This document discusses the rise of social shopping and how it is evolving through three phases. Social Shopping 1.0 involved the growth of social networks and user reviews. Social Shopping 2.0 saw the rise of user-generated content and crowdsourcing platforms like YouTube, blogs, and Yelp. Social Shopping 3.0 focuses on leveraging the crowd to drive revenue by putting the crowd to work, enabling social shopping with friends, creating influencers, using location data, and bringing products to social media sites.
2. 51% considered information shared on their networks when making a purchase decision--eMarketer The average consumer mentions specific brands over 90 times per week -Keller Fay, WOMMA 81% received advice from friends related to a product purchase through a social site --Click Z THE BANDWAGON HAS OFFICIALLY ARRIVED By 2014, 53% of total retail sales will be affected by the Web --Forrester 74% who received such advice found it to be influential in their decision --Click Z
3. Loss of Brand Control Negative Comments Greater Competition SOCIAL SHOPPING CAN POSE THREATS…
4. Customer Insight Acquisition Engagement Trend Spotting …BUT ALSO REPRESENT GREAT OPORTUNITY
5. Jeff Bezos Mark Zuckerberg Mark Pincus SEVERAL “INFLUENTIAL” INVESTORS AGREE
11. Over 350,000sites have already installed Facebook like button. ABC News traffic from Facebook rose 250% after Like button. 86% of United States online retailers have Facebook fan pages. 41% of people ‘like’ pages to show friends brands they support. Facebook users spend over 700 Billion minutes per month there. 30 Billion pieces of content are shared on Facebook per month. The average Facebook fan is worth $136.38 to a brand annually. The top 10 brands on Facebook added 115 Million fans in 2010. Facebook added 7.9 new accounts every second in 2010. P&G: 1,000 transactions/hour on the Pampers’ Facebook page. Facebook shoppers have 7%-10% larger shopping carts. THE FACEBOOK EFFECT
12. Over 350,000sites have already installed Facebook like button. ABC News traffic from Facebook rose 250% after Like button. 86% of United States online retailers have Facebook fan pages. 41% of people ‘like’ pages to show friends brands they support. Facebook users spend over 700 Billion minutes per month there. 30 Billion pieces of content are shared on Facebook per month. The average Facebook fan is worth $136.38 to a brand annually. The top 10 brands on Facebook added 115 Million fans in 2010. Facebook added 7.9 new accounts every second in 2010. P&G: 1,000 transactions/hour on the Pampers’ Facebook page. Facebook shoppers have 7%-10% larger shopping carts. Source: comScore 06/2010 THE FACEBOOK EFFECT Source: comScore 06/2010 Heavy users spend 2.5x more than non users
13. 23,000% 53% Monty Python DVD sales growth after launching YouTube Click to Buy Tweeters recommend companies and/or products IT ISN’T ALL ABOUT FACEBOOK Source: comScore 06/2010 18,000 $3.24B Foursquare users checked in at Target stores on Black Friday Spent on virtual merchandise in Second Life in 2010
21. What can I say? I love to rock. My music taste is eclectic, but mainly rock. I want my store to reflect that. I love everything from Slipknot to Joni Mitchell.
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23. -6 million unique visitors a month -400,000 likes added daily -30,000 new sets are created daily
47. 1. Assign an owner (with executive sponsorship) 2. Understand your customers’ (current or targeted) affinity for/adoption of technology, social networks, etc. 3. Measure your organization’s tolerance for trial (and error) 4. Evaluate your commerce platform and your ability to extend and adopt to new devices, platforms, networks 5. Stay true to – and complement – your core brand values
48. All-Channel Commerce Call Center ClientelingStore Portal Store KioskDigital Signage m-Commerce Pocket Kiosk Social ShoppingTweet Desk Brand_A.comBrand_B.comB2B.com Payment Processing Tax Address Validation Fraud Check WMS Merchandising Customer Catalog & Content Pricing & Promotions Orders Inventory Gift Registry IntegratedSystems/Services Partners andAffiliates Blue Martini Commerce Platform Blue Martini Order Processor · · CONNECTED EVERYWHERE ADAPTIVE Warehouses Suppliers & 3PL Stores