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Facebook Study: Insights into Retail

As we’re dusting ourselves off from the silly season, Facebook has gifted us with its insights from the world of retail.

Read on for the key takeaways.

Surprise surprise, Online First

Facebook reckons online shopping will account for 23% of all retail sales by 2020. This is up from 12% in 2016.

Conversely, traditional retail is expected to increase by just 7% over the same period.

Interestingly, mobile is helping blur the line between on and offline shopping.

Customers are increasingly using mobile in bricks-and-mortar stores to research items, compare prices, and download coupons.

To combat this, Facebook recommends retailers integrate digital elements with the in-store experience, including apps and AR/VR experiences.

Mobile money

Mobile is the first screen most users turn to when shopping, yet many retailers are yet to embrace a mobile-first approach.

Facebook says 56% of internet users visited an online shop via mobile in Q1 2017, a dramatic rise of 44% year-on-year.

Finally, you really can’t ignore video anymore. In the Asia-Pacific region, one quarter of people consume video on mobile. This figure is expected to rise sharply in the next year.

Facebook has some suggestions about how to use their marketing tools to benefit from the current retail climate. You can read all about it here.

Have you noticed your own retail preferences changes over the past year? What’s your online shopping platform of choice?

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