The Meaning of Like

The Meaning of Like How Smart Devices and Social Analytics Are Transforming Retail -OX "******* Review sites, social networking, and mobile devices are valuable tools for savvy consumers today. For retailers, these tools are creating a mountain of valuable data, which, if analyzed properly in real time, can significantly transform the retail experience especially at point of sale. Here's how the "meaning of like" is transforming retail today. The State of Social Commerce ) 64% of smartphone users shop online using their devices. [51 167 million will hop online this yar $1,800 per person. and spend an average of 40% of Twitter users say they search for products through Twitter. The regular users of Facebook are extremely active shoppers. 60% said they would discuss a product or service if they were offered a discount or deal of some kind. -OX 51% of online shoppers consider social sites as valuable and credible resources for researching products and services. 2) Around a third of smartphone users have shared their location with a retail company using a check-in service. 51 O 62% of them hope to use location-based services one day. [51 Of the 6 billion mobile phone users, A Mountain of New Data - OX > Facebook . 10] Around 955 million 250 million active users. photos are uploaded every day. > Example Walmart 51 Their Facebook page has nearly 20 million Likes and over 1 million people are actively talking about them. Walmart's efforts around the world, product advertising, and various forms of marketing make their way to Facebook. Twitter 11 Close to 7,854 accounts are created every day. On a day with high traffic, there 175 million tweets. are around > Example Starbucks (6) Starbucks totes multiple handles on Twitter, including @Starbucks and @StarbucksStore. They have over 2,800,000 followers just for their Starbucks Coffee account. ) Google+ -OX 150 million An update or a new feature was launched every day, except one day, last year. active users. > Example Samsung USA 2] 8 +1 Samsung has 779,958 +1's on Google+ Their approach to Google+ is to provide updates about their newest products, occasionally using celebrities to promote them. Sites, Smartphones, and Socializing How much do social and community tools impact buyers? DI Customer Reviews 59% Question and Answer 42% Internet Forums 26% User-generated Videos 15% Facebook Fan Page 13% Facebook Newsfeed 13% Mobile 9% Twitter 9% Links to user-generated content (e.g. review sites, Facebook, Twitter) make up a quarter of the search results for the top 20 brands in the world.) > 53% In the year 2014, it's predicted of all retail sales, both online and offline. BI that the Internet will influence How are shoppers using their smartphone? 21 33% 33% 32% Looked for sales and specials. Looked at product reviews and ratings. Checked store info. 31% 31% 29% Compared prices on Amazon. Checked out an online store for a certain product. Looked around at other online retailers other than Amazon. 27% 26% 24% Used a site that focuses on providing competitive prices. Made sure the store had a product in their inventory. Scouted the prices for certain products on a retailer's mobile site. 85% of people anticipate a change in their shopping behavior in response to the growing number of user-generated content. 2 Why are consumers following their favorite brands on Pinterest? 14) Sale • 34% 36% 43% 51% Seek out information for events. Read or post Check for coupons and deals. Look around for product info. comments about goods and services. How Retailers Are Already Changing D [7, 11] Changing the Retail Experience in Real-Time Using mobile point of sale (POS) transactions, businesses, such as Apple, are working to eliminate long lines and reduce lost sales from Tong waits. More businesses are able to set up their stores faster and advertise exclusive deals and offers using tools such as: & Facebook Places Foursquare They're able to use the information obtained from social media and smartphone data to supply consumers with targeted offers when it's relevant to where they're shopping. Aside from being a delivery mechanism for special offers, smartphones provide the location of a user and what they might be doing at a specific moment in time. Data Creation and Utilization Retailers use POS system data to analyze sales records, inventory, and consumer data. Knowledge obtained via loyalty data and individual transactions is used to: Better understand Improve sales campaign targeting. consumer spending patterns. Utilizing data obtained from social media is being actively implemented to analyze customer behavior and address their potential needs. Utilizing big data could increase retailers' The average retailer in the United States has almost Online and web-based American retail sales will become over half of all sales by 2013. operating margins by 60%. 700 terabytes of stored data. It's anticipated that there will be a 30% annual growth rate in the quantity of connected nodes. The further adoption and development of big data levers have boosted many retail companies' capacity to increase productivity by at least .5% every year until 2020. Effects on operating margins in various levers: Marketing Merchandising Supply Chain 10 to 30% 10 to 40% 5 to 35% Conclusion - OX The decision for consumers to make a purchase is contingent on a number of factors in the modern age. These include comments made on review sites, through real-time updates via mobile devices, and numerous posts on social networks. By mining this mountain of data, retailers have the potential to further improve their point of sale experience. の www.symphonyteleca.com Twitter: @symphony_teleca Sources [1] http://thesocialskinny.com/99-new-social-media-stats-for-2012/ [2] http://www.powerreviews.com/assets/download/Social_Shopping_2011 Brief1.pdf [3] http://www.bazaarvoice.com/social-commerce-statistics [4] http://allfacebook.com/comscore-pinterest-retailers_b91050 [5] https://www.facebook.com/walmart [6] https://twitter.com/Starbucks [7] http://mashable.com/2011/01/12/social-mobile-retail/ [8] http://www.businessweek.com/ap/2012-07-27/number-of-active-users-at-facebook-over-the-years [9] http://thesocialskinny.com/100-more-social-media-statistics-for-2012/ [10] http://google-plus.com/7117/google-now-250-million-users-strong-june-2012/ [11] http://www.mckinsey.com/insights/mgi/research/technology_and_innovation/big_data_the_next_frontier_for _innovation [12] https://plus.google.com/+SamsungUSA/posts The Meaning of Like How Smart Devices and Social Analytics Are Transforming Retail -OX "******* Review sites, social networking, and mobile devices are valuable tools for savvy consumers today. For retailers, these tools are creating a mountain of valuable data, which, if analyzed properly in real time, can significantly transform the retail experience especially at point of sale. Here's how the "meaning of like" is transforming retail today. The State of Social Commerce ) 64% of smartphone users shop online using their devices. [51 167 million will hop online this yar $1,800 per person. and spend an average of 40% of Twitter users say they search for products through Twitter. The regular users of Facebook are extremely active shoppers. 