Ever scrolled through social media and felt that irresistible urge to buy the latest viral product? You’re not alone. A recent report from RELEX Solutions reveals that while 84% of consumers are lured by social media finds, the reality of actually purchasing these trending items is far less exciting.
The stats are telling: only 11% of shoppers snap up these products within 24 hours, and a whopping 55% take their sweet time, some even up to a month, in fact, before hitting “buy.”
So, what’s the hold-up? According to a survey of 1,012 U.S. consumers, the struggle is real. A staggering 68% report having to trek through two to four stores just to track down that hot item, and only 12% manage to snag it on their first attempt. If they don’t find it right away, 19% of shoppers are ready to throw in the towel entirely.
Retailers aren’t immune to these frustrations. Insights gathered from 20 brands and retailers at the NRF Big Show reveal that 65% have faced stockouts on viral products. Nearly half (45%) cite high inventory costs as their top challenge, while the same percentage admit that they need over a week to respond to surges in demand for these must-have items.
Dr. Madhav Durbha, Group Vice President of CPG and Manufacturing at RELEX Solutions, said: “There’s a clear disconnect between the hype on social media and what’s available in-store. To truly succeed, businesses need to focus on maintaining consistent product availability rather than just chasing the latest trend.”
Traditional retail still guides consumer purchases
Adding to the intrigue, traditional retail factors still reign supreme in guiding consumer purchases. Price remains king at 56%, with store convenience trailing behind at 42%. In comparison, factors like a store’s reputation for stocking trending items (27%) and staff expertise on viral products (18%) barely register on the radar.
Generational preferences also play a role in the social media shopping landscape. Facebook tops the list as the most influential platform, swaying 25% of consumers, followed closely by TikTok at 21% and Instagram at 20%. The younger crowd (18-29) shows a strong inclination towards TikTok, while older shoppers stick to Facebook. As age increases, the willingness to search multiple stores drops: only 7% of those aged 60 and older will venture to four or more stores, compared to 19% of their younger counterparts.
For retailers hoping to tap into the viral shopping frenzy, the key lies in transparency, accessibility, and making the buying experience as seamless as scrolling through TikTok. If they can bridge the gap between social buzz and in-store availability, they might just catch that elusive viral wave.