Survey: More than four in 10 Gen Z and Millennial consumers buy something on Pinterest Shopping at least once a month

PARIS, March 9 — More than four in ten Generation Z and Millennial consumers make a purchase via Pinterest Shopping at least once a month, according to a GlobalData survey. This trend illustrates the rise of social media shopping, a particularly effective strategy for reaching younger generations.

The survey, conducted among a sample of 21,000 users in December 2023, reveals that more than four in ten Generation Z and Millennial consumers make a purchase via Pinterest Shopping at least once a month, highlighting the inspiration social networks can offer when it comes to driving purchases. Pinterest Shopping is a feature implemented on the app to help businesses sell their items directly on the platform.

Pinterest’s strategy to develop online shopping seems to be paying off. The platform has even launched its own streaming show. This ten-episode series allows viewers to purchase products seen onscreen. “Deliciously Entertaining” features an influential host and celebrity guests who each bring an ingredient to incorporate into recipes. During each episode, viewers can scan an onscreen QR code that redirects them to Pinterest, enabling them to purchase the products needed to recreate the featured recipes, as well as tutorials. And this is a good way to boost the momentum of social media shopping, according to GlobalData.

Katrina Diamonon, principal analysis, consumer team at GlobalData, comments: “The merging of social media and shopping is an inevitable trend fuelled by the sheer amount of time consumers spend on social media. It allows brands to reach a community of people who share similar interests and are actively engaged, making it a prime platform for product discovery.”

The analyst continues: “Not only do younger generations value the fun and inspirational shopping experience afforded by social commerce; they are also able to fulfil their need for immediate gratification. In-app shopping platforms enable users to seamlessly transition from browsing to shopping in one frictionless journey.”

Yet there are still a number of reasons why shoppers may be reluctant to use social media in this way, not least security. According to GlobalData’s survey, 45 per cent of consumers say they do not want to share their credit card details with social media sites, while 42 per cent fear that payment security is not as secure on social media as on other sites.

“The future of shoppable channels will depend greatly on the ability of companies to provide transparency around data usage and data protection assurances,” Katrina Diamonon adds.

Pinterest’s latest foray into shoppable content follows other social media platforms that have also explored this territory, including TikTok and Meta.

“While social media certainly has some data privacy obstacles to contend with, it nonetheless represents a new era of online shopping that transforms the act of purchasing into a highly immersive, uniquely entertaining, and seemingly more authentic experience,” the Global Data analyst concludes. According to data reported by Social Shepherd, users spend over 25 per cent of their time on Pinterest shopping. And, according to the platform itself, users are willing to spend 40 per cent more per month than users of other platforms. — ETX Studio