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How Pinterest tops Facebook in e-commerce
Pinterest users’ average order value is 126% more than Facebook users, Javelin says in a new report. It also details how much social commerce impacted Black Friday sales.
Roughly a quarter of U.S. social network users have made a purchase on a retail web site after clicking from a social network in the past year, according to a new report from Javelin Strategy & Research, a financial services research and consulting firm.
Moreover, about 1% of those shoppers’ online purchases on the day after Thanksgiving, which is often called Black Friday, stemmed from shoppers clicking from Facebook, Pinterest and other social networks.
That’s why retailers such as Starbucks Corp. have launched campaigns aimed at driving social commerce sales, the report suggests. For example, Starbucks, No. 454 in the 2013 Top 500 Guide, in October rolled out a social gift-gifting program that let consumers send a voucher for a coffee to friends on Twitter.
But it isn’t just shoppers buying gift vouchers after seeing links, posts and ads on social networks—shoppers are making a wide array of purchases via social networks. For example, 12% of social network users have bought physical items like electronics or shoes after clicking from a social network and 9% have bought music downloads. That compares with 8% who have bought a voucher.
Shoppers clicking from Pinterest are particularly lucrative, Javelin finds. Pinterest users’ average order value is $123.50, which is about 126% more than Facebook users’ $54.64 average order value.
Javelin based its findings on its online survey of 2,985 consumers that it conducted in November.
The Javelin report’s findings are in line with similar results reported in the new Internet Retailer 2014 Social Media 500. The new research guide, which ranks the leaders in social commerce by the percentage of web site traffic they receive directly from social networks, finds that retailers’ 2013 social commerce sales jumped nearly 63% to $2.69 billion from $1.65 billion a year earlier.