Consumers' Increasing Reliance on Facebook and Other Social Trends - Slide 3

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Shoppers are increasingly turning to Facebook for product recommendations: 24 percent now use it to see what their friends have liked (up from 22 percent in March), 27 percent ask friends for product recommendations (up from 19 percent) and 21 percent see what products their friends have bought and recommended (up from 15 percent).

The astonishing speed with which the consumer purchase journey is becoming social was revealed recently by new figures from social commerce company Reevoo. The company has just repeated research first conducted in March 2011, with results showing that the reliance on social sources – including friends and consumer reviews – is increasing rapidly by almost every measure and, intriguingly, across all age groups.

Richard Anson, founder and CEO of Reevoo, said: “In repeating this research so soon after we first conducted it, we hoped to identify the rate at which the consumer purchase journey is becoming social, and the speed at which it is becoming an accepted part of our shopping lives. The results have certainly confirmed our view that it is, indeed, a rapid process, and that it is a phenomenon that is touching and changing the behavior of all age groups.

“We have said for some time how vital it is that marketers who have so far ignored social commerce need to look at it very seriously, now. Many brands are translating these social changes into revenue, while those that don’t will be left behind – and now we can see just how fast they might be receding into the distance.”

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