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From Buzz to Buy: The Impact of Social Media on Shopping and Buying

WSL Strategic Retail, Oct 2010, Pages: 78


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THE BUZZ… Business has embraced Social Media faster than almost any marketing phenomenon in the last decade. Facebook, YouTube, twitter, MySpace, have become part of the everyday business lexicon, incorporated into media budgets, marketing plans, retail strategies.

WSL/STRATEGIC RETAIL’s benchmark study defines the power of Social Media to impact purchase decisions, unravels the complexities, and helps companies determine where it’s important in driving shoppers to buy. Specifically:

1.) The role of Social Networks in “shopping life”: Where they matter and don’t
2.) How shoppers use Social Networks for shopping
3.) The role of Social Networks vs. traditional shopping sites
4.) How different sites rate as shopping resources:
Internet shopping sites, independent review sites, social networking sites, retailer sites, manufacturer sites
5.) How shoppers of specific channels and specific retailers use Social Media to shop
6.) How shoppers use Social Media to research different product categories
7.) “Research” rates and “Buy” rates for 20+ Leading Indicator Categories
8.) How Mobile technology activates Social Media in store
9.) Action Steps for your business
10.) Predictions of how Social Networking will change shopping

METHODOLOGY:
Internet Survey National sample of 1700 adults and teens who go online for shopping advice 1500 Adults, 18 – 64+
- 200 Teens, 15 –17

ANALYZED BY: Gender: Men vs. Women
- Generations: Millennials, Gen X, Boomers, Seniors
- Income: Low, Middle, Upper Income
- Ethnicity: Caucasian, African American, Hispanic

BUZZ TO BUY WORKSHOPS:
WSL/SR will lead workshops for your company to: Develop social media strategies that will increase
- sales for your brands, you categories, your retailers Create Social Media Action Steps for your business
- Workshop Details:
- Customized to your specific business » 3 hours; 15-20 attendees » Developed and facilitated by WSL/SR


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