EqualOcean reports that a recent survey by payment technology company Adyen reveals that 65% of Brazilians are accustomed to shopping online via social media.
Despite only 29% of retailers offering social e-commerce shopping options, the survey shows that digital media is capturing an increasing share of the retail market, especially among younger generations, with a growing proportion using this shopping method.
According to Adyen's "2024 Retail Report," Generation Z (ages 16-26) and Millennials (ages 27-42) are the primary users of social e-commerce, with usage rates of 72%. The data indicates that 61% of respondents prefer using Instagram for online shopping, followed by Facebook at 52%, and TikTok at 19%.
Renato Migliacci, Vice President of Sales at Adyen Brazil, explains that advertisements on social networks are based on consumer behavior data, making them more targeted. Thus, the way products and services are presented aligns better with each consumer's actual preferences and habits. Migliacci states, "The companies that best utilize this advantage are those that can segment the market well and offer a seamless, secure shopping experience through these channels." As social networks are increasingly used for online shopping, the retail market has gained opportunities to expand its business.
Adyen's research also shows that 84% of retailers use social e-commerce as a method to expand their sales, leading to increased revenues. Currently, the industries most adopting this sales model are electronics retail (38%), beauty and health (33%), and various other products (36%).