The new payment option from Samsung gives retailers another way to connect with customers.
Consumers spend time reading reviews and checking their online social networks before purchasing.
Consumers spend more than twice the time on e-retail sites that provide social content, such as product reviews, than e-retail sites that don’t, according to a new report from social commerce service provider Reevoo.
The report, based on the results of an online survey of 1,200 U.K. consumers conducted in March, says 90% of consumers spend at least 24 hours researching purchases when the product costs 200 pounds ($320.28) or more, yet only spend about six minutes with an e-retailer looking at product pages or completing the checkout process. For e-retailers that feature social commerce content like consumer-generated product reviews and product recommendation tools, time on site increases 133% to 14 minutes.
The report also says 39% of consumers will check with their friends on Facebook for help making a purchase decision. But that doesn’t mean that shoppers are eager to shop on the social network, the report finds. Fewer than 5% of consumers surveyed said they’d completed a purchase within Facebook.
“While it’s vital for retailers to fine-tune their on-site experience to ensure that consumers get what they need to make a purchase, this is no longer enough,” says Richard Anson, Reevoo CEO and founder. “Retailers need to engage with shoppers everywhere.”
This includes on mobile devices. 38% of consumers report using their mobile phones to research product purchases in some way, and one-third of these consumers say they use them to check prices or read reviews. 87% of respondents say they sometimes or always read reviews before making a purchase decision and 69% say they trust reviews more when bad reviews are included.