Gen Zers dominate online shopping in Singapore with livestreaming & ‘shoppertainment’ – CNBC

Title: Gen Z Leading the Way in Social Media Shopping in Singapore

Online shoppers in Singapore are embracing new buying experiences and Gen Zers are at the forefront of this trend. According to a recent report by Meta and Bain & Company, 72% of Gen Zers in Singapore prefer to shop online, with 45% doing so through social media. Platforms like TikTok and Instagram are more popular among Gen Zers compared to Facebook, which is favored by older generations. Social media shopping, also known as social commerce, is expected to grow significantly in Singapore, estimated to reach $6.99 billion by 2028. This shift towards social media shopping is driven by the appeal of “shoppertainment,” where entertaining and informative videos on platforms like TikTok help create a sense of authenticity and credibility for products. Gen Zers are drawn to content creators who provide genuine reviews and recommendations, fostering trust in their purchasing decisions. Additionally, influencers with smaller follower counts, known as nano-influencers, are preferred by Gen Z shoppers for their niche recommendations that align with their preferences. Traditional e-commerce sites are also adapting to this trend by incorporating influencer marketing, further catering to Gen Z shoppers. The importance of Gen Zers as a consumer segment is growing, given their rising spending power and ability to influence the shopping habits of previous generations. With increasing disposable income, Gen Zers have the potential to shape the future of the retail industry in Singapore.

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*Why did we choose this article for headlines4happiness, what makes this news a good news?*

This article is positive and generates good thoughts because:

1. It highlights the growing trend of social media shopping, which brings convenience and accessibility to consumers in Singapore.

2. It emphasizes that Gen Zers are at the forefront of this trend, showcasing their ability to adapt to new buying experiences and their influence in shaping the retail industry.

3. It mentions the appeal of “shoppertainment,” where entertaining and informative videos create authenticity and credibility for products, promoting a positive and engaging shopping experience.

4. It recognizes the importance of trust in purchasing decisions, as Gen Zers are drawn to content creators who provide genuine reviews and recommendations, fostering a sense of reliability and confidence.

5. It acknowledges the changing dynamics of influencer marketing, with nano-influencers preferred by Gen Z shoppers for their niche recommendations that align with their preferences.

6. It highlights the adaptation of traditional e-commerce sites to incorporate influencer marketing, showcasing their ability to cater to the preferences of Gen Z shoppers.

Overall, this article inspires optimism by showcasing the evolving landscape of shopping in Singapore and highlighting the positive impact Gen Zers have in shaping the industry.