Shop ‘Til You Drop: Either from Exhaustion or Poor Connectivity
I’m a shopper. I’ll admit it. I love the thrill of the hunt and the eventual bagging of a fun or exotic item that plays to my fashion sense or inner tech geek. So, as someone who straddles the worlds of technology and retail, I can’t help noticing the spate of articles and information lately on how interlinked social media and shopping are becoming. And how the borderless experience I’ve talked about in the past several months is becoming more and more critical for businesses to enable.
This week, a New York Times article reported comScore’s latest overview of the online retail economy. According to the report, the more time users spend at social media sites, the more money they spend online. For instance, heavy users of one of the most popular social media sites, Facebook, spend an average of $67 versus “light” network users who spend $50 on average, or non-users of the network who only spend an average of $27 online.
Still another study released this week by the e-tailing group and PowerReviews identified three key trends around social media:
1. Consumers trust the basic social media tools
2. Consumers seek a variety of voices; and
3. Facebook is the social media platform with the greatest potential
But before we blindly accept that third trend, consider that a whole new kind of social media sites are springing up specifically for fellow shopaholics like myself—they’re called social shopping sites. Swipely and Blippy are two such sites that allow members to share purchases online. So, you’re able to see what people buy, and sometimes where from and how much they paid. Not only does this give more research power to the people, but it’s also a forum for people to tell stories around their purchases. Something that could be a good thing or a bad thing for retailers, depending on how well they manage their customers’ experiences.
All of this points to the need for organizations to move to a borderless network architecture—not only does this allow customers, employees, and partners to engage in deeper levels of intimacy regardless of location or device when they are most inclined to interact, but it also allows them to offer the type of differentiated services that are likely to separate them from their competitors.
More about Borderless Networks.