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Online retailers are increasingly tapping into user-generated content (UGC) as a way of increasing sales and improving customer satisfaction, according to research published Wednesday by E-consultancy and Bazaarvoice, MarketingCharts reports.
Some of the findings of “Social Commerce Report 2007“:
The research also found that the environment for online sellers over the last 12 months has been a very positive one, with half of online sellers (50 percent) saying they expect growth of 20 percent or more in the next year.
Linus Gregoriadis, E-consultancy’s Head of Research, said: “The research shows that it’s a very healthy environment for e-commerce but increased competition in the marketplace means that companies need to work harder to maintain strong growth.
“Tapping into social commerce can be a great way of gaining a competitive advantage, for example through ratings and reviews. But apart from the early adopters, this is something a large proportion of online retailers are only just starting to think seriously about.”
MarketingCharts offers more findings from the study.
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