When it comes to the land of retail more shoppers doesn’t necessarily mean better numbers for retailers. Having been involved in the retail sector for decades, I have come to realize that while foot traffic is very important, it’s really about the average ticket sale. RichRelevance’s latest study demonstrates that point. While Facebook may be winning the traffic battle, Pinterest is driving the highest average spending per online shopping session.
RichRelevance powers personalized shopping experiences for the world’s largest and most innovative retail brands, including Wal-Mart, Sears, Target and others. In a recent study, the company analyzed nearly 700 million shopping sessions to benchmark the performance of Facebook, Twitter and Pinterest as drivers of traffic to retail sites.
Why We Buy author Paco Underhill and RichRelevance founder David Selinger to host industry salon that illuminates the consumer trends and behavior that will define this year’s holiday shopping season
A new study finds that Pinterest is proving to be quite valuable for online retailers. While it trails Facebook in a variety of metrics, it’s gaining ground in those, and is leading in one very important metric. Plus, Facebook’s dominance only stands to increase Pinterest’s value within the other metrics.
RichRelevance’s latest infographic on social shopping made eConsultancy’s recent top infographics list.
Shoppers who arrive at online retail sites by way of Pinterest spend $168.83 on average, compared to $94.70 for Facebook and $70.84 for Twitter, according to a study released in September 2012 by RichRelevance. The report, based on data from more than 689 million shopping sessions from January 1 to August 31, 2012, finds that Pinterest trailed Facebook in average revenue per referral session ($1.60 vs. $2.50) during that time period, but has rivaled or exceeded Facebook in the past 3 months on this measure.Shoppers referred from both social networks are ahead of shoppers arriving from Twitter, whose average revenue-per-session was $0.80 during the time period.
While Facebook dominates in socially-driven shopping, Pinterest is driving the highest average spending per online shopping session.
RichRelevance, a specialist in dynamic e-commerce personalization for the world’s largest retailers, analyzed nearly 700 million shopping sessions to benchmark the performance of Facebook, Twitter and Pinterest as drivers of traffic to retail sites.
“Every social network promises a new way of connecting consumers with retailers and brands,” stated Diane Kegley, CMO of RichRelevance, of the firm’s latest Shopping Insights report. “However, the big take-away from our research is that not all channels in the social space are created equal.”
Today, we are introducing RichRelevance’s new communications platform, “It’s Personal.” I love this phrase because it captures the essence of our business in so many ways.
SF Business Times profiles how RichRelevance helps retailers monetize their sites through shopping media
Amazon.com and Walmart.com are increasingly acting like traditional media publishers by selling display advertising on their websites, and estimates put their resulting revenue in the hundreds of millions of dollars a year.
Now other online retailers are following suit in hopes of monetizing the eyeballs their content attracts — regardless of whether they make a product sale.
A couple of San Francisco companies are riding the trend and are at the forefront of what experts say could quickly become a multi-billion dollar market: Connecting advertisers with retailers, designing and selling ads, and then delivering them to consumers….