Facebook

Mobile ads and solid user growth across its suite of apps contributed to a strong first quarter for Facebook.   For the quarter ended March 31, revenue rose 49% to $8.03 billion, from $5.38 billion in the same period a year earlier. This surpassed analyst predictions of $7.83 billion. Based on this quarter’s earnings, Facebook has exceeded analyst expectations for eight straight quarters.   

Facebook is proving social media does in fact influence brick-and-mortar sales.   The social media giant offers a feature that enables users to scan a personalized QR code to nab discounts when they buy something at specific brick-and-mortar locations, reported TechCrunch.    The Rewards feature, which is discretely tucked away under the More tab of Facebook’s mobile app, has been in test mode for a few months, according to the report.  

Facebook is scaling back its first big brick-and-mortar retail push.   The social media giant is closing approximately 200 of its 500 Oculus virtual reality (VR) pop-up stores operating in Best Buy locations across the United States, Business Insider said.    Facebook launched the program in 48 stores last May, and the technology — which was available for demonstrations and sales — was rolled out to 500 stores in August, Engadget said.  

Wayfair Inc. has launched an in-house developed virtual reality app to help customers plan their outdoor patio area.    The retailer’s new Patio Playground application uses Facebook’s Oculus Rift platform, Developed by Wayfair Next, the company’s in-house research and development team, the app allows shoppers to immerse themselves in an inspirational landscape, where they can explore, rearrange, and discover furniture and décor from Wayfair’s catalog.  

It seems safe to say the novelty of shopping online has worn off.

According to a new study examining the online shopping and purchase habits of the U.S. population from e-commerce platform BigCommerce, 96% of Americans are shopping online. E-commerce customers spend an average of five hours per week making online purchases and allocate an average of 36% of their shopping budgets to e-commerce.

Respondents ranked online shopping ahead of smartphone GPS and streaming media as a basic essential they could not live without.

The world’s largest social media network showed its chops in the first quarter, reporting impressive increases in revenue, earnings and users that shattered analysts’ expectations.

Facebook reported $2.2 billion in profit for the quarter, ended March 31, up from $1.8 billion in the year-ago period. Revenue totaled $5.38 billion, up 52% over the year ago period.

A department store and a beauty specialty retailer have the best momentum in social media going into the holiday season. Meanwhile, an online giant is losing steam.

Consumers are making more e-commerce transactions, and smartphones are helping to drive growth.

According to the new Q3 2015 Performance Index report from e-commerce technology platform MarketLive, e-commerce sales continue to improve across all retailer categories (apparel, beauty, home furnishings, catalog, brick-and-mortar, and brand-direct), and across all major performance metrics. These include revenues (+13.5%), traffic (+19.8%), and average order value (+3.9% to $158).