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.
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Neil Davey was previously the editor of MyCustomer from 2007 until May 2023. An experienced business journalist and editor, Neil has worked on a variety of newspapers, magazines and websites over the past 20 years, including Internet Works, CXO magazine and Business Management.
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When it comes to social media, the other key area that retailers need to focus on is social customer service, with a growing number of consumers wanting to get answers to their queries through networks such as Twitter and Facebook. Yet UK retailers only responded to 45% of questions on Twitter according to our research, showing a gap that is likely to hurt brands. More in this blog post at http://www.eptica.com/blog/uk-retail-customer-service-failing-move-forward
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