29 Statistics proving how social commerce is affecting retailers

29 Statistics proving how social commerce is affecting retailers

Social commerce is a powerful force in retail marketing.

The use of social media to buy and sell goods and services is broadly defined. Social commerce now includes social media marketing, ads, ratings and reviews, as well as in-app social content shoppable.

Stackla has expanded this definition by allowing brands to easily find and feature compelling and pertinent user generated content (UGC ) directly from the social web making the content shoppable with customizable ShopSpots which help to reduce the path to purchase.

In today’s world, where there are more channels than ever for people to discover, research and purchase products, marketers supremely value the ability to expedite the buyer’s journey — and social commerce, in all its forms, does just that.

It can work out in the best interests of both retailers and consumers if done correctly. The customer has a seamless shopping experience that is relevant and helpful. Additionally, the retailer gains trust and makes quick sales to the right person at right time.

Social commerce is revolutionizing retail marketing. We’re bringing together the most important stats on social commerce that show just how powerful it is and will continue to be.

Social Networks Drive Product Discovery

  • 60% people find new products on InstagramInstagram )
  • 200+ Instagram users visit at minimum one Business Profile per day ( Instagram).
  • 130,000,000 Instagram users tap shopping posts to learn about products every month ( Insta).
  • 78% U.S. customers say they have found products on FacebookCuralate ).
  • 77% Every week, Pinterest users discover a new brand or product ( Pinterest ).
  • 66% Many consumers are inspired to buy from a new brand by seeing images on social media from other customers ( Stackla).

Social Content Has Influenced Consumer Purchasing Decisions

  • 87% People say that social media helps them make a purchase decision ( 16Best.net )
  • 79% believe UGC has a significant impact on their buying decisions. 12% and 9% both say branded content, but Stackla only and 9% claim influencer content.
  • 59% consumers believe user-generated content to be the most authentic. 88% consumers agree authenticity is crucial when choosing brands they support and love (with half saying authenticity is very important (Stackla).
  • 62% People said they became more interested in a product or brand after viewing it in Facebook stories ( Facebook ).
  • If the page contains pictures from social media, customers are 6x less likely to buy a product. (AdWeek)
  • 55% American consumers have purchased a product online following social media discovery ( Cualate).
  • 83% Of weekly Pinterest users, 83% have made a purchase based upon content they saw on Pinterest ( Pinterest).
  • 80% Consumers say that they would be more inclined to buy a product online if it had photos and videos of real customers ( Stackla).
  • 65% consumers have bought apparel or fashion items based upon UGC from actual customers ( Stackla).
  • 53% consumers have bought beauty, health, or wellness products based upon UGC ( Stackla).
  • 42% consumers have bought home or sporting goods based upon UGC ( Stackla).
  • 58% Many consumers have abandoned ecommerce stores without buying because they didn’t see any photos or reviews from customers ( Stackla ).

 

Social Commerce Enhances Retail Engagement, Personalization, and Sales

  • 49% of social commerce retailers say that it allows them to personalize customer experiences based upon behavior and improve visibility of product listings ( eTail / Stackla
  • 89% The majority of U.S. social refer traffic to eCommerce websites comes from Facebook, 10.7% from Instagram, and 8.2% from Pinterest (Adobe).
  • When mobile shoppers see positive customer content such as reviews ( Bazarvoice), retail conversions are 133%.
  • 47% Generation Z says they are more likely to buy from a brand if it shares their photos and videos in its marketing ( Stackla ).

Retail Brands Are Embracing & Advancing Social Commerce

  • 50% Many retailers are trying to integrate social media advertising into their overall eCommerce strategyeTail / Stackla
  • 75% Retail brands will increase their social media marketing investments within the next 12 month ( eTail / Stackla).
  • Instagram is the preferred platform for 92% retailers involved in social commerce. It is followed by Facebook (77%), Twitter (57%), Pinterest (47%), and Stackla .
  • In 2020, Instagram is projected to generate $12.32 Billion in advertising revenue. Facebook is projected to make $21.39 Billion in U.S. ad revenues in 2020 ( eMarketer).
  • Social media advertising will account for 13% global advertising spend. It is also expected to rank third behind TV and paid-search ( Zenith).
  • U.S. marketers spend 69% on Instagram newsfeed ads, and 31% for paid Stories ( eMarketer).
  • In 2019, Pinterest generated more than $1B in advertising revenue ( Statista).

source https://www.nosto.com/blog/social-commerce-stats/