A new report from Stripe Theory reveals a significant shift in influencer marketing. The study, conducted in early 2024, surveyed 1,010 U.S.-based participants who have made purchases based on influencer recommendations.
The research highlights a growing preference for authentic partnerships over traditional influencer advertisements. Among the key findings, 73% of consumers now turn to creators for purchase decisions. Product quality, price, and authenticity rank as the top three factors influencing purchase decisions based on influencer recommendations across all age groups surveyed.
Transparency emerges as a critical element in maintaining consumer trust. The study finds that lack of transparency about sponsorships, promoting products not used, and faking personal experiences are the top factors contributing to perceptions of inauthenticity among influencers.
The report notes a decline in consumer interest in traditional influencer content despite an increase in social media engagement for purchase behaviors. Axios reports a 16% decrease in interest in influencers’ attire since 2020, while the number of American consumers researching products on social media has increased by 42%.
Stripe Theory’s findings indicate a shift towards “everyday creators” who distance themselves from the traditional “influencer” label. These creators are perceived as more relatable and authentic, often leveraging their expertise in specific niches.
The study reveals generational differences in influencer impact. For those under 18, exclusive discounts and product giveaways are most important. The 18-24 age group prioritizes transparency and authenticity, while those aged 25-49 value expertise most. For the 50-64 and 65+ age groups, transparency and authenticity remain top priorities.
The report also highlights the changing platform preferences for influencer collaborations. TikTok emerges as the preferred platform for 56% of brands to collaborate with influencers. Instagram follows with 37% of users regularly interacting with influencers on the platform.
The study points to a significant market opportunity, citing Influencer Marketing Hub’s estimates that the total creator economy market size is around $104 billion. The report suggests a substantial growth trajectory on par with the gig economy, projecting a future valuation in the trillions of dollars.
Gen Z consumers are identified as a key demographic driving this growth. According to Axios data cited in the report, Gen Z is 23% more likely to make impulsive purchases and 27% less likely to spend time finding deals than other generations, attributes linked to their early involvement with social media.
The report also notes the rise of expert influencers in specific fields. Examples include dermatologist Lindsey Zubritsky collaborating with CeraVe and former NASA engineer Mark Rober partnering with KiwiCo to create educational content for children.
Stripe Theory’s research suggests a shift in consumer preferences towards quality over quantity in influencer partnerships. The report coins the term “Anti-Walmart Effect” to describe audiences favoring authenticity and selectivity over mass-market endorsements.
The study also touches on the importance of long-term partnerships between brands and influencers rather than one-off campaigns. It cites AG1 (Athletic Greens) as an example of successful long-form campaigning, noting its position as the third-largest podcast advertiser. The full report is available here.
Nii A. Ahene is the founder and managing director of Net Influencer, a website dedicated to offering insights into the influencer marketing industry. Together with its newsletter, Influencer Weekly, Net Influencer provides news, commentary, and analysis of the events shaping the creator and influencer marketing space. Through interviews with startups, influencers, brands, and platforms, Nii and his team explore how influencer marketing is being effectively used to benefit businesses and personal brands alike.
A new report from Stripe Theory reveals a significant shift in influencer marketing. The study, conducted in early 2024, surveyed 1,010 U.S.-based participants who have made purchases based on influencer recommendations.
The research highlights a growing preference for authentic partnerships over traditional influencer advertisements. Among the key findings, 73% of consumers now turn to creators for purchase decisions. Product quality, price, and authenticity rank as the top three factors influencing purchase decisions based on influencer recommendations across all age groups surveyed.
Transparency emerges as a critical element in maintaining consumer trust. The study finds that lack of transparency about sponsorships, promoting products not used, and faking personal experiences are the top factors contributing to perceptions of inauthenticity among influencers.
The report notes a decline in consumer interest in traditional influencer content despite an increase in social media engagement for purchase behaviors. Axios reports a 16% decrease in interest in influencers’ attire since 2020, while the number of American consumers researching products on social media has increased by 42%.
Stripe Theory’s findings indicate a shift towards “everyday creators” who distance themselves from the traditional “influencer” label. These creators are perceived as more relatable and authentic, often leveraging their expertise in specific niches.
The study reveals generational differences in influencer impact. For those under 18, exclusive discounts and product giveaways are most important. The 18-24 age group prioritizes transparency and authenticity, while those aged 25-49 value expertise most. For the 50-64 and 65+ age groups, transparency and authenticity remain top priorities.
The report also highlights the changing platform preferences for influencer collaborations. TikTok emerges as the preferred platform for 56% of brands to collaborate with influencers. Instagram follows with 37% of users regularly interacting with influencers on the platform.
The study points to a significant market opportunity, citing Influencer Marketing Hub’s estimates that the total creator economy market size is around $104 billion. The report suggests a substantial growth trajectory on par with the gig economy, projecting a future valuation in the trillions of dollars.
Gen Z consumers are identified as a key demographic driving this growth. According to Axios data cited in the report, Gen Z is 23% more likely to make impulsive purchases and 27% less likely to spend time finding deals than other generations, attributes linked to their early involvement with social media.
The report also notes the rise of expert influencers in specific fields. Examples include dermatologist Lindsey Zubritsky collaborating with CeraVe and former NASA engineer Mark Rober partnering with KiwiCo to create educational content for children.
Stripe Theory’s research suggests a shift in consumer preferences towards quality over quantity in influencer partnerships. The report coins the term “Anti-Walmart Effect” to describe audiences favoring authenticity and selectivity over mass-market endorsements.
The study also touches on the importance of long-term partnerships between brands and influencers rather than one-off campaigns. It cites AG1 (Athletic Greens) as an example of successful long-form campaigning, noting its position as the third-largest podcast advertiser. The full report is available here.