Fresh Relevance: Retail Social Barometer Report

Fresh Relevance has released a new report, “Retail Social Barometer.”

Top retailers focus on meeting consumer expectations and driving revenue in brick-and-mortar retail through this core selling principle. But many e-commerce businesses are unsure how best to help customers easily discover the right products.

Social strategies offer a cost-effective and scalable way to recreate the human experience by showing shoppers products that resonate with their peers.

Fresh Relevance’s survey aims to understand consumers’ expectations and appropriate strategies. The report mainly explores:

1. The three pillars of social media strategy: crowd wisdom, users and celebrities;
2. Shoppers want strategies when making decisions;
3. Brands that are good at using social media and those that are just average;
4. How to choose the right combination for your brand.

The leading vertical in terms of social media marketing is beauty retail. Fashion and footwear have the biggest opportunities to drive sales through social media.

What consumers want most are reviews and ratings, and many retailers still have a lot of room for improvement in this area. In addition, consumers are also concerned about inventory availability and other consumer-generated content.

Action points for retailers:

More than half of consumers find ratings and reviews useful when researching products. This presents a great opportunity for marketers to increase conversion rates.

Social media marketing doesn’t have to mean expensive celebrity endorsements.

Retailers can miss out by not providing real-time inventory levels.

Today’s marketing platforms offer a comprehensive set of tools that automatically pull real-time content into emails and web pages. Marketers should take advantage of these tools.

Most importantly, use data to determine what works to meet consumer expectations.

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