Key stat: Social media users in select countries (US, UK, Australia, France, and Saudi Arabia) trust brands over influencers when it comes to finance, apparel, and skincare, per an October study from Snap Inc. and IPG Magna. Finance is where this trend is most pronounced.
Beyond the chart:
- Despite getting a lot of their financial advice from TikTok, Gen Z is quite cautious when it comes to choosing financial products. Influencers for this industry need to show some sort of authority to win over trust.
- Brand-let creator communities are a happy medium for gaining consumer trust. These communities, in which select creators are backed by brands, could win points from both those who trust brands more and those who trust creators more.
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Methodology: Data is from the February 2024 Snap Inc. and IPG Magna report titled “Unleashing Influence: A Marketers’ Guide To Influencer’s Success.” 5,214 weekly social media users ages 16 to 49 in Australia (n=1,022), France (n=1,005), Saudi Arabia (n=1,005), the UK (n=1,003), and the US (n=1,179) were surveyed online during September-October 2023.