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    Consumers’ Increasing Reliance on Facebook and Other Social Trends

    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.”

    Consumers' Increasing Reliance on Facebook and Other Social Trends - slide 1

    Click through for nine key social media trends affecting consumer behavior, as identified by Reevoo, a social commerce company.

    Consumers' Increasing Reliance on Facebook and Other Social Trends - slide 2

    The act of buying products through Facebook has doubled in just six months, climbing from 4 percent  to 8 percent.

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

    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).

    Consumers' Increasing Reliance on Facebook and Other Social Trends - slide 4

    Mobile phone usage to access social sources of information is on the rise. A majority of respondents now own a smartphone (57 percent versus 49 percent in March), and they’re not afraid to use them: 28 percent read reviews on their mobiles, 24 percent (up from 18 percent in March) use their smartphone in store to locate a discount voucher or coupon, while 9 percent (up from 6 percent) use their phone to read customer reviews while in-store.

    Consumers' Increasing Reliance on Facebook and Other Social Trends - slide 5

    Friends’ recommendations remain the most important factor in making a purchase decision. They are now ranked as important by 74 percent, up from 70 percent in March. The importance of consumer reviews written by strangers is also up, from 62 percent to 65 percent.

    Consumers' Increasing Reliance on Facebook and Other Social Trends - slide 6

    Recommendations based on what Facebook friends ‘Like’ have increased in usefulness from 15 percent to 17 percent, while recommendations based on what Facebook friends actually bought grew significantly from 13 percent to 18 percent.

    Consumers' Increasing Reliance on Facebook and Other Social Trends - slide 7

    Multichannel shopping is also on the rise. The proportion of consumers researching their purchases using at least three channels from a list comprising mobile, Facebook, online and offline has increased to 39 percent from 36 percent in the six months from March. The proportion using all four channels rose from 8 percent to 10 percent.

    Consumers' Increasing Reliance on Facebook and Other Social Trends - slide 8

    Older consumers are increasingly turning to reviews before making a purchase decision. 32 percent of over 65s and 27 percent of the 55 to 64 age-group always read reviews before making a purchase (up from 21 percent and 22 percent respectively in March).

    Consumers' Increasing Reliance on Facebook and Other Social Trends - slide 9

    The popularity of online shopping has increased by 10 percent as a share of total purchases (49 percent now, up from 39 percent in March). In addition consumers are increasingly beginning their research online for all purchases (46 percent now, up from 40 percent in March).

    Consumers' Increasing Reliance on Facebook and Other Social Trends - slide 10

    The majority of respondents have written a review (56 percent now, up from 47 percent in March) and half of those who have written a review have also shared it with friends. Ninety-five percent of respondents sometimes or always read reviews before making a purchase decision.

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