UK shopping via social media surges by 32% since 2022, report suggests
29 July 2024, 11:44
Despite the jump, less than one third of businesses use social media platforms to sell their products, the study found.
Shopping in the UK via social media has seen a 32% surge since 2022, despite less than one third of businesses using the platforms to sell their products, according to a report.
Consumers aged between 16 and 26 were the most active buyers, with 68% shopping on social media sites over the past year – a 40% increase on 2022, financial technology platform Adyen found.
For this generation, TikTok Shop was by far the most popular channel, used by 71% of those who used social platforms to shop, followed by Instagram (35%) and Facebook Marketplace (25%).
Some 9% of Britons who shopped on social platforms did so for the first time over the last 12 months.
Overall, Facebook Marketplace leads as the preferred option (50%), followed by TikTok Shop (45%) and Instagram (33%).
However, all age demographics reported growth in social media spending.
Just over one in 10 of those aged between 59 and 77 (12%) used social platforms to shop over the last 12 months, increasing by 36% on 2022.
For this group, 73% of those who used social platforms to shop turned to Facebook Marketplace, while TikTok Shop and Instagram each picked up 17% of these consumers.
The poll of 2,000 UK consumers found that social media shoppers purchased from platforms on average four times a month – lower than users in the US (five times a month), and behind Hong Kongers (seven times a month).
The average value of a transaction in the UK was £117.81.
However, Adyen found that nearly one in five people (17%) will not use social media to buy because they are worried about fraudulent activity on the platforms.
Despite the increase in activity across platforms, just 29% of businesses said they currently use social media as a sales channel, with 71% of these retailers reporting improved revenue as a result.
In the UK, the highest use of social commerce was among sports and outdoor goods (49%), home improvements, home furnishings, garden supplies, or pet supplies (30%), and clothing and accessories (28%).
Adyen managing director Nicole Olbe said: “The growth of social commerce has been incredibly impressive, and the platforms are offering a significant opportunity for businesses – with one in 10 people purchasing an item for the first time last year.
“Social media is an exciting place to be, offering a source of inspiration for sellers and buyers alike.
“As the channels continue to grow, offering seamless payment journeys will become increasingly important to stand out in a crowded, dynamic market. Our research found that the majority of people (54%) will leave a checkout if they can’t pay how they want.”
The increase in social platform spending will pile more pressure on high street retailers, and comes as recent British Retail Consortium figures showed total UK shopper footfall was down 2.3% year on year in June, while high street footfall specifically was down 3.1%.
Online-only brands such as Shein, which has a significant presence across social media platforms, including widespread use of influencers, have boomed in popularity in recent years.
Shein, which also owns the Missguided brand in the UK, recorded sales of £1.1 billion in its UK operation in 2022, according to its most recent set of accounts.
Censuswide surveyed 2002 UK consumers between January 15 and 29.
