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Social shopping to drive online retail growth

Social shopping to drive online retail growth
Tuesday May 15 2012 carried out a survey which found that more than one in four (27 per cent) consumers under the age of 35 have shared details of a purchase they have made on platforms such as Facebook and Twitter.

Nearly two-thirds (65 per cent) of respondents said they are more likely to buy something if they have encountered a positive review of the item through social media channels.

BagThat's research also highlighted the importance of word-of-mouth in shopping trends, with 43 per cent of people saying they rely on friends' suggestions when making purchases.

This proportion increases to 54 per cent in the under-35 age group.Only ten per cent of shoppers said they take parents' recommendations into account and five per cent rely on input from work colleagues.

BagThat was launched on the premise that social shopping is the future, according to founder and chief executive officer Andy Sutton.

The site allows customers to bid or 'haggle' for products by stating what they are willing to pay and trying to secure a discount through social networks.

"British shoppers are all individually buying the same products, and in the context of the difficult economic climate and this socially connected world, it makes sense for people to get together and collectively buy products if it means getting a much better deal," said Mr Sutton.