November 16, 2018
Hospitality industry executives look ahead to 2019
There are headwinds ahead for some hotel brand companies and real estate investment trusts, but the overall tone on calls in regards to next year was positive.Read more
Social commerce might finally be getting somewhere, particularly with the 18-34 age group. Rather than making direct purchases through social platforms, people are discovering products on social networks in record numbers – and often going on to buy them.
In a survey of 1,000 US consumers, 78% of 18-34-year-olds said they had discovered products on Facebook within the last three months that they were interested in buying. Fifty-nine percent also reported discovering products on Instagram and Pinterest, demonstrating the power of visual social media for retail discovery.
Even more impressively, 55% of respondents across all age groups (aged between 18 and 65) reported buying a product online after discovering it on social media – with 44% buying immediately, and 11% reporting that they bought the product later.
Meeker also noted that the share of referrals from social feeds to ecommerce sites is on the rise. According to data gathered by Adobe, the percentage of ecommerce referrals coming from social networks has risen four percentage points in three years, from 2% in Q1 2015 to 6% in Q1 2018.
Get the full story at Econsultancy
Read also "Here’s Mary Meeker’s essential 2018 Internet Trends report"
Visit our sponsors: