For retailers looking to derive value from social media, Facebook seems like a no-brainer. However, recent studies indicate that there are other networks better targeted for retail conversions.
Analysts have also been pointing at Pinterest as a leader for retail conversion value. But in a study of the social landscape from RichRelevance, a provider of online marketing personalization solutions, Polyvore emerged ahead of Pinterest.
“We usually look at the 10,000 pound gorillas — the primary brands,” says Diane Kegley, Chief Marketing Officer for RichRelevance. “We were equally surprised when Polyvore stepped in ahead of Pinterest in average order value.”
While Facebook holds a 60 percent market share, Polyvore holds a solid 20 percent, Pinterest comes in a 15 percent and Twitter slides in at a mere 5 percent, according to the study. Still, both Polyvore and Pinterest generate higher order value than Facebook overall.
Kegley says that where Facebook and Twitter are deal driven, both Polyvore an Pinterest are set up for presenting ensembles, curating the shopping experience and looking at products within a retail context.
“[Polyvore] is akin to shopping in a trendy boutique and having the salesperson recommend a particular product, as opposed to walking down the street with your friends and having someone try to sell you something,” she says.
Despite surprising emergence of Polyvore as a social shopping leader and the rise in conversions overall, Kegley notes that social shopping only represents one percent of all ecommerce. Still, Kegley says that as retailers get smarter about using the right social channels to reach consumers, we can expect this number to grow.
“Pinterest opening their API to a whole host of retailers, is a smart idea for being able to drive more meaningful traffic to retailers,” she says.
Featured image credit: Coco Mault