The social commerce market report also provides an in depth analysis of strengths and challenges for future growth, and identifies key issues and opportunities for all players in the social commerce ecosystem.
(PRWEB) June 19, 2012
Although social networking and e-commerce have long been in existence, there exists an evolving need for restructuring the two. The merger of these industries has taken the market by storm and is expected to impact the industry profoundly, in the years to come. While both these markets are in their early maturation phases; the combination of these solutions is bound to propel their growth. While social media is rigorously growing beyond advertisements; social commerce is on the brink of expanding beyond an alternative mechanism for payments.
The most influential factor in Consumer Buying Behavior is the social factor that encompasses family, friends, reference groups, and society in general. Social commerce is the concept that includes social interaction and user contributions in the context of e-commerce transactions, to make better buying decisions. To reflect this in the world of online shoppers, the dimensions used are: customer ratings and reviews, user referrals and recommendations, social shopping tools, communities and forums, social media optimization, social applications and advertising. Today, Social Commerce sites such as Facebook, LivingSocial, Groupon, Polyvore, Tabjuice, Pinterest and ShopSocially have begun to gain tremendous market traction, covering almost all industries and verticals. Bundle this evolution with the rapid proliferation of smartphones and social network service (SNS) users, the social commerce market is expected to gain seamless adoption and growth.
The social commerce market report includes market estimation of the overall social commerce, including facebook stores, co-browsing, digital coupons, group buying, local commerce and peer-to-peer (P2P) marketplace. The report also analyzes the growing trends in customer behavior that includes percentage of sales from facebook, conversation rates, voucher driven sales, growth in social influence on buying, growth in recommendation-driven buying, online vs physical commerce change and ratings to sales analysis. The report also provides an in depth analysis of strengths and challenges for future growth, and identifies key issues and opportunities for all players in the social commerce ecosystem.
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