+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

5 Charts That Show How Tweets, Pins And Facebook Likes Are Driving Retail Sales, Online And Offline

Sep 6, 2013, 21:45 IST

BI IntelligenceThe stubborn conversion rate gap persists, but it doesn't account for offline purchasingOverall usage on social media platforms is exploding. Millions and millions of consumers are expressing likes on Facebook, tweeting about products on Twitter, and pinning on Pinterest every single day.

Advertisement

Retailers and brands are increasingly focusing their attention on social commerce.

But many struggle with the question: how do you convert a "like," a "tweet," or "pin" into a sale? Is social media really going to be a source of dollars and foot traffic?

In a recent report from BI Intelligence, we look at successful examples of businesses and business models for generating commerce via social media-based strategies.

Access The Full Report And Data By Signing Up For A Free Trial Today >>

Advertisement

We also analyze Pinterest's success as a social commerce platform, look at Facebook's potential as a social commerce contender, and we examine the numbers behind the social commerce conversion and order value gap. The report is supplemented by rich datasets on social commerce, and subscribers will also receive full access to BI Intelligence's full library of hundreds of in-depth reports, charts and datasets - including up to date coverage on social commerce.

Here's an overview of the converging trends that promise to transform social media into a viable commerce platform:

BI IntelligenceTwitter users make over half their social media-inspired purchases on mobile

  • The rise of the visual Web: Sites like Tumblr, Pinterest, Instagram, and Wanelo are becoming repositories for shopping ideas, fashion tips, and wish lists - in essence user-generated catalogs. For example, in a recent survey by Zmags (a mobile catalog company), 63% of online shoppers said they plan to use online catalogs. And 35% said they plan to use Pinterest to make purchases.

BI IntelligenceSpecialty retailers like Victoria's Secret rush to adopt photo and video-based services

  • Demographics: Today's mobile-savvy consumers in their teens and early twenties are accustomed to shopping online and tend to see their smartphones and tablets asan important shopping tool. Pinterest's average user is between the ages of 30 and 49, which is an age bracket with considerable disposable income. Pinterest users tend to be women (anywhere from 80 to 85% of its user base is female). Marketers know that it is women who usually control the purse strings for household purchases for clothes, home decoration, and gifts - three strong areas for Pinterest. There is increasing evidence that Pinterest is driving shoppers into bricks-and-mortar stores.

BIIPinterest users, four-fifths female, are buying in stores after pinning

Advertisement
  • Significant challenges remain: Social commerce - whatever the model - needs to better reflect the fundamental rule of e-commerce, which Amazon has always championed: Consumers will click to buy when it's relatively effortless. That's even more true of a casual shopper who ends up on a retailer's site because of a social recommendation. That intent to buy is fragile and can quickly evaporate. Currently, social commerce strategies involve too many intermediate steps before a user ends up in front of the crucial "buy" button.

BII IntelligenceConversion rates lag, but average order values are healthy on Pinterest

The report is full of similar charts and data that can be easily downloaded and put to use. Our data archive includes hundreds of datasets on the mobile and social industries.

In full, the report:

To access BI Intelligence's full reports on The Rise Of Social Commerce, sign up for a free trial subscription here.

You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article