March 21 was Twitter’s 10th birthday, and it served as a great reminder of how social media has forever changed the way people – and brands – communicate and share.
Social has an increasingly growing influence on the retail industry as well. In its early days, social media served primarily as a touchpoint for customer service, and then evolved into marketing, promotions and, of course, reviews.
Today, social media is an important selling platform in shoppers’ cross-channel shopping journeys. Consider the following:
- The top 500 retailers earned $3.3 billion from social shopping in 2014, up 26% from 2013
- Social media increased its share of e-commerce referrals nearly 200% between the first quarters of 2014 and 2015
- Roughly 2% of all e-commerce traffic in the United States now comes from social networks and continues to grow
For more facts and figures of social media’s growing influence on retail, take a look at the infographic from the good folks at SnapParcel, below.