Social media drives Australians’ big-ticket purchases

Cars were the most common large purchase linked to social media.

Social media is now pushing Australians into some of their biggest spending decisions, including cars, holidays and even homes, according to new research from Finder.

The report, which surveyed 1,003 Australians,  found 1 in 5 Australians (20%) have bought a big-ticket item through social platforms such as TikTok, Instagram or Facebook Marketplace.

It estimates that equals about 4.4 million people who say social media directly influenced them to make a major purchase.

Cars were the most common large purchase linked to social media, with 10% of respondents saying they had bought one after seeing it online.

Other major purchases included holidays, artwork and expensive jewellery (5% each), as well as pricey collectibles (4%). The report also found 3% of Australians claim they have bought a house through social media.

Finder money expert Rebecca Pike said social media has become a “powerful sales engine” that is changing where major buying decisions begin.

“For a growing number of Aussies, social media isn’t just entertainment – it’s influencing some of the biggest financial moves of their lives,” she said. “Buying a car or even a home used to start with a dealership or a real estate agent. Now it often starts with a scroll.”

Targeted advertising, influencer marketing, and algorithm-driven content can speed up decisions by repeatedly presenting products that match users’ interests and aspirations, Pike added.

“When you’re repeatedly shown a product that aligns with your aspirations, it can fast-track that purchase,” she said. “But big purchases deserve big consideration. A 30-second video or a glowing comment section shouldn’t replace doing your own research.”

She also warned Australians to be cautious when buying high-value items through social platforms, noting they can be both legitimate marketplaces and hotspots for scams.

“If you’re spending thousands — or hundreds of thousands — make sure you verify the seller, check contracts carefully and avoid paying large sums without proper protections in place,” Pike said.

“Whilst social media can create FOMO it can also create buyers remorse so consider whether you’re being influenced in a way that helps or hinders your finances,” she added.