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Payvment: Social commerce may boost holiday sales
This holiday season some merchants are looking to social media - specifically Facebook - to boost revenue lines. And according to new data from Payvment that may happen. Nearly half of sellers using Facebook for their merchandise believe sales will increase over 2011 and 20% say they're more confident in Facebook now than they were last year.
What seems to be working best for sellers in the social space is the ease in building a marketing list - many F-Commerce users say having shoppers 'like' a page helps with engagement - plus its simple to 'find' these customers later when sales or special deals come about.
Of those planning to use F-Commerce as a selling tool, many are turning to traditional online offers to boost sales. One-third say they'll offer free shipping while just over 20% plan to use 10% price discounts and 18% say they'll offer savings up to 20% through the social network.
"With hundreds of thousands of small businesses now selling products on Facebook and many planning significant promotions and discounts for the holidays, Cyber Monday could very well become 'Facebook Monday' this year," said Jim Stoneham, CEO of Payvment. "The data also shows that Facebook sellers are continuing to invest in promoting their storefronts via Facebook Ads, as well as offering deals and promotions and aggressively marketing their stores via other social channels such as Twitter and Pinterest."
How has Facebook worked, to date, for these merchants? More than half (65%) say Facebook has improved fan/customer acquisitions and 61% say it's simpler to begin or end a campaign within the social platform.
Outside of Facebook, 35% say they'll use Twitter to push online shoppers into their stores and about one-third say they'll use Pinterest to help boost traffic and sales.
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