Facebook CEO reveals new “force” on social networks in 2024

According to Mr. Khoi Le, Country Director of Vietnam market of Meta platform (owner of social networks Facebook, Instagram), in 2024 there are 5 outstanding social networking trends on Meta platforms that businesses cannot ignore.

First, the development of Gen Z generation

Gen Z (those born between 1996 and 2012) are gradually increasing their influence as they begin to earn income, open bank accounts, and engage in business activities.

It is estimated that by 2025, this group will account for a quarter of the Asia- Pacific region's population.

The annual SYNC report by Meta shows that Gen Z will be a powerful segment, especially in Southeast Asia where young people have a lifestyle closely linked to technology and digital devices, with 82% of survey respondents saying they are participating in online communities.

Small and single households drive the growing trend of disposable products, household appliances and small-sized essential products.

Second, the "single economy "

The SYNC report shows that the trend of small or single-person households is becoming more and more popular.

In Vietnam, small and single households are the fastest growing groups with a compound annual growth rate of 1.1% from 2023 to 2030. This trend drives the increase of disposable products, household appliances and small-sized essential products.

Additionally, single consumers tend to spend more time on personal electronic devices and social media, participating in online communities and following content creators.

5 social media trends in 2024 according to Meta's forecast

The next three trends that will also stand out in 2024 are the strong growth of artificial intelligence (AI), conversational business, and the popularity of short videos like Reels.

Content from Reels creators also influences how Vietnamese consumers shop. 67% of survey respondents said they discover relevant brands and products from content creators on Meta’s platforms at least weekly, about 20% higher than other platforms.

Faced with the above trend, Mr. Khoi Le believes that 2024 will mark a major change in traditional marketing processes.

The era of one-way awareness, consideration, and purchase is fading under the impact of digital transformation. To continue to grow, marketers must shift to a more flexible and holistic approach.

Source: https://nld.com.vn/chu-quan-cua-facebook-tiet-lo-ve-the-luc-moi-tren-mang-xa-hoi-nam-2024-196240112150202768.htm