#GenZ ✨ is a generation that engages heavily in #doomscrolling 🤯 or obsessive phone use that ultimately creates unwanted spiraling 🌀 based on excessive searching and reading online. They’re also 32% more likely to purchase something at least once a day online 💻. On top of these habits, whether healthy or unhealthy (totally up to the individual), 85% of Gen-Zers say social media impacts their purchase behaviors 🛍 . But who’s to say these social channels can’t operate as their own shoppable platforms? According to an article from Bloomberg last week (https://lnkd.in/e57trKuF), Pinterest’s revenue beat its estimates in response to its push to convert users into shoppers through its app 📈 . (ICYMI: Pinterest and Amazon recently teamed up for an advertising partnership that would enable its users to more easily shop through the site and purchase things they pin on their boards 📌.) In the current quarter, Pinterest reported monthly users and revenue increased 8% Y-o-Y. Interest in shoppable posts jumped by 50% in Q2 as well 😱. Although #shoppablecontent isn’t new, especially as we’ve seen tremendous growth 💰 from the likes of Meta, TikTok (ByteDance) and YouTube, the way users are shopping has changed. Sam's Club recently announced that customers can now add products to their online carts 🛒 directly from its Member Access Platform (or MAP) retail media network which uses AI technology to target specific display ads to consumers based on their shopping habits at the retailer. Roku Inc. also debuted its alliance with Shopify 🤝 for shoppable content which enables users to use their own remote controls to learn more about products they see on screen and purchase directly through their TVs 📺 without additional browsing. The only way for these platforms to make shopping more seamless would be if they offered the opportunity to 3D print products through our screens. Only time will tell... ⏳ What developments are you most excited about in the world of shoppable content? Let us know below ⬇. Beanstalk’s #CulturalIntelligence stays #OneStepAhead. Stay tuned for weekly insights about what’s hot 🔥 across industry, consumer and product segments. Want to learn about what’s trending and how to leverage those trends for your business? Reach out to Todd Kaufman ([email protected]) or Whitney Rosenfeld ([email protected]) to learn more about how you could get started with bespoke trend reports.
