Half of All Global Shoppers use Social Media to Discover Products

59%    

Half of global shoppers utilize social media for product discovery and 59% used it for purchases according to Salesforce. In 2024, an estimated 110.4 million social buyers will there in the US and Facebook will be the top platform for social commerce with 64.6 million followed by Instagram with 46.8 million and TikTok with 40.7 million.  

29.1%

A recent Piper Sandler survey reveals U.S. teenagers now watch more videos on YouTube 29.1% than on Netflix 28.7% showcasing the increasing competition in the streaming industry and YouTube's strong appeal as a free video platform. Hulu secured third place with a roughly 7% share, while Prime Video and Disney+ saw increased time allocation. 

51%  

In a Gallup Poll, half of the U.S. teenagers reported spending a minimum of 4 hours daily on social media platforms like TikTok, Instagram, Facebook, YouTube, and X and 51% of them spend 4.8 hours per day. The data is based on Survey conducted from June 26 to July 17, involving 6,643 parents and 1,591 adolescents. 

3.8%   

The US ad market is on the path to recovery, with an estimated 3.8% growth in total US media ad spend for a 2023 total of $353.86 billion, reflecting an improved outlook. Major streaming platforms, including Netflix, Disney+, and Amazon Prime Video, have embraced ad-supported models, driving a projected 21.2% growth in connected TV (CTV) advertising, a promising trend that suggests convergence between traditional and digital TV. 

475 M  

Snap's CEO Evan Spiegel conveyed in a September memo that the company might surpass expectations in 2024, potentially reaching over 475 million daily active users and achieving more than 20% full-year advertising revenue growth, outperforming analyst projections.  

$79 

Apple is releasing a budget-friendly Apple Pencil with a USB-C charging port in November for $79, designed for all USB-C iPads, offering magnetic attachment but omitting wireless charging and pressure sensitivity, catering to note-takers rather than digital artists. 

25 M 

Amazon's Prime Big Deal Days sale marked their largest-ever October holiday sales event, with hundreds of millions of items sold. U.S. Prime members purchased over 25 million items with rapid delivery, and more than 150 million items from independent sellers in Amazon's store, following July's record-breaking Prime Day event, where members collectively saved over $1 billion across numerous deals. Specific sales and revenue figures were not disclosed.