Facebook Marketplace vs. TikTok Shop: Here’s Where Americans Prefer Shopping

Posted by author November 3, 2024 Shopping

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Gone are the days when the only options for shopping involved going into a physical store or visiting a retailer’s website. Now, many Americans are making their purchases on social media platforms.

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According to a recent Chime survey, the top two social media platforms Americans turn to when shopping intentionally are Facebook Marketplace and TikTok Shop, with Facebook Marketplace having a slight edge — 49% of respondents most often visit Facebook Marketplace with intent to purchase something, while 41% most often visit TikTok Shop.

Here’s a look at why Americans favor Facebook Marketplace, how it compares TikTok Shop and ways to keep social media spending on your platform of choice in check.

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One of the main reasons Americans prefer Facebook Marketplace is the strong sense of community it fosters, said Janelle Sallenave, chief spending officer at Chime. “Buyers can leave ratings and reviews for sellers, which builds trust and encourages referrals within Facebook’s vast user base,” she said. “Because of this community-driven dynamic, we weren’t surprised to find that Facebook Marketplace was the top choice for 49% of social media shoppers.”

It also provides a more personal shopping experience than other platforms. “The platform allows for direct communication between buyers and sellers, adding a personal touch that’s often missing with other social platforms,” Sallenave said. “This immediate, human connection enhances trust and leads to smoother, more satisfying shopping experiences.”

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While Facebook Marketplace and TikTok Shop were the clear winners when it comes to the social media platforms Americans go to for intentional shopping — for comparison, 27% go to the main Facebook platform, 17% go to Instagram, 11% go to Craigslist, 9% go to YouTube and 8% go to Pinterest — there are some key differences between the two.

“Facebook Marketplace appeals to those looking for pre-owned, practical, budget-friendly items such as furniture, sports gear and kitchen appliances,” Sallenave said. “The platform’s direct communication between buyers and sellers streamlines transactions, making the overall experience more transparent and user-friendly.”

In contrast, TikTok Shop is more trend-based. “TikTok Shop is driven by ever-evolving trends, often fueled by influencer endorsements, which can encourage more impulsive purchases,” Sallenave continued. “Our data shows that Americans spend an average of three hours per day browsing social media products, and a whopping 99% admit these sessions often lead to a purchase. While Facebook Marketplace is great for intentional shopping, TikTok Shop excels in capturing the thrill of trendy, spontaneous buys.”

The main reason many Americans enjoy shopping on TikTok Shop is the overall experience it provides. “TikTok Shop has revolutionized the online shopping experience by blending it with entertainment,” Sallenave said. “It’s not just about buying; it’s about engaging with content that feels exciting and fresh. Our internal data shows an impressive 320% increase in monthly spending by our members on TikTok Shop from September 2023 to August 2024, along with a 220% jump in transaction volume.”

For better or for worse, shopping on TikTok Shop is a seamless experience. “The platform makes adding items to your cart almost effortless, which could explain why we found that Americans spent an average of $168 on social media purchases in the past six months, with clothing (46%) and fashion accessories (30%) being the most popular categories,” Sallenave noted. “TikTok’s seamless integration of shopping and content creation makes it easy for users to discover and purchase new items.”

According to the Chime survey, “just browsing” on social media likely leads to a purchase for 99% of Americans. Making an impulse purchase every now and then is OK, but when it becomes a habit, it can derail your budget.

“Social media has turned shopping into a spontaneous and almost instinctive habit, but mindful spending is all about balance between treating yourself and sticking to your financial goals,” Sallenave said. “While it’s fun to indulge in an occasional splurge, it’s important to ensure that your purchases align with your needs and budget.”

Sallenave recommended setting clear spending limits and giving yourself a pause before hitting “buy,” especially for bigger-ticket items. “A good rule of thumb is to wait at least 24 hours before making a large purchase,” she said.

“It’s also essential to be aware of how targeted ads can influence your decisions,” Sallenave continued. “While the survey found that 43% of people find them helpful, 41% also express concerns about their impact. Before purchasing, take a step back to evaluate whether it’s something you really need or just a product that’s being marketed effectively. By staying aware of these tactics, you can shop with more intention and avoid unnecessary impulse buys.”

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This article originally appeared on GOBankingRates.com: Facebook Marketplace vs. TikTok Shop: Here’s Where Americans Prefer Shopping