A new study, conducted by IBM Europe, looking at consumer shopping behaviour across a range of retail channels reveals social media has an increasing influence on buying decisions, even those decisions made in-store.
The survey found:
- Over 50% of respondents aged 16 – 64 with access to the Internet use social networks to assist with shopping decisions.
- Of those consumers who are likely to follow a retailer on a social network, 35% stated they use social media platforms to read reviews or rank products and services.
- 57% of this group said free trials of products or discount coupons were the most popular reason to follow a brand on social media platforms.
- Additionally, 25% of these adults think it is important to be able to use social networks to assist with buying decisions.
- 40% of those using social media to find out more about products still make the final purchase in-store.
This survey suggests retailers who are not making use of social media to talk with consumers are potentially losing out on sales.
In the press release, David Hogg, commerce solutions regional leader at IBM, says:
“Social media provides a new window through which retailers can deliver a more personal brand experience across all buying channels. By harnessing real-time customer analytics from social media, retailers can act upon what is being said, delivering a personalised marketing offer based on the customers’ shopping profile, preferences and decisions, helping retailers to maximise revenues.”
Source: IBM Press Room — IBM study finds social networks influence more than half of shoppers’ decision-making – even in the store
