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It's time for retailers to start paying close attention to social media

Bii social ecommerce referral traffic3 1BI Intelligence

Social media may still only drive a small share of of total online retail sales, but its impact is becoming impossible to ignore. Social-driven retail sales and referral traffic are rising at a faster pace than all other online channels.

The top 500 retailers earned $US3.3 billion from social shopping in 2014, up 26% from 2013, according to the Internet Retailer’s Social Media 500. That is well ahead of the roughly 16% growth rate for the overall e-commerce market in the US.

Now new initiatives from a number of different social networks are making these platforms absolutely essential for retailers that want to drive sales and boost engagement.

In a new report from BI Intelligence we analyse social media’s role in online retail — whether that’s driving direct sales with the use of embedded “Buy” buttons on social media posts, or referring traffic to retailers’ websites and apps. We measure the impact social media has on e-commerce by looking at metrics such as conversation rates, average order value, and revenue generated by shares, likes, and tweets. We also outline the latest commerce efforts by leading social networks.

Access The Full Report By Signing Up For A Trial >>

Here are some of the key points from the report:

In full, the report:

Bii social commerce sales share2 1BI Intelligence

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