60% said they would discuss a product or service if they were offered a discount or deal of some kind. -OX 51% of online shoppers consider social sites as valuable and credible resources for researching products and services. 2) Around a third of smartphone users have shared their location with a retail company using a check-in service. 51 O 62% of them hope to use location-based services one day. [51 Of the 6 billion mobile phone users, A Mountain of New Data - OX > Facebook . 10] Around 955 million 250 million active users. photos are uploaded every day. > Example Walmart 51 Their Facebook page has nearly 20 million Likes and over 1 million people are actively talking about them. Walmart's efforts around the world, product advertising, and various forms of marketing make their way to Facebook. Twitter 11 Close to 7,854 accounts are created every day. On a day with high traffic, there 175 million tweets. are around > Example Starbucks (6) Starbucks totes multiple handles on Twitter, including @Starbucks and @StarbucksStore. They have over 2,800,000 followers just for their Starbucks Coffee account. ) Google+ -OX 150 million An update or a new feature was launched every day, except one day, last year. active users. > Example Samsung USA 2] 8 +1 Samsung has 779,958 +1's on Google+ Their approach to Google+ is to provide updates about their newest products, occasionally using celebrities to promote them. Sites, Smartphones, and Socializing How much do social and community tools impact buyers? DI Customer Reviews 59% Question and Answer 42% Internet Forums 26% User-generated Videos 15% Facebook Fan Page 13% Facebook Newsfeed 13% Mobile 9% Twitter 9% Links to user-generated content (e.g. review sites, Facebook, Twitter) make up a quarter of the search results for the top 20 brands in the world.) > 53% In the year 2014, it's predicted of all retail sales, both online and offline. BI that the Internet will influence How are shoppers using their smartphone? 21 33% 33% 32% Looked for sales and specials. Looked at product reviews and ratings. Checked store info. 31% 31% 29% Compared prices on Amazon. Checked out an online store for a certain product. Looked around at other online retailers other than Amazon. 27% 26% 24% Used a site that focuses on providing competitive prices. Made sure the store had a product in their inventory. Scouted the prices for certain products on a retailer's mobile site. 85% of people anticipate a change in their shopping behavior in response to the growing number of user-generated content. 2 Why are consumers following their favorite brands on Pinterest? 14) Sale • 34% 36% 43% 51% Seek out information for events. Read or post Check for coupons and deals. Look around for product info. comments about goods and services. How Retailers Are Already Changing D [7, 11] Changing the Retail Experience in Real-Time Using mobile point of sale (POS) transactions, businesses, such as Apple, are working to eliminate long lines and reduce lost sales from Tong waits. More businesses are able to set up their stores faster and advertise exclusive deals and offers using tools such as: & Facebook Places Foursquare They're able to use the information obtained from social media and smartphone data to supply consumers with targeted offers when it's relevant to where they're shopping. Aside from being a delivery mechanism for special offers, smartphones provide the location of a user and what they might be doing at a specific moment in time. Data Creation and Utilization Retailers use POS system data to analyze sales records, inventory, and consumer data. Knowledge obtained via loyalty data and individual transactions is used to: Better understand Improve sales campaign targeting. consumer spending patterns. Utilizing data obtained from social media is being actively implemented to analyze customer behavior and address their potential needs. Utilizing big data could increase retailers' The average retailer in the United States has almost Online and web-based American retail sales will become over half of all sales by 2013. operating margins by 60%. 700 terabytes of stored data. It's anticipated that there will be a 30% annual growth rate in the quantity of connected nodes. The further adoption and development of big data levers have boosted many retail companies' capacity to increase productivity by at least .5% every year until 2020. Effects on operating margins in various levers: Marketing Merchandising Supply Chain 10 to 30% 10 to 40% 5 to 35% Conclusion - OX The decision for consumers to make a purchase is contingent on a number of factors in the modern age. These include comments made on review sites, through real-time updates via mobile devices, and numerous posts on social networks. By mining this mountain of data, retailers have the potential to further improve their point of sale experience. の www.symphonyteleca.com Twitter: @symphony_teleca Sources [1] http://thesocialskinny.com/99-new-social-media-stats-for-2012/ [2] http://www.powerreviews.com/assets/download/Social_Shopping_2011 Brief1.pdf [3] http://www.bazaarvoice.com/social-commerce-statistics [4] http://allfacebook.com/comscore-pinterest-retailers_b91050 [5] https://www.facebook.com/walmart [6] https://twitter.com/Starbucks [7] http://mashable.com/2011/01/12/social-mobile-retail/ [8] http://www.businessweek.com/ap/2012-07-27/number-of-active-users-at-facebook-over-the-years [9] http://thesocialskinny.com/100-more-social-media-statistics-for-2012/ [10] http://google-plus.com/7117/google-now-250-million-users-strong-june-2012/ [11] http://www.mckinsey.com/insights/mgi/research/technology_and_innovation/big_data_the_next_frontier_for _innovation [12] https://plus.google.com/+SamsungUSA/posts