More Retailers Should Sell Through Social Media

BY Rachel Cagle
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"According to social commerce platform Poshmark's 2020 social commerce report, 58% of consumers said they were comfortable with buying goods via social media rather than a company's website, while 75% said they would buy something directly from a person online, reports Retail Dive."

"The report also found that 57% of consumers discover new brands via word of mouth, 41% of them through influencers and 33% through social media marketing."

"The survey of roughly 8,500 consumers was heavily weighted toward Poshmark users, which made up about 6,500 of the respondents. It also included internal data from the company's 60 million users. The company, which also added statistics on its users' purchase patterns and sales in the report, points to Poshmark's growth as a reflection of the movement toward social commerce and resale."

"Poshmark also may be onto something regarding the rise of social commerce. PayPal's analysis of Canadian consumers found that 40% of consumers anticipated shopping on social media and mobile apps during the 2019 holiday season. Poshmark's report found that 57% of Gen Z discover new brands via influencers on social platforms, and 34% of Gen Z consumers get their style inspiration from social media influencers."

Not surprisingly, Social Network Ad Responders are receptive to a variety of digital advertisements, not just social media. According to AudienceSCAN, last year, these consumers took action after seeing sponsored search results, receiving email ads and seeing internet banner ads.

AudienceSCAN data is available for your applications and dashboards through the SalesFuel API. In addition, AdMall contains industry profiles on casual clothing stores and pet stores, as well as lead lists at the local level. Media companies, sales reps and agencies can access this data with a subscription to AdMall from SalesFuel.