$754 per person! American consumers often make impulse orders on social media!

According to a new study conducted by consumer financial services company Bankrate, Americans are prone to impulse buying on social media platforms. In the past 12 months, nearly half (48%) of Americans have made a purchase after seeing a product on a social media platform.

Research shows that in the past year, Americans made impulse purchases on social media platforms totaling $71 billion, with each purchaser spending an average of $754.

By age group, the younger generation is most likely to make impulse purchases on social media. According to a survey by Bankrate, 53% of millennials and 51% of Generation Z have made impulse purchases of products they saw on social media in the past year. In contrast, the proportions of Generation X and Baby Boomers are lower, at 34% and 25% respectively.

Among those who make impulse purchases on social media platforms, millennials have the highest average spending level, reaching $1,016, followed by Generation Z, who spend an average of $844, Generation X, who spend an average of $522, and baby boomers, who spend an average of $418.

When broken down by gender, men spent an average of $999 on impulse purchases inspired by social media in the past year, while women spent an average of $518.

Additionally, 68% of social buyers said they regretted impulse purchases, with more than half (57%) of impulse shoppers regretting at least one purchase.

Notably, one in five users (20%) have had a negative opinion of their own financial situation after seeing social media posts, such as influencers showing off their wealth. In addition, 9% of users said social media had a negative impact on how they manage their money.

Editor ✎ Nicole/

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