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Welcome to our recap of the articles we find most interesting on social commerce, mobile commerce, ecommerce apps, startups and platforms. Enjoy!
- The 7 Species of Social Commerce. Social commerce denotes a wide range of shopping, recommending and selling behaviors. According to Gartner, 74% of consumers rely on social networks to guide their purchases.
- 4 Startups Revolutionizing Social Commerce. Social media has changed the way we shop online, and the statistics confirm it. About 81% of consumers receive advice from friends and family relating to a product purchase through a social networking site. And the majority — about 74 % — of consumers rely on social networks to guide their purchases.
- Social commerce is like a unicorn: beautiful, alluring, and almost totally imaginary. In fact, social media referrals represents just 1.55 percent of all traffic to major e-commerce destinations. And when that tiny trickle of traffic arrived, only .71 percent of it actually results in any kind of sale. Email marketing, by contrast, generates twice as much traffic as social media, and has four times the conversion rate to sales.
- What the Heck Is P-Commerce? Marketers have gleefully affixed various letters to the word “commerce” to describe sales (or the potential for sales) made through different platforms: m-commerce for mobile, f-commerce for Facebook and p-commerce, which I’ve discovered recently, is an abbreviation for both “participatory commerce” or “Pinterest commerce.”
- The Social Commerce Boom: What The Power Players Say. Social commerce sales topped $9 billion
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in 2012 and should exceed $30 billion in 2015. 40% of Twitter users regularly search for products via Twitter, 12% of consumers purchased a product online because of info on Twitter, and 60% are willing to post about products/services on Facebook if they get a deal or discount.
- Cleanup in Aisle 3: How Retailers Will Avoid Slipups in the Digital Age. As we move forward, retailers will figure out how to embrace consumer engagement. Instead of maintaining one corporate social media page, we can expect to see a much more nuanced approach, with local stores creating individual profiles where they can interact with local shoppers (they just have to figure out how to staff them).
- Ecommerce Quarterly (EQ) – An analysis of how emerging trends are shaping ecommerce. This unique and exclusive report analyzes more than 500 million online shopping experiences.
- Alibaba and China’s Twitter form social commerce partnership in $586M deal. This could be an interesting predecessor to similar relationships between Twitter and e-commerce sites like Amazon and eBay in the U.S. The companies will focus on “social commerce,” sharing data, learning the best ways to go about payments online, as well as marketing, according to the Wall Street Journal. Weibo could see up to $380 million in new revenue as a result of the partnership.
- 2013 will separate the strong from weak in mobile commerce.We’re at a crossroads as brands move away from the “test phase” in the mobile space and toward real adoption into the marketing mix. Consumer smartphone adoption is approaching saturation, and the media consumption shift to mobile as the “new first screen” is hitting full stride.
- Mobile Becoming Moms’ Daily Shopping Companion. According to a March 2013 survey from retail solutions company Alliance Data, more than half of surveyed mom internet users reported using their smartphone or tablet at least weekly for some aspect of shopping, whether it be research or buying. And 35% of respondents said they used their device daily for shopping purposes.
- What do shoppers actually want from a mobile experience? First impressions count. Mobile sites have come a long way since their introduction around three years ago. The very first mobile optimised retail sites made it clear that it was all about functionality; homepages were pretty much just large, clear navigational links ready to take users off to where they wanted to go.
- How Mobile Coupons Are Driving An Explosion In Mobile Commerce . As recently as late 2010, mobile commerce was only 3% of e-commerce. By the end of last year’s holiday shopping season, that number had risen to 11%, according to comScore. That’s approximately $18.6 billion in consumer spending – and that doesn’t even include travel-related purchases, which comScore counts separately.
Shopping Apps and Platforms
- Ibotta is a fun and exciting way to earn cash every time you shop.
- BevyUp – the ultimate goal is to recreate the social shopping experience of bricks-and-mortar retail at e-commerce sites, injecting some of the social elements found when shopping with a friend. The service allows two or more people to shop together online, utilizing text messages, emails, video chat and other communications tools.
- Shopperception analyses the shopper’s behavior in front of the shelf, generating metrics and real time events to drive more conversions.
