Sizing Up Social Commerce: 5 Key Points
It’s Exponential, My Dear: Booz & Company estimates social commerce sales at $5 billion in 2011, a figure expected to increase sixfold to $30 billion by 2015.
Engagement Rings: At this stage, social commerce is about engaging consumers — not generating revenue. But companies who don’t experiment lose the first-mover advantage in connecting with key younger consumers.
People Power: Social commerce is fundamentally changing e-commerce by making the shopping process people-centric, rather than product-centric.
Think Community, Not Catalog: To that end, selling too many products on Facebook is overwhelming for users. F-commerce is about exclusivity and price.
Offline is the New Online: Savvy marketers are integrating social commerce into all aspects of their brand experience across multiple platforms.