How data from social media can help retailers succeed

How data from social media can help retailers succeed

It is no mystery that retailers have struggled to utilize social media platforms for sales and leads. According to V12, 90% of social media users reach out to retailers. Most retailers recognize the influencing power of social media in areas of consumer retention and loyalty. In our digital age, traditional forms of advertisements are not enough, and retailers can increase profitability and consumer usage with social media data.

Engagement with Millennials and Generation Z
Tech-savvy Millennials and Gen Zs dictate consumer preferences. Consumers are online than ever before, and they prefer to be social and on their phones. Retailers need to reach for a personal and authentic approach. The Influence of Recommendations in Social Media on Purchase Intentions of Generations Y and Z claims that these two generations will serve 75% of the labor force. By marketing to these groups, retailers will ensure the engagement of the younger demographic and continuous data insights and predictions.

In the same study, Millennials and Generation Z shopping insights depend on two factors, shared experience, and opinion leaders. Shared experience consists of online reviews of products on a retailer’s website or social platform. Opinion leaders, such as bloggers, increase the online credibility of the retailer. Thus, when users are online, they will be recommended a specific retailer with these critical elements in mind.

Lululemon: Optimal engagement and consistent story
Lululemon’s brand focuses on athletic and casual wear for women and men. The brand caters to the luxurious athleisure community. Lululemon takes advantage of social media platforms such as Instagram because a majority of the consumers are women.

In this post, they take advantage of Mother’s Day by promoting their clothes and athletic products on their Instagram post. With a simple touch, the consumers are transferred over to the company’s page. Engaging with influencers can increase the viewership of a social media post. Influencers serve as creditors of the product.