Social media still only accounts for a small share of total retail sales, but its impact on people's shopping and buying activity is rising fast. Consider these statistics from Slant Marketing:
93% of Pinterest users use the platform to research purchases.
87% of Pinterest users have purchased an item because of Pinterest.
Instagram engagement is 58x to 120x higher than other platforms.
YouTube videos provide an 80% lift in consideration and 54% in ad recall.
Facebook accounts for 50% of social referrals and 64% of total social revenue.
With this in mind, the following infographic from SnapParcel.com examines some of the influencing factors in the rise of social's influence and how it is impacting ecommerce, based on statistics from Internet Retailer's Social Media top 500 list. Areas of interest include:
How the social media audience is growing.
What are the emerging commerce initiatives from the social networks.
How social networks are influencing online commerce.
After two decades of experience working as a journalist and editor covering business and technology, including over 15 years as editor of MyCustomer, Neil now works as senior content manager at skills-based workforce management platform provider Spotted Zebra. ...