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Showing posts with label facebook research. Show all posts
Showing posts with label facebook research. Show all posts

April 11, 2011

Consumer Spending On Facebook To Reach $1.2 billion

Industry experts suggest that the volume of transactions for physical goods on Facebook will top $250 million in 2011.As  Facebook user base nearing 650 million, Facebook Credits has been gaining traction as a virtual currency, and everyone from Warner Brothers, to JC Penney, to Brooks Brothers setting up shop, 2011 appears to be the year that social commerce reaches the tipping point.
According to Research by  Social Times Pro 
  • Social commerce is inclusive of Facebook storefronts, but the larger revenue opportunity extends beyond the social network to retailers’ own sites, mobile devices, as well as startups launching new content and commerce platforms.
  •  Facebook sales represent less than 10 percent of monthly revenue for a majority of retailers currently operating storefronts on the platform. There are still significant risks and barriers that will prevent that percentage from reaching double-digits within the next 12 months.
  •  Projections for retail revenue generated from Facebook commerce in 2011 are closer to the $75 million to $100 million range.The most bullish estimates of 2011 consumer spending on physical goods on Facebook go as high as $1.2 billion.