On the one hand, Baynote’s recent Holiday Shopping Experience Survey showed that 80 percent of consumers were not influenced by social networks over the holidays. On the other hand, 20 percent reported purchasing a product on a retail website after receiving a special offer or promotion on Facebook. While these numbers certainly didn’t live up to the hype surrounding social commerce, they still indicate a big opportunity for retailers.
In addition, while only 9 percent purchased a product on a Facebook fan page, 55 percent said getting advice on products from friends was important, indicating retailers are missing an opportunity to exploit the social graph. However, the real opportunity does not live on Facebook, per se. Those retailers that effectively integrate social graph data and features into their own websites to better personalize the shopping experience will win big. See my recent article about this topic in MultiChannel Merchant.
Interested in learning more? Be sure to read our study for additional findings on social and numerous other topics related to the online shopping experience over the recent holiday.