"I Bought This on Social Media"

Before making a purchasing decision, a logical first step is to research what type of product you are looking for. For most people in the U.S., Google or another search engine is the place to start – but the dominance of the sector has been decreasing. Data from Statista Consumer Insights shows that 69 percent of Americans said in 2019 that they researched product information using a search engine. This number was down to 54 percent as of the end of last year. While search engines cut the biggest losses in the survey, the next biggest decreases in research interest were registered for customer reviews (-12 percent) and online stores (-7 percent).

In contrast, social media websites and apps have increased their influence on product research by four percentage points, with 24 percent of those between the ages of 18 and 64 now saying they used social media for the purpose. Interestingly, looking for product info in newspapers and magazines or on these media’s websites or apps is one of the few other categories where product research increased between 2019 and 2022, if only slightly. While some print publications relevant for consumers, for example Consumer Reports, have been around for a long time and continue to be trusted by the public, other media like The New York Times have recently heavily invested in consumer sections. The newspaper purchased the review website Wirecutter for $30 million in 2016 and has been promoting its content heavily.