Gen Z more likely to make purchases based on social media: Survey

A recent survey from Charles Schwab shows more U.S. consumers are using social media to make purchasing decisions. The biggest group is Gen Z, of which 55% said they make shopping decisions based on what they see from social media posts. Yahoo Finance Reporter Brooke DiPalma explains that using social media to attract Gen Z customers has been a significant strategy for retailers. DiPalma says retailers such as Abercrombie & Fitch (ANF), Kohl’s (KSS), and Nordstrom (JWN) have all said they are making a push to attract younger shoppers. Retailers continue to want to attract Gen Z because they are “setting the trends” according to Dipalma, who notes that older generations tend to then pick up on those trends.