If you want to succeed in an increasingly crowded e-commerce market, you need an online presence that is likely to drive massive traffic. In order to compete, more e-commerce companies are turning towards social media.
According to a study by Mobstac, the most significant impacts of social media for business are the building of trust and lead generation.
In 2013 Facebook, Twitter, and Pinterest generated 75% of all social media referred sales.
Mobstac notes that in 2016 U.S. consumers are expected to spend $327 billion online, making a social media investment all that more important.
The study also finds that 39% of Facebook users will “Like” a brand in order to research a product. 74% of social media users also use their favorite platforms to guide their purchases.
Perhaps the most telling social media e-commerce buying fact is that 4 out of 10 Facebook, Twitter, and Pinterest users have purchased a product after sharing it on social media.
Check out these social media e-commerce facts and other social buying information:
Do you think social media is a foundational building block for big and small e-commerce platforms?