Could you be losing out by not selling social?
Bronto is urging UK online sellers to test the waters with selling on social networks because the opportunity might be bigger than you imagine.
They commissioned research from YouGov and have published a report called: “Are We Ready to Use the Social ‘Buy’ Button?” And the answer is a solid yes from UK consumers.
Apparently, one-third of consumers (32%) said they’re ready to buy via social media. UK consumers are willing to spend an average of £55.68 on a single item via social channels, suggesting a largely untapped social commerce marketplace of 16 million UK adults spending an estimated £900m.
Women are prepared to spend £36.25 on a single item but men double that figure with an estimated, single-item spend of £73.75 via social channels.
Bronto’s EU MD Georges Berzgal says: “The time for social commerce in the UK has most certainly arrived. While many retailers may choose to wait until this new channel grows beyond the early adopters, a potential £900m marketplace is something brands shouldn’t overlook. While it’s no surprise that younger age groups are more active on social media, there is also ample opportunity to target households with children and those aged 35-44 years old. The key to success for UK retailers will be to begin testing the waters now, before they miss the boat and lose ground to more socially aware competitors.”