Facebook Commerce Holds Promise for Retailers
JANUARY 20, 2012
Social networks don’t account for much ecommerce yet, but heavy Facebook users see it as a one-stop shop
Social media and ecommerce have evolved since 1-800-FLOWERS launched the first Facebook storefront in July 2009. Internet users have become more comfortable with online buying on Facebook as they spend more time on the site.
“It is not surprising that shopping and socializing—activities that complement each other in the real world—are beginning to converge online as well,” said Krista Garcia, eMarketer analyst and author of the new report, “Facebook Commerce: Reaching Shoppers Where They Socialize.” “As social media, and Facebook in particular, plays a larger role in consumers’ lives, people are becoming accustomed to performing routine tasks like reading news, watching videos and listening to music, as well as discovering products and shopping, all while staying logged in to a single site. Instead of compartmentalizing daily routines, social media users are treating Facebook as a one-stop platform.”
Retailers are still in the early stages of using social media as a sales vehicle, but the channel is poised for growth. Booz & Company estimated that $1 billion in goods was be sold through social media in the US in 2011. That figure is expected to triple in 2012 and reach $14 billion by 2015.