The Social Commerce IQ™: Retail, 8thBridge (http://www.8thbridge.com/socialcommerceiq) has analyzed the top 200 retailers on Facebook and ranked them based on their Social Commerce IQ™. We examine how these retailers use Facebook and what strategies are the most critical for success. We believe that retailers with a higher Social Commerce IQ™ create better experiences for their customers.
Insights from the report include:
Social shopping engagement rates are 30% higher than other status updates
Over 35 million people have shared a product on Facebook
35% of people are more likely to buy a product if it has more Likes on the product page
Nearly 60% of Likes on product pages are driven by product owners
22 million people have been driven to make a purchase based on a Facebook recommendation
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