BI Intelligence
Today only a fraction of retailer's online sales are actually generated directly through a referral from a social network. But the volume of social commerce is growing quickly, in the triple digits in many cases. Overall, social commerce sales grew at three times the rate of overall e-commerce last year.
new report from BI Intelligence we break down how social media is impacting retail sales throughout the purchase process>$4 - whether a social media user clicks directly from a retailer's Facebook ad to make a purchase, or sees a pin on Pinterest and ends up buying the product in-store a week later. $4.
Here are a selection of the key points from the report:
- Social commerce is growing quickly: $4, according to the $4, up more than 60% over 2012, while the e-commerce market as a whole grew only 17%.
- Social commerce is even larger in terms of revenue generation when looking not at traditional direct referrals>$4, when the last click before purchase happens on a social-media site, but when looking at where consumers began their purchase process, i.e., the first click.
- Growth is sure to accelerate and conversion rates should improve as Twitter and Facebook roll out "Buy" buttons, >$4which will allow social-network audiences to initiate an e-commerce purchase by clicking on a retailer's post or tweet. Facebook's tests began in July, Twitter's in September.
- Facebook is the clear leader for social-commerce referrals and sales: This is due in large part to the sheer size of its audience - $4. $4, according to $4. On Twitter, a share or retweet is worth only 85 cents.
- But other sites are gaining, and even leading on, specific metrics, like average order value (AOV): $4, according to Shopify. Pinterest sees $65. That's compared to Facebook, which sees $55 AOV. including Facebook.>$4
In full, the report: