July 22, 2011
Data point: The rise of social commerce
Our new “Social Commerce” report looks at Facebook commerce and other ways in which retailers are using the social graph to engage consumers. As noted in this excerpt from an infographic by Social Media Influence, the first F-commerce transaction was $34 spent on 1-800-Flowers. That was two years ago, but as of April, only around 8 percent of brands had a Facebook page with transaction capabilities, according to the survey spotlighted here.
With about 10,000 websites integrating with Facebook every day since Social Plugins launched in April, the social network is making a major impact in other ways. Reportedly, two-thirds of shoppers spend more online after receiving online recommendations from their online community, and 56 percent of Facebook users say a post has prompted them to click through to a retailer’s website. Booz & Co. estimates that social commerce, currently a $5 billion global industry, will grow to $30 billion by 2015.