Online Retail- The 2010 Paradigm

So who spends maximum online? Men, Women, Teens?

Where should the big brands and online retailers put their advertising $ in 2010 ? Search, Portals, Social Media?

Online shopping experience is changing in more ways than one. It is no secret that peer review and recommendation is the single biggest influence in the purchase decision. “I want that red stilettos that Jane has??? syndrome..

A recent study by comScore reveals a direct correlation between Online spend and time spent on Social Web. Visitors to Social Media websites ( read: Facebook and Twitter) spend more money online than other Internet users. Average

Per the comScore study, In the US in Q1 2010, visitors that spent the most time on Facebook also spent the most dollars on online shopping. The top 20% Visitors to Facebook (by time spent) spent average of $67 online.

Facebook Time Spent and Online Shopping
Facebook Time Spent and Online Shopping

Facebook Non Visitors spent $ 27 online shopping; much less than the average $50.

On Twitter users spend more than average Internet user, and more than most Facebook Visitors

Twitter Time Spent and Online Spend
Twitter Time Spent and Online Spend

The key takeaway from this study is that Twitter and Facebook are no longer teenage hangouts. Older audience (heavy spenders with higher disposable incomes) are propelling these platforms.
Online Retailers and Brands  better hone your 2010 plans to  include Facebook and  Twitter.

Bhaskar Thakur

Digital Transformation & Marketing Leader , Growth Enabler, Recreational Runner, Learner & Seeker. On this blog I share my perspective on Technology, Entrepreneurship, Startups, Growth, Health, Running and Biking.