Are you aware that the more time you spend online, the more likely you are to empty your wallet? This can sound stupid to you but try not to brush it off. Sources state that about 72% of millennials buy luxury products due to the exposure to Instagram ads alone. Imagine how much this percentage might be shooting up if we take into account the impact of other social media sites too.
An adult internet user is said to spend an approximate of 5 hours online on social media per day. Even though you might think that your use of social media is not affecting and influencing your spending habit, it is. In a big big way!
You should know how:
Increased use of social media:
These days, brands are going a little easy on outdoor advertising. Ever wondered why? It is because they have found the exact place to reach us. You might have not realized it, but we carry thousands of brands and their advertisements with us wherever and everywhere we go. Brands and their advertisements have literally crept inside our bedrooms. That little rectangular shaped gadget with internet connectivity has made this possible. Facebook, Instagram, Twitter, Snapchat, YouTube, and other similar social networking sites have left no space between us and the brands. This is something not one of us can deny.
Bloggers and Social Media Influencers:
Gone are those days when a Sadhana brought with her the trend of fringes and tight-fitting chudidars, making every girl dress up in a similar way, or a Shah Rukh Khan making every boy want to own a GAP sweatshirts and ‘cool’ chain, that became a hit trend after Kuch Kuch Hota Hai came out. The current scenario has changed massively. Fashion, beauty, and other trends have become extremely niche with the advent of social media. You and I follow bloggers and social influencers who have succeeded in impressing us with their fashion, dressing styles, and the overall look. It makes us want to follow and imitate them. It tempts us to buy the products or brands they use in order to become like them or mirror their look. In spite of knowing that the reviews they give out about products are paid promotions by the brands, we consider anything told to us by them, as the gospel truth.
Social Media Advertisements:
That glossy red liquid lusciously applied on a model’s lips has surely made you hit the ‘shop now’ button. Hasn’t it? Ads always trick! We all know it. It yet doesn’t stop us from doing what we are doing. Ads have made the most out of social media and are generating high revenue for the companies. Use of attractive colours, favourite or popular celebs, a storyline that we all relate to, and other such factors is sure to trap us. We all end up buying products we don’t really need. Don’t even say a ‘No’.
Suggestions from Peers:
Of course, you trust your peers. I do too. We all have got a habit of sharing our life, more accurately ‘moments’ through stories. We see people from our social circle visiting places, trying out different things, shopping and so much more. We too feel like trying out those things. This ‘trying’ but obviously leads to spending.
Can’t Resist Ordering Food:
How could you possibly think I would let this pass unmentioned? Now if you are head over heels for finger licking food, you have to relate to me on this. The moment you open your Instagram and hit the search button, food is all you see. What is with that? Food bloggers make us feel hungry all the time. Moreover, food is something that is extremely difficult to resist. Online food ordering apps have additionally made it very easy for us to get our hands on food. They too are all over social media announcing offers and discounts. I am sure we all order food or find ourselves in a restaurant every other day. Food is something we have started spending on largely, more often than ever.
If you have been thinking about why you have started spending so much on things lately, it is important to make you realize that social media can be a possible reason. I am all for using social media and brands reaching out to us but we must not forget that we have started spending more money than usual because of the constant exposure to brands via social media.