Top 10 social commerce statistics that every business must know

Social media has become an integral part of human life. People across the world access their social media account in order to stay in touch with their friends. It is also a great platform to share opinions and seek out advice and recommendations. Businesses need to create and maintain an active and dynamic presence on social media sites. Here are the top 10 social commerce statistics that every business must know.

  1. Word of mouth: For centuries people have trusted the opinions and recommendations of friends and family members. This trend continues and 71% of people say that their decision to choose one brand over others is influenced by their friends.
  2. Consumer review over descriptions: People trust consumer reviews 12 times over product descriptions. In fact, they place more value on a less than perfect review over a detailed description.
  3. Faith in online recommendations: 90% of people trust the online recommendations made by their friends. 70% also put faith in the references offered by unknown social media users.
  4. Sharing experiences: 83% of online shoppers would like to share information regarding their shopping experience with their friends.
  5. More spending after recommendations: 67% of social media users spend more online after they receive recommendations from their social network friends.
  6. Social media to affect all retail shopping: Experts estimate that by the year 2014 all retail sales, online and offline, will be influenced by the internet.
  7. Consumers follow retailers: 77% of adult internet users have a social network account and 54% follow retailers on social networks.
  8. Top reasons to follow: Social media users follow retailers to gain from discounts, to get product details, to read consumer reviews and to share their own reviews.
  9. Active business presence counts: 56% of facebook users visit a retailer’s business page because of a post that they read on the network.
  10. Facebook store conversion rate: The conversion rate of F-stores (2-4%) equals that of online business stores. It is estimated that in the next 4 years shopping on facebook will be worth $34 billion.

The numbers speak for themselves, and they are reason enough to ensure that your business has a dynamic presence on social media networks such as facebook and twitter. Some of the top brands that sell on facebook include Coca Cola, Disney and Starbucks. People like to talk about their experiences, good and bad. This means that they discuss a wide range of brands on a daily basis. It is important for every business, big or small, to keep in touch with its target audiences. They need to understand what their consumers want and what interests them. 20% of all online sales are from Facebook. P&G’s Pampers facebook storefront sold 1000 packs of diapers in a trial hour. The numbers and research shows that social commerce is here to stay. And the reason for such a trend is because that it is convenient and fun. If your business offers its fans exclusive and relevant offers, online and offline, it can expect a loyal following. Being on facebook is more than just having a facebook business page. Showcase your products on a facebook store. Use an application such as Storefront Social to customize your facebook store.

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