State of social spending

Social “spend o’clock” occurs at 2:36 p.m. on a Saturday, according to new research.

A survey of 2,000 U.S. adults who shop on social media, split evenly by generation, found that Saturday around 2:30 p.m. is when you’re most likely to finally pull the trigger on that thing you saw on social media. 

Results found that while Saturday is the most optimal shopping day (42%), Friday didn’t fall far behind (41%). 

Gen X is more likely than any other generation to shop the “Sunday Scaries” away (24%), while Gen Z shops to rid themselves of the Monday blues (17%).

Regardless of generation, almost two-thirds (63%) admit to browsing products on social media during the workday, with millennials being particularly susceptible (72%).

The survey, conducted by Talker Research on behalf of Chime (https://www.chime.com) for their annual State of Social Spending report, explored Americans’ shopping and spending habits when it comes to social media channels. Results found that overall, Americans average browsing products for purchase on social media channels three times per week, though 18% admit to doing so every day of the week.

But still, respondents go to different channels for different purposes. According to the results, Americans head to Facebook Marketplace (49%), the Tik Tok Shop (41%), and Craigslist (11%) when they’re specifically looking to pull the trigger on a purchase.

But when they’re just browsing products or scrolling for entertainment (which may turn into a purchase), Facebook (32%) and Instagram (19%) top the list.

Interestingly, Americans feel twice as comfortable saving their credit or debit card information on a social media platform than they do on a brand’s website or app (45% vs 21%).

The survey also revealed that Americans average three hours of “window shopping” per day, and estimate that they have four different full carts across various retailers. 

The top reasons these carts remain full and unpurchased include waiting for the items to go on sale (45%), being indecisive (31%) or because they simply forgot about them (14%).

Only 1% of Americans say that “just browsing” “never” leads to making a purchase and many are most likely to pull the trigger in the afternoon (40%) or at night (39%).

In fact, Americans have spent an average of $168 on social media purchases just within the last six months. Almost three-quarters (74%) have purchased an item on social media within the last month. 

They’re most often purchasing clothing (46%), fashion accessories such as belts, hats or shoes (30%), tech gadgets such as phone chargers or projectors (27%) and makeup or beauty products (26%).

Gen Zers are most likely to shop online for personal care items such as body wash or shaving cream (32%), whereas baby boomers often shop for pet supplies (20%) and Gen Xers purchase home goods, such as furniture (26%).

But everyone has their limits. According to the results, food (32%), drinks (32%) and baby or kid supplies (22%) are best purchased offline.

“Results revealed that social shoppers are almost equally likely to purchase something they just happened to stumble across (30%) as they are to purposely browse products for a specific need (28%). This underscores the roles that social media plays in Americans’ shopping habits,” said Janelle Sallenave, Chief Spending Officer for Chime. “Still, 45% have regretted a social purchase they’ve made which means that smart, savvy shopping still needs to be at the forefront of shoppers’ minds.”

The survey also explored the role that targeted ads play in the average social media shopping experience. Results found that despite their sometimes Big Brother-esque stereotype, Americans are slightly more likely to find them helpful (43%) than concerning (41%).

Baby boomers, however, are the only generation who finds targeted ads to be more concerning (50%).

On average, Americans notice a targeted ad for something they only spoke about and did not type it into their phone about five times per week.

Taking things a step further, another 44% would even be likely to try and “create” targeted ads by whispering “engagement ring” into their partner’s phone or talking about a travel destination within earshot of someone’s phone.

More than nine in 10 (93%) engage with targeted ads and have noticed that they’re likely to show up on other websites or social media channels (41%) or that they’re shown other versions of the same ad the more they interact with them (37%).

“Whether you fall victim to your favorite brand’s sale, doom scrolling or targeted ads, there’s something to be said about effectiveness,” said Sallenave. “While it’s tempting to make quick buys, especially when you come across a great find, it’s important to pause and think. Shopping smarter means making sure your purchases align with your needs and budget, not just impulse.”