HOW INFLUENCERS CREDIBILITY ON INSTAGRAM IS PERCEIVED BY CONSUMERS AND ITS IMPACT ON PURCHASE INTENTION

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HOW INFLUENCERS CREDIBILITY ON INSTAGRAM IS PERCEIVED BY CONSUMERS AND ITS IMPACT ON PURCHASE INTENTION ( how-influencers-credibility-on-instagram-is-perceived-by-con )

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Figure 1. Top 13 social media platforms visual comparison Source: (dreamgrow.com, 2017) Moreover, according to Kallas (2017) the 10 top social networking apps currently are: firstly Facebook and WhatsApp, both with 1.2 billion monthly active users; QQ Chat: 899 million; WeChat: 806 million; Instagram: 700 million; QZone: 652 million; Viber: 249 million; LINE: 218 million; Snapchat: 200 million and YY with 122 million monthly active users. Focusing on Instagram, its videos have 2 times the engagement of any other social media platform (Aslam, 2017). Moreover, Instagram hosts 700 million individual accounts, among which 400 million log on every day. Instagram was bought by $1 billion by Facebook and nowadays the platform’s current worth is estimated to be of approximately $50 billion (Hutchinson, 2017). It is also known that 59% of Instagram users are between 18 and 29 years old, followed by 33% between 30 and 49; 18% are between 50 and 64; and the remaining 8% are over 65 years old (SproutSocial.com, 2017). 2.1.3 Importance of SM for businesses and consumers Web 2.0 takes a new step forward in the expansion of the Internet in a marketing environment. Previous studies advocate that young consumers have already adopted online SM as an inherent part of their life (Bizreport.com, 2007). Furthermore, online consumers have perceived Web 2.0 applications as a source of empowerment, not only in the shape of content sourcing and communities of dialogue. but also as one of confrontation of producers and vendors concerning their commercial, ethical and social 18

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