Stay ahead of the curve and future-proof your business with Mintel’s UK Social Media: Influencers Market Report 2023. Our full report is packed with consumer-led market intelligence, the latest social media marketing research, trends and consumer behaviours affecting your business.
Below, we’ve handpicked the key insights analysed in the full report and summarised the core topics.
Topics Analysed in this Report
- Use of social media platforms trended over time and who people follow on each platform.
- The impact of the cost of living crisis on influencers.
- Launches made by social media platforms and how this will impact influencers.
- Type of content people consume from social media personalities and the topics they cover.
- Attributes of social media personalities people are most engaged with.
- Behaviour in response to social media personalities, including purchasing behaviour.
Social Media Marketing: Overview
The cost of living crisis presents a challenging environment for influencers as brands reduce ad spend and people become more cautious about spending. However, people will also be seeking more information and validation before buying something, boosting the importance of trusted influencers in the purchasing journey.
- Social media marketing opportunity: 47% of those who follow social media personalities purchased something promoted by a personality.
Social Media Marketing: Challenges and Opportunities
Authenticity
Brands and influencers must battle scepticism about the believability of recommendations. New retail platforms that aim to better match brands with appropriate influencers could help persuade consumers that a social media personality genuinely believes in the product they are promoting.
- Social media marketing challenge: 42% of internet users who follow influencers say that they have felt misled about a product that influencers promoted on social media.
Dawn of the metaverse
The metaverse presents exciting opportunities for the future of influencers as people spend more of their time in virtual social and retail spaces. Mintel’s research shows that many are intrigued and will be receptive to such developments in influencer marketing.
- Social media marketing market opportunity: 54% of internet users who follow influencers are interested in virtual reality content.
Purchase our UK Social Media: Influencers Market Report to receive a five-year forecast, consumer behaviour analysis, and recommendations for market opportunities. Readers of this report may also be interested in our UK Social Media: Engaging with Brands Market Report 2023.
Leading Brands in the Social Media Landscape
TikTok, Instagram, BeReal, Facebook, Twitter, YouTube, Snapchat, Pinterest, Twitch.
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Expert Insights from a Technology Analyst
This report, written by Rebeccaa McGrath, a leading research analyst, delivers in-depth commentary and analysis to highlight trends and add expert context to the numbers.
BeReal’s emergence onto the social media scene and the incorporation of BeReal-esque features into major platforms, should push creators and influencers to create more content focused on authenticity and spontaneity.”
Rebecca McGrath
Associate Director for Media and Technology
Collapse All
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Overview
- Key issues covered in this Report
- Products covered in this Report
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Executive Summary
- The five-year outlook for influencers
- Figure 1: Category outlook for social media influencers, 2023-27
- The market
- The cost-of-living crisis will boost use of social media, but influencer marketing will have to adjust
- Digital advertising declines put strain on platforms and influencers
- Changes in search habits could boost role of influencers
- Brands and companies
- Retailers introduce new platforms to better utilise influencers
- M&S introduces a virtual Influencer
- Popularity of BeReal leads to major platforms exploring similar features
- The consumer
- Gap in the market for Twitter challenger
- Figure 2: Use of social media platforms, 2019-22
- Figure 3: Use of social media platforms, 2019-22
- Social media personalities are a core element of TikTok
- Figure 4: Who users follow on social media, 2022
- Short video is the most popular type of influencer content
- Figure 5: Content types from social media personalities, 2022
- Brands need to understand what is driving interest in an influencer
- Figure 6: Characteristics of most viewed social media personality, 2022
- Viral Pink Sauce highlights the potential impact of TikTok on food
- Figure 7: Social media personality topics, 2022
- Social media personalities have a significant impact on purchasing behaviour
- Figure 8: Influencers impact on purchasing behaviour, 2022
- Creator subscriptions are worth pursuing although performance may be hindered by cost-of-living crisis
- Figure 9: Payments to social media personalities, by financial situation, 2022
- Belief in the expertise of personalities presents opportunities and risks for brands
- Figure 10: Behaviour in response to social media personalities, 2022
- Many are interested in virtual reality influencer content
- Figure 11: Interest in virtual reality content from influencers, 2022
- The five-year outlook for influencers
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Issues and Insights
- Mixed reality technology provides new opportunities for influencers
- Creators subscriptions are worth pursuing even if the cost-of-living crisis will currently restrict their success
- BeReal should drive more spontaneous and authentic influencer promotions
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Market Drivers
- Technology developments provide opportunities for influencers
