How does social media influence Gen Z’s customer journey?

Marketers may be obsessed with reaching younger consumers, but that doesn’t mean that baby boomers aren’t worth their time. Next year, 11.3 million consumers ages 55 to 64 and 10.8 million consumers 65 and older will make a purchase via social media, per our forecast.

Time spent on Facebook and Instagram this year was up 7% and 6%, respectively, according to Meta’s Q3 earnings. “It’s just incredible growth considering how much time people are already spending on these platforms,” our analyst Jasmine Enberg said on a recent episode of the “Behind the Numbers” podcast. “And that, of course, is a really important metric to advertisers.”

Despite Meta’s strong year, ByteDance is close behind: TikTok owner’s $29 billion in Q2 revenues rivals US giant, which lags far behind in growth.

Amazon turns to Meta, Snap partnerships to keep TikTok at bay: As the retailer moves in on social commerce, TikTok is beefing up its supply chain.

On today's podcast episode, we discuss a new lawsuit against Meta for designing its products to be addictive to kids, new paid ad-free versions of Facebook and Instagram, and where Threads engagement is at. "In Other News," we talk about whether we will ever come together again on social media and if AI can help us get there. Tune in to the discussion with our analyst Jasmine Enberg and director of Briefings Jeremy Goldman.

Social commerce sales are continuing to rise steadily, reaching $82.82 billion in the US next year, per our forecast. But it’s getting harder to convert new buyers. Here’s how retailers can encourage more social media purchases and boost their social commerce sales.

Gen Z’s attention is split across social media for shopping and search: The cohort’s use of multiple social networks spells opportunity for platforms and advertisers.

Meta showcases robust Q3 growth with $34.15 billion in revenues: Facebook and Instagram parent surges, despite Threads struggling to find its footing.

Meta introduces Broadcast Channels to Facebook and Messenger: The goal is to improve user engagement—but subscribers could get notification fatigue.

US annual social commerce sales per buyer will nearly double from $627.8 in 2023 to $1,223.7 in 2027, according to our forecast.

Social commerce still has plenty of room to expand in the US. With discovery and inspiration as the key characteristics of social commerce, TikTok won’t be Amazon—but it will bring in new Gen Z shoppers.

Half of shoppers worldwide have used social media to discover products, per Salesforce, but even more (59%) have used it to purchase something.

Even as TikTok ad revenues tick up, Meta will still account for 75.0% US ad dollars spent on social media this year, according to our forecast.

Facebook and Instagram Reels are growing in popularity, and provide an opportunity for brand marketers to extend their reach and engage with key audiences. With Meta’s new AI-powered brand suitability controls for Reels, marketers will be more empowered to craft suitable environments for their ads.

Next year, US influencer marketing spend will hit $5.89 billion, and 82.7% of marketers will use influencer marketing, according to our forecasts. While that figure still pales in comparison to the $75.08 billion going to social network ad spend, influencer marketing is growing at a faster rate.

Meta proposes ad-free subscriptions for EU users: A strategic shift ahead of 2024's Digital Services Act, with global implications.

Key stat: 53.7% of US marketers will use Instagram Reels for influencer marketing this year, making it the top platform for influencer marketing according to our forecast.