Social commerce is the convergence of social media platforms and e-commerce. If you are an online store owner, you need to know what your competitors are doing, whilst simultaneously keeping your finger on the pulse of what your consumers want, and that’s how these statistics can help.
Social media is becoming more and more of an influence when it comes to the consumer’s final purchase decision. Store owners who want remain competitive and succeed within the e-commerce space should pay attention to these 10 important social commerce statistics.
Most e-commerce retailers realise a social media presence is more than just a necessary evil. In fact, social media can be the key to a considerable increase in your sales. Okay, we hear you ask, how considerable? Online stores with a social media presence (of at least one social media account) report on average 32% higher sales volume than those who with no social presence at all.
Evidence suggests that having a social media presence does more than just drive traffic to your website. Using social media solidifies the relationship between your brand and your consumers: both existing consumers and potential ones. Social media also allows you to communicate as often as you like with your customers and should be fully utilised as part of your marketing strategy.
10 Social Commerce Statistics E-commerce Store Owners Should Not Ignore
1. Statistically, e-commerce stores will find less competition on Twitter. Only 60% of e-commerce stores with a Facebook page also use Twitter. So, if your competitors aren’t using Twitter, there is an opportunity for your brand to become an authority in your niche market.
2. Of all the varying social media platforms, Facebook has the highest conversion rate for social commerce traffic (1.85%).
3. E-commerce stores, on average, publish around 4.55 posts each per week on Facebook, (which sits at approximately 0.65 posts/day). However, it is wise to keep in mind that if those who have “liked” your page do not interact with your page’s Facebook posts, due to Facebook’s Edge Rank, they are unlikely to see your posts at all. Storeowners should post more often and aim to encourage community engagement.
4. Social media channels have a direct impact on consumer purchase behaviour. Since 2015, Facebook has influenced over 50% of consumers online and offline purchases.
5. 71% of consumers having had a positive social media experience with a brand will recommend that brand to others. When consumers post about their recent online purchases, 55 percent of people choose Facebook, 22 percent share on Twitter, 14 percent on Pinterest and 5 percent choose to share on Instagram.
6. 78% of people who used Twitter to complain to a brand expected a response from that company within the hour. If you decide to use this platform, this is information to keep in mind.
7. Facebook in miles ahead of other social platforms when it comes to social media sales and traffic. Around 65% of social media visits to Shopify stores originate from Facebook – add to that the fact that an average of 85% of orders placed from social media platforms originate from Facebook, and you can see why Facebook dominates.
8. Style site Polyvore generates the highest average order value, ahead of Facebook, Twitter and Pinterest, which may surprise some.
9. Whether purchasing via social media not, around a third of consumers are conducting online research using social media platforms and mobile apps prior to making a purchase. Even when they plan to make an in-store purchase, more than 80% of shoppers will conduct online research beforehand.
We know from this statistic that consumers, intending and ready to buy, are in the e-commerce space where shrewd e-commerce retailers can prompt a purchase decision before the customer even makes it in-store.
Although websites are still the favored destination for online researchers, social media is fast becoming a destination for those interested in conducting online research before making a purchase.
10. Social media giants Facebook, Pinterest and Twitter all feature ‘buy buttons’ allowing shoppers to shop within the platform with ease. Likewise, Instagram’s click-to-purchase button appears in the bio section. One-click and One-touch checkout is making mobile shopping easier, so it is easy to see why it is predicted that mobile e-commerce (also referred to as m-commerce) will account for around 50% of all online purchases by 2020. (One touch payments are available with PayPal One-Touch, Visa Checkout, Apple Pay and Amazon Pay).
Creating a social presence for your e-commerce store has never been more important. So, how can you use these statistics to propel your business forward?
- First, follow through by engaging with your customers where they are in social media, rather than using social media to push advertisements at them, as is how you will win fans, and fans will recommend your brand to others.
- Next, focus on providing authentic engagement by delivering self-generated content across your social media platforms as this will help your brand build a loyal online community.
- Lastly, knowledge is power. Knowing customers who are ready-to-buy will be conducting research on your brand using social media allows you to construct a sales strategy to close the deal.
If you’d like to discuss ways to improve your e-commerce website, the Pixelfish team would love to hear from you.