- Backed By $1.3M, Social Commerce Startup Getonic Looks Beyond F-Commerce, With ~5,000 SMBs, 15 Corporates Signed Up To Sell. There’s a wealth of startups trying to help businesses monetize social channels — including the likes of beetailer, Ondango and Soldsie, to name three – though many specifically focus on Facebook (so-called ‘F-commerce’ startups). Getonic is certainly targeting Facebook but has widened its net to include different social outlets — name-checking Twitter, Pinterest, plus “blogs and email” as other social spaces where its ecommerce widget can be posted. An example of the widget is pictured below.
- Fast-growing Solavei scores fresh cash, aims to top $100M in revenue. “Solavei Marketplace will provide our members, in addition to having mobile service, the opportunity to save and earn income from many of the same goods and services brands that they are already using,” said a company spokesman. “This next phase continues to fulfill our mission of being a social commerce company.”
- Zulily – the winners of the 2013 GeekWire Awards. While daily deal sites such as Groupon and LivingSocial have faltered, Zulily has continued to grow its e-commerce business with a laser focus on providing unique products to busy moms. With more than 600 employees, Zulily raised $85 million at a $1 billion valuation last year from Silicon Valley power broker Andreessen Horowitz.
- What’s up with Lockerz? Lockerz appears to be unlocking its next chapter. The Seattle social commerce startup is behind a service called Ador, a new online fashion site where
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shoppers can “get new arrivals & sales alerts from your favorite stores.”
- Yabbly Is Like Quora Specifically For Shopping Questions. Yabbly, an iPhone app that launched in beta late last year, prompts users to describe their specific situation and concerns about a particular product or purchasing decision. Based on that information, Yabbly matches the user with others in the community who have similar interests or may own the product. From there, Yabbly creates a customized thread online and through the app of people who can respond to your shopping question.
- Boxes brings order to your belongings, with a beautiful photo-based e-commerce iPhone app. Boxes isn’t all about buying and selling stuff, it pitches itself as something like a photo-based social network for ‘things’ – one that just happens to have e-commerce built in to the core.
- 12 Trends That Will Shape The Future of Commerce
- Social Shopping Video Series by Havas Media
- What Social Shoppers Want
- 20 Things You Need To Know About Mobile Commerce
- The State of Social Shopping. Episode 4: Industry Mavens
Social commerce sales topped $9 billion in 2012 and should exceed $30 billion in 2015. 40% of Twitter users regularly search for products via Twitter, 12% of consumers purchased a product online because of info on Twitter, and 60% are willing to post about products/services on Facebook if they get a deal or discount. Source.
AlwaysOn Network presented the OnMedia NYC 2013 event held on March 18-19, 2013 in New York. Jeffrey Holmes. The session we’d like to feature on Pikaba blog uncovers the winning social commerce tactics and strategies circa 2013. Enjoy!
What It Takes to Win in Social Commerce
- Host: Babak Yaghmaie, Partner, Cooley LLP
- Chantel Waterbury (@chantelchloe), Founder & CEO, Chloe + Isabel
- Tommaso Trionfi (@tommasot), CEO, Merchantry
- Manish Chandra (@marrc), Founder & CEO, Poshmark
About AO TV – AlwaysOn Network
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leading business media brand connecting and informing the entrepreneurial community in the Global Silicon Valley. AlwaysOn editorial and event programming covers the booming areas of digital media and entertainment, ondemand and cloud computing, mobile technology, and greentech. Today, AO TV produces some of the highest quality, graphically powerful video content in the business-to-business media world. AO events are filled with powerful thought leaders eager to give their opinion.
Related social shopping videos:
- Smith Business Close-Up: Mobile Commerce Trends
- Social Shopping Video Series by Havas Media
- Polyvore CEO: Community Gives Us Tons of Data
Mobile commerce involves the marriage of secure mobile transactions with a huge mobile user growth.
Ecommerce and online sales have revolutionized holiday shopping. First there was the rise of Cyber Monday, but now the growth of mobile and tablet-based commerce makes it even easier to shop from anywhere at any time. Social media sites – Facebook, Twitter, Pinterest – has accelerated this process, with consumers sharing purchased and shopping tips with friends
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and retailers offering special deals.
In this edition of Smith Business Close-Up with the University of Maryland’s Robert H. Smith School of Business, Bill Rand talks about how ecommerce and social media have changed online shopping and the way we now buy things.
Related social shopping videos:
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