Last week, I blogged about Internet Retailer’s Top Social Media 500 study. The report was particularly encouraging for small e‑retailers who are nimble with respect to social media. A new report from Javelin Strategy & Research reveals more details about who is shopping on social sites and how much they’re spending. These statistics are important for vendors who own space on social sites and for those that advertise there.
Javelin analysts have determined that 62 million consumers made at least one purchase on a website after clicking through from a social network last year. In fact, analysts have linked about 1% of online Black Friday purchasing to traffic driven by social networks. Experts believe these numbers will rise. Consumers who are most likely to find their way to an online purchase through social media are:
- Gen Y 27%
- Female 14%
- Male 23%
The data indicates that these consumers are purchasing electronics (12%) and music downloads (8%) after discovering them on social sites. It also turns out that specific types of consumers frequent specific social sites and are exhibiting patterns in how much they spend. Facebook can claim to be ubiquitous as it taps into a large cross-section of the U.S. The average purchase made at websites with referrals from Facebook is about $54. However, the crowd the frequents Pinterest, known to be predominantly female, likes to spend more. The average order placed at a website that is reached by Pinterest shoppers is $123.50.
"The use of geolocation, social networks, and mobile purchasing is a triple play that retailers can use to improve the point-of-sale retail experience," said Nick Holland, Senior Analyst, Payments at Javelin Strategy & Research. It seems when the point-of-sale takes place online, the connection to social media is increasingly important.
Are you working with online retailers to help them increase their visibility? Are you recommending an increased emphasis on social media?