Pre-Internet, the motto for shopping could've been "try and buy." Nowadays, social media and mobile devices add a new dimension to the retail experience.
Online tools such as review sites, social networks and smartphones produce data for merchants that, if analyzed properly "in real time," can transform the way consumers shop, according to a new infographic by custom development firm Symphony Teleca. This, in turn, would equal big bucks for business owners.
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"By mining the mountain of internal and external data they're compiling, retailers can provide targeted, relevant and timely offers to their customers, simultaneously improving the customer shopping experience and the company's bottom-line," says spokeswoman Brittany Klontz.
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Entitled "The Meaning of Like," the infographic shows just how much consumers are connected to the web. A staggering 167 million people will shop online this year, spending an average of $1,800 per person, it reveals. Unsurprisingly, shoppers are using their smartphones to look for sales and special deals, as well as read product reviews and ratings.
Other tidbits include: 64% of smartphone owners shop online using their devices; 40% of Twitter users say they search for products on the microblogging tool; and 60% of Facebook users say they would discuss a product or service if they were offered a discount.
The infographic breaks down how companies such as Wal-Mart and Starbucks are using social networks to engage shoppers. It also looks at how businesses are using mobile point of sale (POS) transactions to get insight into consumer data, sales records and inventory.
For more, check out this exclusive look at the "The Meaning of Like," below.
This story originally published on Mashable here.