Social commerce spotlight: Emerging alternatives to f-commerce
As f-commerce continues to nose dive and marketers struggle with new-commerce-kid-on-the-block Pinterest, retailers need to consider touting their wares on alternate social platforms. But it’s fair to say that few others immediately spring to mind.
BI Intelligence’s latest report, The State of Social Commerce 2013, helps shine some light on this issue, highlighting feasible alternatives to the f-commerce school of thought and indicating the future trends social retailers should be investigating now.
Key findings from the report:
Daily deal and coupon sites are still very much in the social commerce running. Groupon, for example, grew faster than any other company in history, and 33% of tablet owners and 22% of smartphone owners have used their device to search for offers. According to the report, if Groupon can “lock down” the growing mobile coupon space and drive more local commerce opportunities, it will become a formidable force in the social commerce sphere.
The Tumblr ethos is about sharing loved-content, and has proven extremely popular with a young, loyal user base. As the report states: “It could pivot quite effortlessly to privileging brand and product pages and could add ‘Buy’ buttons to brand and retailer posts.” There is also scope for marketers to target Tumblr’s niche communities with offers and discounts.
Understand ‘shoppable photo apps’
Apps such as Swaag.it allow users to upload photos of outfits and accessories and tag them buy brand, before sharing their style with others. There is scope, then, for brands and retailers to drive offers and links to products via this medium.
Make e-commerce social
As the report states, the difference between ‘new’ and ‘old’ e-commerce is merchandising. People use social commerce to discover items they didn’t know they wanted, and as such newer e-commerce companies such as Fab, One King’s Lane and Gilt are integrating social media into their interfaces to make the most of fashion trends. This not only boosts visibility but helps consumers feel like they’ve make smarter and more confident purchases, since they can see their peers have done the same.
The full report can be downloaded from the BI Intelligence website.