Social media has become a constant presence in our lives, with the average person spending nearly two and a half hours using it per day, and its influence extends to how we shop. From introducing us to the latest trends to promoting impulse purchases, these platforms offer a world of convenience and temptation.
To understand how social media influences our buying habits, WalletHub performed a nationally representative online survey. You can find the complete results in the infographic below.
Key Stats
- Less Scrolling, Less Spending: 4 in 5 Americans say they would spend less money if they deleted their social media accounts.
- Social Media Scams: Nearly 1 in 5 Americans would describe their social media purchases as scams.
- Online Buyer’s Remorse: 54% of people regret purchases they’ve made through social media.
- Tariff Fears: 60% of Americans are concerned about tariffs making their social media purchases more expensive.
- Bad for Budgets: Half of Americans think social media is bad for their budget.
- Skeptical of Influencers’ Advice: Nearly 3 in 4 Americans say they don’t trust financial advice from social media influencers.
Full Survey & Responses
| Have you ever bought something from social media that you didn’t need? | |
|---|---|
| Yes | 68% |
| No | 32% |
| How would you describe the items you’ve purchased from social media? | |
| As advertised | 49% |
| Useless | 24% |
| Scam | 18% |
| Great | 9% |
| Do you regret any purchases you’ve made from social media? | |
| Yes | 54% |
| No | 46% |
| Is social media bad for your budget? | |
| No | 50% |
| Yes | 50% |
| Do you try to look richer than you really are on social media? | |
| No | 82% |
| Yes | 18% |
| Would you spend more or less money if you deleted your social media accounts? | |
| Less | 80% |
| More | 20% |
| Is social media good or bad for your debt? | |
| Bad | 69% |
| Good | 31% |
| Do you trust financial advice from social media influencers? | |
| No | 74% |
| Yes | 26% |
| Do you trust Google search results or social media influencers more? | |
| Google search results | 82% |
| Social media influencers | 18% |
| Are you concerned about tariffs making your social media purchases more expensive? | |
| Yes | 60% |
| No | 40% |
Note: Percentages may not total 100% due to rounding.
Survey Methodology
This report reflects the results of a nationally representative online survey of over 200 respondents.
After we collected all responses, we normalized the data by age, gender, and income so that the sample would reflect U.S. demographics.
WalletHub's personal finance experts are frequently cited by leading media outlets. Contact our media team to arrange an interview.