Shoppers Highly Influenced by Social Media During Holiday Season
E-commerce platform MarketLive determined in a new survey that social media and mobile would play significant roles in influencing the shopping habits of people this coming holiday season. It determined that, among their current respondents, at least 30% of them have made a purchase as a result of social network engagement in the past 12 months. This is up from 12% in the previous year. MarketLive says that “by focusing on key areas that will affect shopping behavior,” retailers will be able to make the most of the holiday season.
Figure 1 above shows just how impactful social networks are on people’s buying behavior. Whether it’s a product review, a Facebook Like, or something being featured on Pinterest, a significant number of buyers consider social media’s influence to be very or at least somewhat important. MarketLive further states that “in addition to receiving influence from social networks, respondents also showed a heightened obligation to contribute to social sites as well”.
Listed below are other statistics taken from the MarketLive press release:
- 49% will make a purchase because of a social referral
- 44% intend to discover new products via social networks
- 52% feel it is important to review products they have purchased
- 48% say it is important to share product recommendations with friends/family via social channels
- 42% will pin items on Pinterest
Founder and CEO of MarketLive Ken Burke advised merchants to pay particular attention to their social presence despite growing revenues. Burke states that the survey notes how social influence has impacted gift purchases, and that they “may have finally turned the corner on social commerce.”
Additionally, the survey noted the continued emergence of mobile, and how it will play a bigger role in consumer purchases. Burke stressed that with more purchases and in-store activities being done on smartphones, retailers must have “an engaging and optimized mobile experience.”
Meanwhile, Figure 2 above shows the different factors that would compel shoppers to complete their online purchases on social networking sites this holiday season. While the more conventional triggers—like free shipping, discounts, and daily deals—still top the survey, their usage has increased from the previous year. This demonstrates that no matter how influential social networks are, consumers still place greater emphasis on financial savings and will likely opt for better deals.
MarketLive surveyed a total of 1000 U.S. consumers for their survey, all of whom spent at least $250 or more on e-commerce per year. The respondents were also equally divided by gender.
How significant will social media be for you this holiday season? Do you agree with MarketLive’s assessment of social media and mobile? Shout out in the Comments below.
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