Title: Social Commerce IQ: Retail
Type: Report
Author: 8th Bridge
Opt-In: Yes
Short:
Social commerce is the new frontier for the retail industry. The space has grown tremendously in the last two years and will be a multi-billion dollar industry by 2015. In this inaugural report, The Social Commerce IQ™: Retail, 8thBridge has analyzed the top 200 retailers on Facebook and ranked them based on their Social Commerce IQ™. We examine how these retailers use Facebook and what strategies are the most critical for success. We believe that retailers with a higher Social Commerce IQ™ create better experiences for their customers.
Insights from the report include:
- Social shopping engagement rates are 30% higher than other status updates
- Over 35 million people have shared a product on Facebook
- 35% of people are more likely to buy a product if it has more Likes on the product page
- Nearly 60% of Likes on product pages are driven by product owners
- 22 million people have been driven to make a purchase based on a Facebook recommendation
Download: 8th Bridge
Date: July-August 2011
Filed under: Analysis, Research report, Studies, 8thbridge, analysis, commerce, ecommerce, facebook, online, report, research, retail, social, socialcommerce, socialmedia, study
