Less than 1% of Cyber Monday Sales From Social Commerce

As we all know Black Friday and Cyber Monday are huge shopping days for the holiday season. Cyber Monday 2013 was the “biggest Cyber Monday in history.”  There was an 18% increase in sales since Cyber Monday 2012. The most interesting part of this is that less than 1% of Cyber Monday sales came from Facebook, Instagram, Twitter, and Pinterest. Why do you think social networks accounted for such a small portion of sales? See this article on on Forbes discussing Cyber Monday sales. 

http://www.forbes.com/sites/gilpress/2013/12/03/biggest-cyber-monday-in-history-up-18-2-google-apple-dominate/

 

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4 Responses to Less than 1% of Cyber Monday Sales From Social Commerce

  1. samanthaoppenheim says:

    I found it interesting for the author of this article to state that “social media accounted for less than 1% of Cyber Monday sales.” I question how companies can track the exact amount of sales that are generated from their social media accounts. Additionally, even if they can achieve an estimate through the use of direct commerce, for example, this quantity disregards the value of social media’s ability to increase brand awareness, which indirectly drives sales.

  2. anoymer says:

    That is a good point – I wonder what tracking methods were used to come up with this data. Yes, I’m sure their previous posts on social media did contribute to Cyber Monday sales.

  3. ssack2013 says:

    I have a theory that the percentage of cyber monday sales from social websites were so low because most people already knew what they were looking for. This could also explain why the percentage of organic and paid searches were so high. The sales generated from social media websites are usually impulse buys. Also, you both made a good point that we don’t know for sure if that 1% is correct. I know that if I see an ad on facebook that I like, I just type the product into google and search it that way instead of clicking on the ad itself. So maybe those numbers are misleading and should be much higher. For the most part though, social media websites are better used for awareness of a product rather than conversion.

  4. This comes back to the issue of multi-channel attribution, which we discussed in class. The fact that the click that leads to sales rarely came from social media does not mean that it did not affect sales.

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