Alexa and TikTok are two ‘alternative’ methods to shop for Christmas and Black Friday.
New ways to buy, such as voice assistants and social media, are rapidly emerging, and with them, new payment apps like Klarna and Shopify. According to research, six out of ten young adults will do their Black Friday and Christmas shopping using “alternative” methods such as Pinterest, TikTok, and Alexa this year.
More than half (57%) of 18- to 24-year-olds, also known as “Gen Z,” have used non-traditional spending methods in the past year, and this trend is expected to continue into the holiday season and beyond.
According to a survey of 2,000 consumers, Facebook (32%) will be popular, as will voice assistants like Alexa (31%), TikTok (16%), and Pinterest (17%), as well as livestream purchasing via retailer websites (19 percent).
And the trend isn’t just restricted to millennials: 25% and 17% of over-35s plan to spend similarly during their Christmas and Black Friday shopping sprees, respectively.
The survey, commissioned by Brightpearl.com, a retail operating system for some of the world’s greatest brands and merchants, looked into why these “alternative” techniques have grown in popularity among customers of all ages.
Four out of ten people favor new social buying channels and livestreams, which integrate entertainment and shopping in a similar way to traditional malls.
Similarly, 36% of Britons believe they are better since they can easily communicate and socialize with their pals when on a shopping spree.
Despite the fact that new ways to shop are rapidly emerging during the holiday season, Brightpearl analysts discovered that relatively few firms are geared up to support non-traditional buying methods.
According to a survey of 200 shops, new discovery and selling channels such as TikTok (15%), YouTube (20%), and livestream spending have limited uptake (nine percent).
And this could hurt their profit margins because a quarter of customers have decided not to buy goods or services from a company that does not provide innovative methods to shop.
“In the pre-internet age, retailers eventually realized shopping can be a type of entertainment, and a wider social activity, which is not only fun for consumers but also results in more sales,” said Nick Shaw, a spokesman for Brightpearl.com.
“As a result, traditional retailers made a greater effort to make shopping “an experience” – a leisure activity.
“And owing to a slew of new methods to shop online – from new social media channels to voice and live streaming – we’re seeing this happen with online shopping as well. The news is summarized by Brinkwire.