It’s official. We’re in the final stretch of the holiday season, and that means two things: the eggnog will soon be flowing, and you’re probably scrambling to finish shopping for presents.
Fortunately, while holiday shopping has previously meant fighting through crazy mall crowds or scouring the Internet for the best deals, over the past year or two, a new lane has opened up in the world of shopping. That lane is social media.
PayPal Canada recently released their inaugural Social Commerce Trend Study, showing that nearly half of social media-using Canadians have already made purchases on social media platforms and almost 40% say they’ll shop for the holidays using social media.
At first glance, it’s surprising to find out that while scrolling through food, fashion or travel photos on Instagram, half of us are also shopping. But really, it shouldn’t be much of a surprise. After all, Canadians spend several hours on social media every day. These networks know what we like and retailers now capitalize on that sentiment to show us relevant product recommendations, and serving up items we may like based on our preferences for items online or on social feeds.
Alexandra Gater (@alexandragater), a Toronto-based YouTube content creator says she’s inspired by small companies who make beautiful, one of a kind, handmade items. “It’s these kinds of products that always make the best gifts, in my opinion. Shopping through social media you find out about their story, it allows you to feel connected to them, which makes the purchase that much more meaningful. You’re seeing their art and their lives in front of you, and you’re able to help their business grow,” added Gater.
"A few years back, people could browse on social media platforms but that’s as far as you could go. Today, ‘Buy Now’ buttons are a reality and allow people to shop when they are scrolling through social media platforms—making it a popular commerce trend,” said Paul Parisi, President of PayPal Canada.
Canadians spend an average of $77 per month (nearly $1,000 per year!) shopping through social media platforms, with most of that money going towards electronics, home decor, event tickets, and of course, clothing, shoes, and accessories. With the holidays quickly approaching, 46 per cent say they’re more likely to shop through social media this year. Clearly, social media shopping isn’t just a fad. It’s completely changing the way we shop for ourselves and for our loved ones.
With that much money being spent, security is equal to convenience when it comes to social shopping. Because shopping on social media removes the digital middleman (typically, shopping directly from a company website), it’s critical for shoppers to feel comfortable entering their credit card information to make purchases. Where social media makes it easy to research and shop online, services like PayPal make it more secure than ever before to shop with confidence. Whether you’re a business owner or a shopper, knowing that payments are completely secure gives you the confidence to sell and buy via social media.
This holiday season, PayPal is encouraging you to Give Better. They’ve teamed up with popular brands and small businesses to help you find thoughtful gifts from businesses that give back. Check out paypal.ca/givebetter.
Now that you’re ready to wrap up your shopping and put a bow on your presents, there’s only one thing left to do: put on your comfiest pajamas and enjoy some eggnog with your friends and family. Happy holidays!
