Welcome!

News Feed Item

8thBridge's Second Annual Social Commerce IQ Study Reveals New Retail Leaders Who Adopted Significantly Different Success Strategies Over Past Year

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. 11, 2012 /PRNewswire-iReach/ -- 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.

(Info: http://photos.prnewswire.com/prnh/20121211/CG27409)

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. 

"In line with the expanding role of social commerce and the new skill sets required by companies to fully monetize its benefits, this year's SCIQ Top 25 reflect both traditional and non-traditional companies," said Wade Gerten, CEO of 8thBridge, Inc.  "Three types of companies have emerged as leaders in this year's report – the first is ecommerce companies that have deeply integrated social functionality into their sites, the second is 'in-transition' companies that do well in all social commerce areas, and the third is strong viral companies that score exceptionally well in social network branding and referral traffic."

The top retailers identified in the SCIQ report included many who were new both to the SCIQ 25 list as well as this year's IR 500 rankings.  Based on a weighted total of four key success factors, the top 25 companies are:

  1. Fab.com 
  2. DebShops.com
  3. Coastal.com
  4. Modcloth.com
  5. PetFlow.com
  6. ShoeDazzle.com
  7. JackThreads.com
  8. CafePress.com
  9. Birchbox.com
  10. Totsy.com
  11. Heels.com
  12. NastyGal.com
  13. Sears.com
  14. Ice.com
  15. Threadless.com
  16. WetSeal.com
  17. Store.NBA.com
  18. AE.com (American Eagle Outfitters)
  19. AMIclubwear.com
  20. Barneys.com
  21. CharlotteRusse.com
  22. Forever21.com
  23. OneKingsLane.com
  24. Aerie.com
  25. Spencersonline.com

Details about the Report

The 2012 SCIQ: Retail report covered a broad spectrum of retail brands in segments ranging from apparel, computers/electronics, health/beauty and jewelry, to toys/hobbies, flowers/gifts and sporting goods.  Mirroring the latest social commerce adoption trends, the report evaluated four success factors as the industry extends beyond focusing exclusively on social network presence to include integrating a richer set of social networking experiences directly with their own ecommerce sites.  These success factors include:

  • Increasing brand awareness on social networks, including not only Brand-to-Fan sharing on Facebook fan pages, but also friend-to-friend sharing facilitated by deeper website integration with social networks.
  • Increasing total upstream social traffic, as percentage of total traffic from each of the social networks.
  • Increasing website "social lift," which is measured by the increase in site visits, conversion and shopping basket size that results from implementing engaging social experiences that promote social sharing, rewards, curation and discovery.
  • Increasing social CRM (SCRM) potential, which is evaluated both by the social experience that is provided in order to collect social data, and by what type of data is collected.

The report also identified specific best practices that top brands implemented during 2012, including offering social expression capabilities and rewards, creating social list and curation opportunities, enabling social discovery features, and using Interest Graph data.  Other key usage statistics emerged, including:

  • Facebook upstream traffic is now 2.46%
  • Pinterest upstream traffic is now 0.11% (low)
  • Twitter upstream traffic is now: 0.06% (a distant third)
  • 35% of companies researched had apps on Facebook that were not functioning and/or were out of date.
  • 51% of companies have incorporated the Pin It button 

Additionally, the report included results from a survey of 1,819 U.S. residents between July 9 and July 12, 2012, regarding their Facebook usage and interest in social commerce.  Key findings include:

  • 70 percent of respondents would rather hear about a new product from a Facebook friend, than from a brand.
  • 57% have asked their friends on Facebook for advice before purchasing a product.
  • 31% say they don't share products on social networks, while 63% say they share on Facebook, 25% on Twitter, and 22% on Pinterest.
  • 64% said that more Facebook "likes" on a product do not increase the likelihood that they will buy that product.
  • 44% say they are most likely to discover new products compared to 21% on Pinterest and 13% on Twitter, but 37% don't pay attention to posts about products.
  • 56% do not share things on social networks to get rewards.

8thBridge® is a registered trademark of 8thBridge, Inc.

Facebook® is a registered trademark of Facebook, Inc.

Pinterest® is a registered trademark of Pinterest, Inc.

About 8thBridge, Inc.

