How Social is Affecting Online Purchase BehaviourPosted: November 17, 2010 | |
I recently came across a very interesting presentation about social ecommerce called “The Social Shopping Explosion”, by Immediate Future. One of the main point of the slides was about how social is changing our online purchase behaviour and how brands are reacting to it.
Think about it, go back a few years (say five). Back then, when you needed a new pair of shoes (and you were just a bit online savvy) your typical journey would have probably looked like this:
“ I’m a strong believer in the rise of the importance of social shopping / social commerce (depending on where you look at it from, the buyer perspective or the seller’s) and in its becoming truly mainstream in the next 18 months max. I also believe that those forward looking brands that are positioning themselves now on this emerging channel will rip most of the benefits when buying from a Facebook page or by clicking on a YouTube video will hit prime time. And it won’t be long…We’re clearly going to a direction where anyone (retailers included) fights against each other for 2 scarce things: time and attention. And it’s also clear that there are some new internet giants, Facebook first and foremost, attracting vast audiences and countless hours of web browsing. Therefore it’s essential to benefit from the rise of these new giants rather than going against them with a surpassed strategy (being only a stand-alone destination site doesn’t really work anymore in the current environment).At Wishpot we’re seeing numbers growing constantly, not only for sales originated via Facebook and Twitter, but also for engagement metrics. In fact in social commerce there is an amazing underlying opportunity to create brand advocates just by enabling people to carry the brand’s products to their friends in a genuine and spontaneous way. Also, we’re seeing much more interest and understanding from retailers compared to a year ago, which means that among all the catch phrases and buzzwords more and more e-commerce and marketing directors are getting used to the idea of using social media as a way to drive money and better ROI to their company.”
Will Google succeed in its social move? I am long Facebook and short Google…