The
year of 2016 is seeing retailers working toward social media as a form of
commerce, with more efforts being made to determine the best way to drive
sustainable e-commerce sales through social media. Some of the better known
examples of the move to social commerce include Amazon (NASDAQ: AMZN) allowing
customers to add items to their shopping carts with #AmazonCart, Facebook
(NASDAQ: FB) adding a “Buy” button to make it easier for consumers to purchase
items without leaving their social media accounts, and Coca-Cola’s (NYSE: KO)
#ShareACoke campaign.
But,
the evolution of social commerce truly started in 2012, when Facebook added its
collection features. Later, in 2014, Facebook, Twitter (NYSE: TWTR), and Tumblr
(NASDAQ: YHOO) added “Buy” buttons. In 2015, Facebook added a shoppable page
and made messenger payments available, Instagram added a “Shop Now” feature,
Pinterest added buyable pins, and Twitter finally expanded its Buy Now
partnerships. In 2016, Facebook enabled a feature allowing consumers to buy
event tickets on the social media site, and Pinterest added buyable pins open
to all SMBs, as well as a Pinterest shopping cart.
In
addition to the above developments, according to Sumo Heavy Industries
(http://dtn.fm/LFq4h), social media referral traffic to e-commerce sites grew
by 198%, with baby products, home furnishings, health and wellness, and
automotive purchases being the most influenced by social media. Facebook showed
the highest conversion rates for all social media e-commerce traffic at 1.85%,
according to Shopify (http://dtn.fm/9wOLd).
Although
social commerce is still developing, Sumo Heavy Industries found that it
remains a promising channel, with 73% of users who have tried “Buy” buttons
saying they would do it again, and one in five people saying they are open to
the idea despite not having tried it yet. Also, according to an article
published in Marketing Week (http://dtn.fm/0Fts7), out of 2,017 people aged 18
and over who were surveyed, 56% of them like or follow brands because of their
products, and research shows that Facebook is the most popular site for direct
purchases.
Yet
not all businesses are convinced of this new way of selling. Some describe it
as “making a mistake” while others have not optimized their websites for mobile
use (51%). Not only this, 31% of these organizations have no intention of
optimizing their sites, which millennials find increasingly irritating,
according to statistics (http://dtn.fm/69fE0).
Fortunately,
Moxian, Inc. (OTCQB: MOXC) is in the business of providing social marketing and
promotion platforms to aid merchants in growing and advertising their
businesses through social media. Moxian incorporates social media,
entertainment, and business intelligence. The company is a multi-channel social
commerce platform that includes a relationship management system in order to
generate knowledge for merchants so they can better interact with their chosen
audiences.
For
more information, visit the company’s website at www.Moxian.com
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MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Sign up for “The Mission Report” at www.MissionIR.com
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
