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Boosting sales through social gifting

+ Official Coverage on Retail TouchPoints

25 June 2013
Retail TouchPoints

Boosting sales through social gifting

Social gifting is a fast-growing marketing tactic that allows consumers to instantly share gifts with friends via social media. With retailers on a constant lookout for new ways to bump up sale conversions, how will social gifting change the retail environment? Leon Perera, Chief Executive Officer of Spire Research and Consulting, was invited to share his thoughts on Retail TouchPoints.

More consumers are using social media to research on brands and products prior to purchases. This has led to social media becoming an alternate marketing and sales channel. Many retailers have begun to integrate social media engagements into their marketing strategies.

Perera observed that a few deeper trends explain this new channel. Consumers’ expectations are on the rise, and that there is a need for retailers to provide more multi-channel experiences to boost sales. As such, applications such as Facebook Gifts, Boomerang and Wrapp have emerged to make it easier for consumers to send digital gift cards and redeem coupons. Social gifting also enhances collaboration amongst social connections. For instance, there are applications which allow family or friends to pool money to send a shared gift card or a redeemable coupon to someone they care about.

Despite the current momentum behind social gifting, it remains to be seen if this marketing tactic is here to stay, or whether it will be just another fad.

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