The creator economy is reaching new heights, with nearly two-thirds (65%) of consumers now purchasing products and services from creator-founded companies. That's according to creator agency Billion Dollar Boy, which recently polled 4,000 people across the US and UK.
According to that research — keeping in mind that the company stands to benefit from a buoyant creator economy — creator entrepreneurs are slightly outpacing traditional brands on consumer preference, with 27% of shoppers more likely to buy from creators or influencers, compared to 24% who expressed a preference for established companies. Buying behavior is particularly pronounced among younger demographics, with 91% of consumers aged 16-24 having purchased creator-founded products.
Behind this shift lies a mix of motivations. While 35% of shoppers say they want to support small and emerging businesses, nearly a third believe the products on offer are actually superior in quality. Other reasons: trusting influencers over traditional brands, feeling like part of a community, wanting to get in on a trending product and being a loyal follower of a creator.
So, what are people buying? Personal care/beauty leads the category mix, with 40% of consumers having purchased a creator-founded skincare, make-up or haircare product. Food and drink is next at 21%, followed by fashion at 17%. The phenomenon is notably stronger in the US, where 71% of consumers have bought from creators, compared to 58% in the UK.
