Social Media

When it comes to buying products, consumers are particular about who and what they trust to get advice.

According to a survey of nearly 14,000 adults conducted in early March by social retail technology provider Collective Bias, Facebook and YouTube are the most persuasive social channels for consumer purchases. About 19% of consumers find Facebook to influence their purchasing decision most, with YouTube coming in second at nearly 18%. YouTube is especially popular with men (23%) compared to women (14%).

When it comes to generating e-commerce revenue, retailers should focus heavily on customer retention.

According the fourth quarter 2015 E-commerce Quarterly report from online marketing technology provider Monetate, despite making up less than half of all e-commerce sessions (48%), returning visitors spent nearly $5.3 billion online. That figure is almost twice as much money as new visitors spent during the same timeframe ($2.7 billion).

Social retailing is nothing new, but more retailers are starting to experiment with launching their own proprietary social media offerings.

Leveraging its status as a leading lingerie retailer, Victoria’s Secret has released the 2016 edition of its “What is Sexy?” list compiled with social media input to support the launch of several new product lines.

E-commerce platform Shopify wants to help retailers engage customers, regardless of location or platform.

Having already launched integrations with major social networks such as Facebook, Twitter and Pinterest, Shopify is branching out in a big way. The company is allowing developers to build new connections it calls “sales channels,” which can include links to apps, platforms and digital marketplaces.

Online home furnishings retailer Wayfair Inc. is having success with a proprietary feature that may have been inspired by one of the hottest emerging social platforms.

According to Wayfair, its Idea Boards feature is growing rapidly in popularity, especially among users of the retailer’s mobile app. Idea Boards is an online tool that enables customers to save and organize their favorite Wayfair products in one location.

It’s been more than 15 years since they started ringing the death knell for brick-and-mortar retail. And although the Internet shopping base continues to grow, the in-store experience is here to stay. Even the doomsayers have quieted during recent years. There are simply too many things about in-store shopping that the online experience can’t offer.