Social commerce is becoming a large driver of online shopping. User-generated content around shopping can have some major impacts. But just how large will the market become, and what tools are most-used by the big players? An infographic from Invesp.com lays out some interesting data about the growth of social shopping.
Social commerce is already an industry that generates billions of dollars. In 2013, it generated $ 5 billion in sales, and is estimated to generate $ 9 billion in 2014. By 2015, projections put the number around $ 15 billion. In fact, social commerce could reach five percent of total online spending by then.
If businesses hope to capture some of this revenue, they’ll need to bring their sites in line with the top 25 players in the field. Something as simple as a Facebook like button only appears on 58 percent of all websites, but the button appears on 86 percent of e-commerce sites. Most websites lag behind e-commerce sites in all social metrics, especially social shopping tools.
Social shopping applications appear on 86 percent of top e-commerce sites, but only eight percent of other sites. Social login integration shows a similar problem, with a 67-percentage-point gap between industry leaders and others.
To see the impact reviews have on product prices, which retailers generate the most traffic from social networks, view the infographic below:
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