- Figure 12: Category outlook for social media influencers, 2023-27
- Consumer spending power will be curbed
- Cost-of-living crisis will boost use of social media, but influencer marketing will have to adjust
- Digital advertising declines put strain on platforms and influencers
- Changes in search habits could boost role of influencers
- Technology developments provide opportunities for influencers
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Market Share
- Ronaldo and Messi Instagram’s dominance moves up a gear
- Figure 13: Top-10 most followed influencers on Instagram, 2023
- Elon Musk’s takeover sees him rise to second most followed personality on Twitter
- Figure 14: Top-10 most followed influencers on Twitter, 2023
- MrBeast usurps PewDiePie on YouTube
- Figure 15: Top-10 most followed influencers on YouTube, 2023
- K-pop rules on YouTube
- Figure 16: Top-5 music acts on YouTube, 2023
- Khabane Lame has become the most followed person on TikTok
- Celebrities on TikTok are finding their footing
- Figure 17: Top-10 influencers on TikTok, 2023
- Major Twitch streamers are looking to broaden their horizons
- Figure 18: Top-10 influencers on Twitch, 2023
- Ronaldo and Messi Instagram’s dominance moves up a gear
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Launch Activity and Innovation
- Retailers introduce new platforms to better utilise influencers
- Klarna
- Walmart Creator
- Shopify Collabs
- Amazon’s Inspire to further blur social commerce lines
- Instagram adds new monetisation tool for creators
- Figure 19: Instagram Creator Subscriptions
- Changes to Twitter Blue make life more complicated for influencers
- Popularity of BeReal leads to major platforms exploring similar features
- BeReal will prompt more authentic influencer marketing
- M&S introduces a virtual Influencer
- Figure 20: Marks and Spencer virtual influencer
- ChatGPT drives interest in AI-created content
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Use of Social Media Platforms
- Gap in the market for Twitter challenger
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- Figure 21: Use of social media platforms, 2019-22
- Figure 22: Use of social media platforms, 2019-22
- Younger people are not disregarding older platforms when new ones come onto the scene
- Figure 23: Repertoire of use of social media platforms, by age, 2022
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- Figure 24: Use of social media platforms among 16-24 year olds, 2021-22
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Who Users Follow on Social Media
- Twitch introduces Guest Star feature to help influencers create content and build their following
- Multi-guest livestreams create opportunities for more group influencer collaborations
- Figure 25: Who users follow on social media, 2022
- Social media personalities are a core element of TikTok, but creators will want better monetisation options
- Brands targeting older consumers should also be utilising influencers
- Figure 26: Who users follow on social media, by age, 2022
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Types of Influencer Content
- Short video is the most popular type of influencer content
- Figure 27: Content types from social media personalities, 2022
- Pinterest’s Shuffles app shows there can still be creativity with photos and images
- Young women are more interested in photos, while young men prefer long videos
- Figure 28: Content types from social media personalities, by age and gender, 2022
- Diversification of content and platform is important
- Figure 29: Repertoire of type of social media personality content viewed, 2022
- Short video is the most popular type of influencer content
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Influencer Topics
- Bridging the gap between female gamers and influencers
- Figure 30: Social media personality topics, 2022
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- Figure 31: Social media personality topics, by gender, 2022
- Encourage men to engage with fashion/beauty influencers
- The story of Pink Sauce highlights the potential impact of TikTok on food
- Bridging the gap between female gamers and influencers
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Influencer Characteristics
- Brands need to understand what is driving interest in an influencer
- Figure 32: Characteristics of most viewed social media personality, 2022
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- Figure 33: Characteristics of most viewed social media personality, by gender, 2022
- Few find promotions believable, even from favoured influencers
- Brands need to understand what is driving interest in an influencer
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Behaviour in Response to Influencers
- Social media personalities have a significant impact on purchasing behaviour
- Figure 34: Influencers’ impact on purchasing behaviour, 2022
- Creator subscriptions are worth pursuing, although performance may be hindered by the cost-of-living crisis
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- Figure 35: Payments to social media personalities, by financial situation, 2022
- Belief in the expertise of personalities presents opportunities and risks for brands
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- Figure 36: Behaviour in response to social media personalities, 2022
- Many are interested in virtual reality influencer content
- Figure 37: Interest in virtual reality content from influencers, 2022
- Social media personalities have a significant impact on purchasing behaviour
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Appendix – Data Sources, Abbreviations and Supporting Information
- Abbreviations
- Consumer research methodology
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