Wednesday, March 31, 2010

Morpace Reports: Facebook's Impact on Retailers

FARMINGTON HILLS, Mich., March 31 /PRNewswire/ -- Retailers who are actively involved in marketing their products and/or services using Facebook may have a distinct advantage over their competitors, according to the latest Morpace Omnibus study.

The study finds that not only are consumers joining Facebook fan pages that are managed by businesses, but they use Facebook as a means to offer and receive product recommendations. The study concentrates on three key areas: which consumer segments are most likely to use Facebook and how frequently; how often consumers search for or share product/company opinions or information, and which demographics are most likely to use the social media website.

"The results show us that Facebook is a tool for retailers to directly communicate with their target market," said Morpace Retail Vice President Kirsten Denyes. "Retailers can offer consumers product information and exclusive coupons and discounts to create viral product buzz among Facebook consumers," Denyes added.

Among the primary reasons consumers join a Facebook fan page are: "To let my friends know what products I support," (41 percent) and "To receive coupons and discount offers," (37 percent). More than 36 percent of consumers consider Facebook to be a useful tool for researching products.

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