Snap, the Selfie Budget, and a Gen Z Army

Yes, you read S E L F I E B U D G E T correctly – Snap Inc.’s latest story: an #ecommerce push to monetize its users through the acquisition of Berlin-based retail tech startup Fit Analytics.

Per research firm Piper Sandler, the “Selfie Budget” (which includes clothing, fashion accessories, personal care, and shoes) made up 40% of US teens’ spending in fall 2020.

Snap now boasts 265m daily users (+22% year-over-year) — and on average those users open the app 30 times per day to collectively snap 5B+ photos.

Snap’s got a #GenZ army ready to fire at will. Roughly 90% of 13- to 24-year-olds in the US are on Snapchat, and they’re bringing the heat with $323B in direct buying power.

Bottom line: Snapchat’s got the teens, and Fit Analytics has the retail smarts. Ergo, this deal may need a “made in heaven” filter.

#wakeupimagine#thehustle#snap#socialmedia

Posted on March 26, 2021 in Creativity, Entertainement, Innovation, Marketing, Social Media, Technology, Trends

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About the Author

Michael Chase - a true hybrid – part doctor, part strategist, part data monkey, part creative director, part global growth hacker (when you're doing bic pen tracheotomies you still have to think of EBITDA) and through and through an innovator.

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