order value by 22%, deliver higher effectiveness compared to traditional channels such as SMS, email, or other applications.

SHORT VIDEO FORMATS LIKE REELS ARE BECOMING INCREASINGLY POPULAR.

A report from Meta and Factworks shows that the Millennial generation engages with the Reels feature, while the percentage of Gen Z individuals who follow business activities on digital platforms, tag brands or products in posts, and purchase products after watching Reels is higher.

At the same time, content from creators on Reels also influences how Vietnamese consumers shop. 67% of survey participants reported that they discover suitable brands and products from content creators on Meta’s platforms at least weekly, which is about 20% higher than on other platforms.

Theo Vneconomy

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