Rise of-social-commerce


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Social Commerce is an ambience for consumers to drive in better engagement. While shoppers indulge in smart buying, brands interact with them to give them a tailored experience.

Marketers are discovering that social commerce helps overcome some of the biggest marketing challenges, awareness, education and trust/influence. Consumers trust their friends and when friends are engaged with a brand or business that makes an impact across the social graph. As an added benefit, social commerce and social communications regarding shopping behavior has been shown to be highly correlated with SEO performance. That makes a great social media marketing strategy all the more important.
If you often meet up at the mall with your friends and share secrets about bargains, then you’ve been doing social commerce. Doing this online requires the confluence of three huge worlds – social media, online shopping and mobile apps. It’s still a work in progress, and experts have their own insights on the same.

Know more on what ecommerce experts are saying and how can you get social commerce forces to work for you here http://bit.ly/16dvIQW.

Also download our quick Cheat Sheet here: http://bit.ly/1aYcG2K

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Rise of-social-commerce

  1. 1. 7. Social Shopping Shopping that includes chat and forum features for people to discuss, exchange advices and opinions. Its almost like the offline shopping! 2009 2011 Over 5,000,000 2.0version released 50,000 mobile app users Takes Social Shopping To The Next Level t h i s S e p t e m b e r Members “Live feed” to share what they buy 10M within one year of launch Items exchanged 6. Crowdfunding/Crowdsourcing : Consumers become an active part in the production process through voting, funding and collaborative designing. 5. User-Curated Pick Lists : Sites focussing only on shopping; users create lists of products and services for other people to shop from. 2009 2012 2010 $600MValued at f r o m U K r e t a i l e r s 700,000 products 1M + monthly unique visitors $1M +in sales every month Approx 4. User Review Sites : Sales are driven through product reviews by other purchasers, service reviews, and/or rewarding individuals for sharing the same on their social profiles. 1994 2012 2004209 Million 500 points= 5 pounds Active users Social sharing gives 3% of friends spent value in points 3. Daily Deals and Group Buying : If enough number of people agree to purchase something, the products and services are offered at a reduced price. SOCIAL COMMERCE T H E R I S E O F SOCIAL COMMERCE T H E R I S E O F Evolution and Statistics Social commerce is the evolution and maturation of social media meets shopping. Actionable marketing expert @heidicohen Heidi Cohen Types of social commerce: "Social Commerce" $1.2 trillion The term was first introduced by Global ecommerce sales to top in Nov, 2005#1 #2 $373.03 $580.24 2012 2016 NORTH AMERICA ASIA PACIFIC 100 200 300 400 500 600 0 $315.91 $707.60 2012 2016 100 200 300 400 500 600 700 0 $255.59 $387.94 2012 2016 100 200 300 400 500 600 0 $40.17 $68.88 2012 2016 10 20 30 40 50 60 0 $37.66 $69.66 2012 2016 10 20 30 40 50 60 7070 0 $20.61 $45.49 2012 2016 10 20 30 40 50 60 0 Share purchases on social networks Source : emarketer, June 2013 Source : mediabistro Consumers said that watching user-generated video reviews helped them make a purchase decision #3 #4 #5 rely on social networks to guide purchase decisions 74% 75% 55% WESTERN EUROPE CENTRAL & EASTERN EUROPE LATIN AMERICA MIDDLE EAST AND AFRICA B2C eCommerce sales worldwide, by region (Billions) 1. Online Marketplaces and Auction Sites : Markets that are community-based where two individuals engage directly in buying and selling. 1994 2005 2011 1995 2008 22%increase in NET SALES 800,000 online shops 5 $13.9M cities 10,000 car owners SeriesBfundingraised 15M one of a kind items $18.3 B sold in goods 75%users come by Word of mouth excluding vehicles ( 2012 - 2013 , second quarter ) ( 2013 , second quarter ) 2. Social Network Shops and Shopping Apps : Sales that are referral driven on established social platforms; i.e. through a "shop" tab on Facebook. 2004 2007 2006 2010 2010 1 Million + 250M Page views 25% 33%Follow a brand more engagement than any other social platform 70M users 33M New posts 67 % buy from brands they follow Takes 41% of ecommerce Advertisers {Typical Day on a 41%37% 2000 2008 2007 2009 $8,774,411 raised 44,000 campaigns $99M successful dollars $788M pledged $100 M in revenue (2012) 40% growing rate per year 48,606 successfully funded for over 1200 artists worldwide 2007 2010 2008 2011 $20Amazon gift Card 13 CitiesCurrently in 1.3 m Deals sold in 24 hours in 2011 $5 Millionbacked with 50M +people Downloaded most popular deal was $20 Groupon Apps Worldwide worth of Powell's Books for a mere $10 positive reviews impact their company buying choices 90%USERS SAY + Presented by © Copyright 2013 StartupsFM R E C O R D B R E A K I N G D E A L ! ! ! ecommercebytes, theVerge, AngelList, CNNMoney, Amazon Press Release, Pinterest for business Sources : ysearchblog, Facebook-Q2 Report, Twitter blog, mediabistro, readwrite, L2ThinkThank, Practical ecommerce Sources : Sources : ChannelAdvisor, Merchant Warehouse Infographic Bloomberg, Techcrunch, FashionBust Sources : TNW, GroupOn press release, Techcrunch Sources : Modcloth press page, Kickstarter stats, StartupsFM, Threadless Sources : Listia, NYTimes, Wikipedia myshoesspeakitalian Sources : http://startups.fm yoda@startups.fm Influencing how people spend for shopping online Social Commerce is an ambience for consumers and an engagement engine for brands. While shoppers indulge in smart buying, brands interact with them to give them a tailored brand experience.