One of the most viral and popular means of connecting with consumers in an interpersonal manner and encouraging a healthy conversion rate during the present day is via social media. Shoppers these days are more technologically savvy than ever before, and most are using one or more social channels on a daily basis. The most current social shopping statistics shine a bright light on the real impact.
Social Referrals Generate Strong Sales
According to online think tank Statistica, in 2013 alone, there were over 157 million online shoppers that were referred by social media networks. Websites like Twitter actually boast a higher conversion rate than standard internet users, according to Media Bistro, with 75% of Twitter users making at least one or more purchases per month, as contrasted to just 67% of internet users overall.
Furthermore, a report by Sprout Social finds that about 74% of all consumers rely upon social networks to make a purchasing decision. This can range from reading a review or learning about a purchase that was made by friends; or from seeing a product “favorited,” “liked,” “tweeted,” “pinned” and “shared.”
Social Shopping Statistics
One of the key advantages of using social media for branding is the engagement factor. Unlike other areas of advertising, consumers who follow your brand on social networks are essentially nurtured and interested leads, and want to be engaged by your brand, according to a social shopping statistics report by Marketing Professors.
Of the users that follow brands to learn more about their products and services, the following social shopping statistics apply:
Of the users that follow brands to specifically buy their products or services, the following social shopping statistics apply:
Social Shopping to Exponentially Grow in 2015
Unsurprisingly, social shopping is projected to grow by a sizeable portion this year. An Invesp social shopping statistics report predicts that over 5% of online retail spending will come directly from social media in 2015. Social sharing is the key instigator in consumers making a purchase, too, with 43% of users being encouraged to buy online after being influenced from a social share, according to a Vision Critical social media study.
By social channel, this equates to:
Social Shopping Statistics Fed by Integrated Marketing Tools
The largest social networks offer a viable platform for direct-to-consumer engagement, and feature an array of marketing tools that can be used. For example, posts can be “Boosted” on Facebook or integrated into PPC marketing adds. Twitter Cards can be used to make tweets standout with call-to-action budgets and integrated analytics and tracking. Pinterest features “Rich Pins” that let brands spotlight their products to consumers. And just about every other social network offers some form of an imbedded advertising toolkit.
According to a related report on social shopping statistics by Sprout Social, social networks are starting to adapt their marketing engagement toolsets to meet the growing demands of the brands that utilize them for awareness. Companies like Twitter are toying around with features like a “Buy Now” button to see if such an embedded feature attracts stronger engagement in the conversion funnel. And Facebook is also playing around with call-to-action buttons as well, in attempts to further increase the conversion and referral potential.
Mobile Social Shopping at a Glance
Mobile social shopping is drastically increasing each year as well. As the technology powering smartphones becomes increasingly sophisticated – including newer encryption technologies that safeguard shoppers’ confidential information – consumers are starting to feel more secure making a mobile purchase; something that is fueling a new trend in this demographic.
There are over 100 million mobile shoppers in the U.S., according to Statistica. The think tank has projected that this number will increase by over 49%, to about 150 million by the year 2018. In 2014, this mobile shopping demographic spent an estimated $17 billion online, telling of how powerful the buying power of mobile users is.
One of the most powerful ecommerce social tools you can use are digital coupons. They factor into a large segment of social media ecommerce statistics for mobile users.
Infographic: Social Shopping Statistics 2015
Take a look at this detailed infographic on social shopping statistics that we’ve created to help better illustrate how these factoids play a strong role in the conversion funnel and in online shopping in general. You’ll quickly see that a strong social presence for your brand is no longer a consideration during the modern age; it’s a mandatory marketing staple.