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Shopping Technology Fears and How We Got Over them

Fears and How We SHOPPING Feors ond How We COE Over Them TECHNOLOGY Facebook shopping is the future of social commerce, but not all consumers are convinced. Take a look at some other shopping platforms that received equal skepticism when they debuted. CREDIT CARDS / FIRST INTRODUCED IN THE 1950s INITIAL CONCERNS: • Early credit card materials made them easy to duplicate, so both consumers and retailers feared identity theft • At first, credit cards were only good for certain retailers PROOF WE ADAPTED: •1 in 7 Americans has at least 10 credit cards: • Credit card circulation in America in 2010: AMERICAN EXPRESS 48,900,000 171,000,000 Mastertard VISA 269,000,000 ONLINE SHOPPING / FIRST POPULARIZED IN THE 1990s INITIAL CONCERNS: • No way for consumers to return orders they did not like • Shoppers could not try on or test the merchandise PROOF WE ADAPTED: • Cyber Monday 2010 was the heaviest online spending day to date, bringing in $1 billion in online spending: • More than 10 million retailers are currently active online: BUY NOW! eAY amazon.com ONLINE BANKING / FIRST POPULARIZED IN THE 2000s INITIAL CONCERNS: • Identity theft and fraud • Other institutions have access to account information PROOF WE ADAPTED: Growth of American households banking online: 50% 40% 30% 20% 10% 0% 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 FACEBOOK SHOPPING / FIRST POPULARIZED IN THE 2010s ************** INITIAL CONCERNS: • Shoppers were apprehensive about sharing credit card information with a social network • They preferred buying items through more trusted retailer webstores PROOF WE ARE ADAPTING: • Social commerce is estimated to reach $5 billion in 2011: • Retailers who sell through Facebook use the same security measures as other online retailers - i.e. payment transaction through PayPal or Authorize.net: facebook PayPal Authorize.Net Click Tab JUICE TO LEARN MORE VISIT US AT TABJUICE.COM f FACEBOOK.COM/TABJUICE ETWITTER.COM/TABJUICE SOURCES: CREDITCARDS.COM ARTICLES.MONEYCENTRAL.MSN.COM EHOW.COM | MASHABLE.COM RADINFOGRAPHICS.COM ASSOCIATEDCONTENT.cOM | FORRESTER RESEARCH MERCHANT CIRCLE SU66L 1950s SUU07 SULUZ

Shopping Technology Fears and How We Got Over them

shared by Stephania on Aug 05
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Reveals the initial fears we all had with emerging technology like the credit card, online shopping, and online banking. Our tech fears are now shifting over to Social Commerce as more Facebook stores appear.

Publisher

TabJuice

Designer

Gabe Aguilera

Category

Social Media
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