When Howard Schultz came on board with Starbucks in 1982, he advised the company to evolve its business from coffee beans and accessories to coffeehouse culture and espresso by the cup. The idea was initially met with rejection from company founders. Given Starbucks’ meteoric rise since then, the rest is history, with the lesson that businesses must be cognizant of market trends and embrace new channels that promise growth.
Similarly, retailers ignore social channels at their own risk, and a number of recent market trends have coalesced to make social commerce top of mind. A majority (58%) of all consumers now research products online before purchasing, and half of those consumers publish comments or reviews online about the products they buy. Global e-commerce revenue figures continue to grow at a faster rate (19%) than the economy as a whole. Over 750 million users have flocked to Facebook to interact and share with friends. These developments have created a fertile ecosystem for retailers seeking to cultivate new revenue streams using social media.
To read the full, original article click on this link: 3 ways to build social commerce on your site — Tech News and Analysis
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