How Does Social Media Impact Retailers?

Who doesn’t have some type of social media account, whether it is Facebook, LinkedIn, Twitter or Instagram? The majority of people (especially millennials) will have one if not all of these types of accounts. It is important that retailers are on social media in order to connect with past, existing and potential customers.

Many retailers look at social media as just a marketing tool, when in reality, if utilized properly, it can be a way to increase sales, gather analytics as well as engaging with customers, improving brand image and develop their business.

According to the PWC Total Retail Survey where 22,618 shoppers over 25 countries were surveyed:

67% said that either reading or writing social media reviews and comments influenced their online shopping
44% said receiving promotional offers on social media influenced their shopping decisions
16% were happy to purchase products directly from a social media channel

The benefits of using social media as part of their buying journey to the consumer include:

  • Being able to get the latest promotions and additional discounts
  • Getting the latest product information
  • Contact with customer service to get problems dealt with quickly
  • Be able to offer feedback on products and services

So it is a positive to both retailer and customer to maximize usage of social media. For a retail business, it is essential that they evolve with social media or they will get left behind.

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