Understanding the social commerce behavior of millennial generation is of foremost importance for retailers to engage effectively with them and to convert them into loyal customers. - Jai Rawat, CEO, ShopSocially
Mountain View, California (PRWEB) March 31, 2014
ShopSocially today released an infographic with insights into social purchase sharing behavior of millennial, a demographic cohort born between 1980 and 2000. Purchases shared socially by females from millennial generation contribute to 52.63% higher referral traffic than males for internet retailers.
Also referred to as Gen Y, millennial generation is estimated to have a combined purchasing power of $2.45 trillion worldwide by 2015, making them an important target segment for Internet retailers. “Millennial are a tech-savvy generation and are always connected on social media. They are driving the social commerce worldwide and retailers are exploring newer avenues to convert their Likes, Tweets, Pins into sales.” commented Jai Rawat, CEO, ShopSocially. “Understanding their social commerce behavior is of foremost importance for retailers to engage effectively with millennial and to convert them into loyal customers.”
ShopSocially study revealed interesting observations into social purchase sharing behavior of Gen Y and Gen X (demographic group born in the early 1960s to 1970s), as listed below:
Insights into Social Purchase Sharing:
- Average number of purchases shared by Gen Y males is 1.50 whereas this number for Gen X males is 1.18
- 80% of Gen X females are likely to share purchases on social media. This number is slightly lower at 62.6% for Gen Y females
Insights into referral traffic generated from social purchase sharing:
- Millennial females result in highest number of referral clicks per shared purchase
- Referral clicks from a socially shared purchase by millennial females is 52.63% higher than those from millennial males
Insights into influence of purchase sharing by socially popular millennial users:
- Millennial with more than 900 Facebook friends generate 3.95 times more referral traffic to retailers than those with less than 100 Facebook friends
Purchases shared socially by customers create valuable word-of-mouth endorsements for brands, increasing their viral spread. Retailers can bring in these social comments back on their stores as social proof to drive sales conversion and increase revenue. Several leading retailers are using onsite social commerce modules from ShopSocially to promote social sharing of purchases among millennial generation on their stores and are gaining healthy increase in their social ROI. ShopSocially infographic on social purchase sharing behavior of millennial provide deeper insights for retailers to derive maximum benefits from social commerce trends of millennial generation.
ShopSocially is a leading social commerce platform driving millions of dollars in incremental revenue, new customer acquisition, improved SEO rank, growth in Facebook fan base, and word-of-mouth branding for 100s of top brands.
ShopSocially platform enables a suite of onsite social apps for ecommerce sites. Examples of these apps include purchase sharing, fan acquisition, shopping community, social SEO, social photo testimonials on mobile and more.
ShopSocially has won several awards and has also been featured by Facebook in a Social Commerce case study. Launched in Oct 2010, ShopSocially is a privately held company in Mountain View, CA.
For contact information, please visit http://shopsocially.com/platform/request-a-demo.html.