The e-retailer reports a $126 million net loss, stemming from a $640 million year-over-year increase in spending in the quarter on technology and content ...
More than half of online shoppers are more likely to return to a retail site with a social community, and shoppers say recommendations from friends are twice as valuable as recommendations from retailers, The E-tailing Group says in a new study.
83% of consumers who frequently shop on the web are interested in sharing information about purchases in online social communities, and 67% say they spend more online after getting recommendations from their online community friends, The E-tailing Group Inc. says in a new report.
The study, “Social Commerce: Conversations Among Consumers,” is based on a survey conducted last month of 1,000 frequent online shoppers. The study was sponsored by Ripple6, a subsidiary of Gannett Co. Inc. that provides retailers with online platforms for sponsoring social communities.
The study also notes:
- Opinions from participants in social communities influence purchasing decisions for 74% of online shoppers.
- 62% of online shoppers are more likely to return to a retail site that offers a social community.
- Online shoppers say recommendations from friends in social communities are twice as valuable as recommendations from retailers.
- 41% of survey respondents say they would be inclined to become active participants in online communities that share information about their favorite products.