Companies Who Focused Predominantly on Social Network Presence Dropped Off Leader List, While a New Vanguard Created Richer Social Shopping Experiences Integrated Directly with Their Websites
Minneapolis, Dec. 10, 2012 – 8thBridge®, the market leader in social commerce, today announced the results of its second annual Social Commerce IQ (SCIQ) report, which analyzed the social commerce strategies of the majority of companies on the Internet Retailer 500 (IR 500) list. The study revealed a number of new best practices as compared to the 2011 report, including an extended focus beyond simply increasing social network presence to include creating richer social shopping experiences that are directly integrated with, and driven from, the top players’ ecommerce sites.
The “2012 SCIQ: Retail” report covered more than double the number of companies as the 2011 study, which focused entirely on retail brands. The report also reflected a major shift in social commerce strategy that is perhaps best exemplified by increasing interest in Pinterest, which has been adopted among 78 percent of IR 500 companies in less than a year but has not generated a corresponding rise in traffic or sales conversion. Pinterest emphasizes curation and the concept of an Interest Graph that creates more meaningful connections based on things that interest people rather than simply who they know.