8thBridge makes it possible for customers to shop where they socialize and socialize where they shop. 8thBridge's clients empower their customers to shop on their own terms in a shopping experience that is portable, personalized, and participatory. From the groundbreaking early days of F-Commerce with 1-800-Flowers in 2009, to the award winning Delta Air Lines social travel planning app in 2010, to the 2012 launch of the Ticketmaster Timeline app, 8thBridge has partnered with some of the world's most respected and innovative brands, including American Apparel, Blue Nile, Coach, Deb Shops, Delta Air Lines, Dogeared, Juicy Couture, Musician's Friend and Ticketmaster. 8thBridge is funded by Split Rock Partners and Trident Capital. For more information, connect with us at /www.8thbridge.com and on Twitter at twitter.com/8thBridge.

Media Contact:

Libby Smith, 8thBridge, 720.936.9889, [email protected]

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE 8thBridge

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"Storpool does only block-level storage so we do one thing extremely well. The growth in data is what drives the move to software-defined technologies in general and software-defined storage," explained Boyan Ivanov, CEO and co-founder at StorPool, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
ChatOps is an emerging topic that has led to the wide availability of integrations between group chat and various other tools/platforms. Currently, HipChat is an extremely powerful collaboration platform due to the various ChatOps integrations that are available. However, DevOps automation can involve orchestration and complex workflows. In his session at @DevOpsSummit at 20th Cloud Expo, Himanshu Chhetri, CTO at Addteq, will cover practical examples and use cases such as self-provisioning infra...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory? In her Day 2 Keynote at @DevOpsSummit at 21st Cloud Expo, Aruna Ravichandran, VP, DevOps Solutions Marketing, CA Technologies, was jo...
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, provided some practical insights on what, how and why when implementing "software-defined" in the datacent...
Blockchain. A day doesn’t seem to go by without seeing articles and discussions about the technology. According to PwC executive Seamus Cushley, approximately $1.4B has been invested in blockchain just last year. In Gartner’s recent hype cycle for emerging technologies, blockchain is approaching the peak. It is considered by Gartner as one of the ‘Key platform-enabling technologies to track.’ While there is a lot of ‘hype vs reality’ discussions going on, there is no arguing that blockchain is b...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across business networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost as well as advance trade. Are you curious about how Blockchain is built for business? In her session at 21st Cloud Expo, René Bostic, Technical VP of the IBM Cloud Unit in North America, discussed the b...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
Is advanced scheduling in Kubernetes achievable?Yes, however, how do you properly accommodate every real-life scenario that a Kubernetes user might encounter? How do you leverage advanced scheduling techniques to shape and describe each scenario in easy-to-use rules and configurations? In his session at @DevOpsSummit at 21st Cloud Expo, Oleg Chunikhin, CTO at Kublr, answered these questions and demonstrated techniques for implementing advanced scheduling. For example, using spot instances and co...
The cloud era has reached the stage where it is no longer a question of whether a company should migrate, but when. Enterprises have embraced the outsourcing of where their various applications are stored and who manages them, saving significant investment along the way. Plus, the cloud has become a defining competitive edge. Companies that fail to successfully adapt risk failure. The media, of course, continues to extol the virtues of the cloud, including how easy it is to get there. Migrating...
The use of containers by developers -- and now increasingly IT operators -- has grown from infatuation to deep and abiding love. But as with any long-term affair, the honeymoon soon leads to needing to live well together ... and maybe even getting some relationship help along the way. And so it goes with container orchestration and automation solutions, which are rapidly emerging as the means to maintain the bliss between rapid container adoption and broad container use among multiple cloud host...
Imagine if you will, a retail floor so densely packed with sensors that they can pick up the movements of insects scurrying across a store aisle. Or a component of a piece of factory equipment so well-instrumented that its digital twin provides resolution down to the micrometer.
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settle...
The need for greater agility and scalability necessitated the digital transformation in the form of following equation: monolithic to microservices to serverless architecture (FaaS). To keep up with the cut-throat competition, the organisations need to update their technology stack to make software development their differentiating factor. Thus microservices architecture emerged as a potential method to provide development teams with greater flexibility and other advantages, such as the abili...
Product connectivity goes hand and hand these days with increased use of personal data. New IoT devices are becoming more personalized than ever before. In his session at 22nd Cloud Expo | DXWorld Expo, Nicolas Fierro, CEO of MIMIR Blockchain Solutions, will discuss how in order to protect your data and privacy, IoT applications need to embrace Blockchain technology for a new level of product security never before seen - or needed.