August 2012
Featured in this insight: Consumer goods & FMCG , IT & telecommunications, Retail
Survey shows rapid rise of social media popularity amongst shoppers: A survey on behalf of online auction site eBay has resulted in the estimation that the popularity of social shopping is set to more-than double by 2014.
It is predicted that within the next five years the value of social media sales will more than double from £1.6 billion at present to reach approximately £3.3 billion.
The targeting of consumers with personalised offers and deals on social networks is expected to give UK retail sales made purely through this type of media channel a revenue boost of 44%, from £210 million to around £290 million.
Survey figures demonstrated that currently, 46% of social media users are using sites such as Facebook and Twitter when considering a purchase, while 40% of users also admit to making a purchase following what they’ve read using social media reviews and recommendations.
In addition, almost half of all social media users who took part in the study claimed they interact directly with retailers on social media platforms, which points to their effectiveness at influencing and inspiring purchases.
View more of our sector specific insights: Consumer goods & FMCG, IT & telecommunications, Retail
