Retail Insight snippets: Australia gets social

by | Mar 21, 2018

From Retail Insight Australia, 2018, commissioned by SPS Commerce from Roy Morgan Research:  

After pricing, product availability and products trending in social media are seen to have the greatest impact on consumer buying decisions in 2017. Retailers perceived the digital experience online as more important in impacting consumer buying decisions than did manufacturers and distributors, and have also adopted it more strongly.  Distributors were more concerned about product availability on consumer buying decisions than were retailers and manufacturers.

Social media has quickly jumped from a lowly regarded consumer channel to ranking as the 3rd most important influence in our survey, with social platforms another direct-to-consumer channel for retailers and brands alike.  Retailers and brands alike have ramped up spending on social marketing in the past year, with video for example jumping 49% to $0.9bn spend in 2017 versus 2016.  Diverse retailers including Domino’s Pizza, Woolworths, THE ICONIC, and online surf fashion retailer City Beach have gained recognition for creating communities and converting those to sales.  However, numerous brands have also developed these communities and strengthened their direct connection with the end consumer – traditionally a deficit, with retailers controlling the consumer relationship.  Lorna Jane active wear, accessory brand Kate Spade, and underwear brand Bonds have won awards for their clever use of creative social media campaigns, facilitating direct communication and sales.  Brands in fashion, health, sports, and electronics have rapidly moved onto this channel in the past year, marking a significant change to the year prior, and to brands in other categories.

Please use the link below to download the report. 

Download Retail Insight Australia, 2018

Download Retail Insight Australia, 2018

This report draws on almost 500 responses from Australian retail professionals, prepared by Roy Morgan Research for SPS Commerce.

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