With most major social networks carrying ‘buy buttons’, brands are quickly moving into this new market place- but are consumers ready for a more social online shopping experience? New consumer research, “Are We Ready to Use the Social ‘Buy’ Button?” conducted by YouGov for commerce marketing automation leader Bronto Software, a NetSuite (NYSE: N) company, […]
With most major social networks carrying ‘buy buttons’, brands are quickly moving into this new market place- but are consumers ready for a more social online shopping experience?
New consumer research, “Are We Ready to Use the Social ‘Buy’ Button?” conducted by YouGov for commerce marketing automation leader Bronto Software, a NetSuite (NYSE: N) company, reveals an untapped market of 16 million potential UK adults willing to shop on social networks.
Key findings from the “Are We Ready to Use the Social ‘Buy’ Button” report include:
• One-third of consumers (32%) polled said they’re ready to buy via social media, pointing to a social commerce tipping point retailers can’t ignore.
• UK consumers are willing to spend an average of £55.68 on a single item via social channels, equating to social commerce marketplace of 16 million UK adults spending an estimated £900m.
• The gender spending gap is wide and men lead the charge. Women are prepared to spend £36.25 on a single item but men double that figure with an estimated, single-item spend of £73.75.
Additional highlights from the research include:
• How different age groups engage in social commerce activities
• Which demographic groups are most likely to buy via social media
• What consumers are willing to buy via social media
“The time for social commerce in the UK has most certainly arrived,” Georges Berzgal, managing director Europe of Bronto Software, said. “While many retailers may choose to wait until this new channel grows beyond the early adopters, a potential £900m marketplace is something brands shouldn’t overlook. While it’s no surprise that younger age groups are more active on social media, there is also ample opportunity to target households with children and those aged 35-44 years old. The key to success for UK retailers will be to begin testing the waters now, before they miss the boat and lose ground to more socially aware competitors.”
Other key research stats:
• 32% ready to buy via social media
• Consumers aged 18-24 are the most willing to buy over social media with 51% saying they were willing
• Books, cds & dvds most popular, clothing second, event tickets third, household good fourth
• Households with children more ready 42% vs 27%
The report, conducted by market research firm YouGov, is the first of a two-part series that investigates consumer attitudes towards commerce, with the second report to focus on connected commerce. To find out more or download this report, visit ‘Are we ready to use the ‘buy’ button? – UK Consumer Attitudes Toward Commerce on Social Media’.
Source: bronto.co.uk
