SocialMedia Shopping Trends (November, 2013) | ||||
Shopping | Polyvore | |||
Total shopping sessions | 4.31 Mil | 1.41 Mil | 1.1 Mil | 0.32 Mil |
Avg. share of traffic | 60% | 20% | 15% | 5% |
Avg. conversion rate | 2.69% | 1.17 | 0.96% | 0.49% |
Avg. order value per session | $199.16 | $393.34 | $92.77 | $58.02 |
Total sales from social sessions | $10.7 Mil | $6.34 Mil | $2.1 Mil | $0.93 Mil |
Source: RichRelevance, November 2013 |
Although social channels account for less than one percent of total online shopping sessions, some trends remain and others have emerged. Of all social sites, Facebook produces more than three times the number of sessions and 10 times the number of orders than the next most prolific social site, Polyvore. Pinterest has been gaining ground on Facebook with 25% of social shopping sessions (up 14% from last year) and now generates more than double the average order value (AOV) of Facebook. Twitter continues to produce the smallest numbers across the board. Other key findings include:
Facebook Dominates Social Shopping Sessions
Facebook Leads Conversion and Orders
Polyvore Drives Highest AOV(Polyvore is a community powered social commerce website. Members curate products into a shared product index and use them to create image collages called "Sets". Wikipedia)
David Selinger, CEO of RichRelevance, concludes that “… While social shopping remains a small percentage of total online commerce… there are key trends that retailers can glean from consumer habits and preferences in these channels… key takeaway is that each social channel is unique… “
Diane Kegley, RichRelevance’s Chief Marketing Officer, adds “… Pinterest and Polyvore attract a different shopper… the user experience is predicated on highly visual, catalog-like sites… (and) Polyvore attracts an audience of predisposed shoppers… “
N.B. The study includes only browser-based shopping sessions and does not include shopping that may originate from mobile app versions of these platforms. Sessions are defined as Facebook, Pinterest, Twitter, or Polyvore respectively, if the referrer for that session originated from that site
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Though the information here is interesting I would like to know how the researchers compiled the data and definitions of the measures.
Facebook is certainly driving high conversion rates, and advertisers on the Facebook Exchange (FBX) see as much as 2X higher CVR than what's mentioned in this article. Here's some interesting year-over-year FBX performance data, showing the rise in conversion rates and CTR, and drop in CPC.
http://bit.ly/1gaDIWb