Retailers missing out on sales due to social media failures


The majority of high street retailers are failing to engage with consumers on social media, according to a recent study into the shopping habits of young consumers.

The study, commissioned by Maybe*, a new platform that helps consumers decide what to buy, found that one in four shoppers aged between 16 and 34 turn to social media for inspiration before making a purchase.

Maybe* questioned 1,978 young adults in a bid to understand how millennial shoppers make their purchasing decisions.

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Additional research questioned 296 Gloucestershire-based retailers, which revealed that a staggering 74% of those outlets polled didn’t actively use Twitter or Facebook.

Polly Barnfield OBE, founder of Maybe*, said: “The research presents an interesting dichotomy. On the one hand, 1 in 4 millennial shoppers are actively using social media to influence their decision making, yet on the other three quarters of retailers are failing to tap into that market. Consequently, they’re missing a huge opportunity to engage with consumers and help to facilitate a sale.”

Maybe* is working in partnership with the University of Gloucestershire and the University of Nottingham to establish retail and consumer trends in a bid to understand the gap between shopping and buying.

Barnfield added: “The critical aspect of the consumer journey is the part between that of the act of going shopping and that of actually making a purchase. In order to survive, and indeed thrive, retailers need to shine a light on that process and bridge the gap between these where possible. Our research findings suggest that social media is a key component and one that retailers should be exploiting.”

Tags : high street retailersmillennialssocial media

The author Stacey Hailes

Editor, Professional Jeweller

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