Gen Z and Millennials are experiencing buyer’s remorse over their social media-influenced purchases. A new survey from Bankrate finds that 60% of Gen Z and 61% of Millennials have impulse shopped due to social media within the past year. And because of the strong pull that online shopping has over these young gens, they are feeling regretful of their purchases, with 55% of Millennials and 58% of Gen Z experiencing buyer’s remorse. A Bankrate senior industry analyst explains that “Young adults are especially likely to be swayed by experiences,” speculating that travel, dining, and concert tickets were amongst the top impulse purchases made by young consumers. YPulse data shows social shopping is only getting more popular with young consumers, and the purchases social media influences are likely being made directly in their feed. (Fortune)
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