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Social Commerce: From Hi to Buy

As social media usage habits become entrenched in our society, forward-looking technocrats and marketers are forging a path from community to commerce.

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Lyst.com

Photo By Courtesy Photo

Appeared In
Special Issue
Beauty Inc issue 05/11/2012

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.

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