Facebook has become a dominant source for discovering deals and generating sales during the holiday shopping season. The following discusses data from Fab.com, Shop.org, and 8thBridge to prove this claim.
Data from Fab.com’s Black Friday/Cyber Monday showed that “Of the more than $1.1 million in sales during the period, more than 50% was from people who joined via social sources. Facebook is far and away our biggest source; more than 25% of the sales/revenue we generated during the period was from people who originally joined Fab via Facebook. Without a doubt, Facebook is far and away our most important source for both new members and for ongoing engagement of our members.” -Jason Goldberg, Fab.com founder and CEO (http://betashop.com/post/13505586215/data-social-mobile-rule-fabs-black-friday-cyber)
Scott Silverman, one of the creators of Cyber Monday believes “the growth of social media and the importance of Cyber Monday are correlated because peer -to-peer sharing of deals and owned marketing channels like Facebook Pages and Twitter accounts are bringing promotions directly to where users spend their time online…According to Shop.org, 29 percent of consumers will check out a retailer’s Facebook page as part of their online holiday shopping this year.” (http://techcrunch.com/2011/11/26/cyber-monday/)
8thBridge surveyed 1,448 U.S. Facebook users about fashion and Facebook. We found that 53% Like fashion brand pages to stay informed of new offers. Also, 48% said that they would be motivated to make a purchase on Facebook if they were offered an attractive deal. The rest of our survey results can be found in our Social Commerce IQ: Fashion report.
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