F-commerce solution provider, 8thBridge has just published its latest in its series of social commerce reports covering different industry verticals (free download). This time, it’s the fashion industry, and the 104 page report is a careful analysis of the sector and includes a ranking of the top 200 fashion brands in terms of their ‘Social Commerce IQ’ (how smart these brands are in fusing social and sales technology). Top line; Shoe Dazzle dazzles and Manolo Blahnik sucks (last FB status update – March 2008).
Our top three take-outs…
- Mirror, Mirror on the Wall, who is the most social of them all?’ Of all industry verticals, the fashion industry is the most intimately social; fashion is defined socially and spreads socially, through a process of social diffusion. So it should come as no surprise that the fashion industry is socially smart – using social technology to sell smarter. We have a runway full of social geniuses led by the Kim Kardashian fronted ShoeDazzle and Jay-Z founded Rocawear, with Fergie Footwear and Jessica Simpson hot on their heels. Note to self: want social smarts, get celebrity.
- Accessorize, Accessorize… Fashion accessories sell best with social media – these fast-moving, low-risk and low-cost purchases fit the real-time mindset of social media. But what are the ‘social accessories’ that socially smart brands should accessorize themselves with? This latest 8thBridge Social Commerce IQTM report uncovers the fashion genes of social genius: Facebook integration on the e-commerce site, e-commerce integration on Facebook, frequent status updates offering fashion news and advice, a popular YouTube fashion channel – and all with high engagement (interaction) rates. Take a look at Coach, the upscale leather goods brand is doing a lot right.
- Facebook Fashion Formula: The secret to social smarts in fashion is to aid ‘social discovery'; helping consumers discover what’s on-trend and what’s on sale. Collecting Facebook Likes is a simple matter of offering shareable news about new offers with fashion-advice on latest trends. But what about making sales? Derived from genius fashion brands on Facebook; the solution is simple; make it a Facebook exclusive! (and offer it as a deal, or as an affordable impulse purchase). Stitch in some celebrity, and you’ll get an extra sales boost.
New Season Trends
So what’ll be on-trend next season in social commerce for the fashion industry? In-store social technology is likely to be in, if genius denim brand Diesel is anything to go by – with scan-to-
Like technology and Facebook connected fitting rooms. Social rewards programs are likely to be on-trend too, with JewelMint’s innovative rewards-for-social-actions program trailblazing. And watch out for more Burberry-style e-commerce enabled live-streaming, allowing people to comment, share and buy direct from fashion show live-streams. We think, video and real-time are likely to be 2012 ‘it’ girls in fashion-forward social commerce.