Social Commerce (July 2011)
Insightful presentation by JWTIntelligence, based on their in-depth report looking at the current state of social commerce in the US and UK.
A few highlights:
- F-Commerce is real. Some predict that 10-15% of total customer spending will be funneled through social sites in the next five years.
- Some brands placed their whole store on Facebook but most brands are dipping a toe into F-commerce with limited time or limited-edition sales.
- F-Commerce might take off quickly for “high-consideration goods” (Electronics, Sporting Goods and Baby Gear).
- Common Facebook privacy concerns might throttle growth.
- Overlaying the social graph on e-commerce is an emerging trend.
- Hyper-personalization based on social expressions is a desirable feature.
- Brands have to walk a fine line between refining the experience to be even more relevant at the same time ensuring consumers feel their information is safe and secure.
- Retailers are beginning to overlay the social graph at brick-and-mortar locations.
Explore the presentation and the in-depth report. Well worth your time.
uwehook 