Report Reveals Weapon Against Amazon: Brand Talk From Shoppers
Engagement Lab's TotalSocial score report showed that consumer conversations about brands drive 19 percent of sales.
The latest research data from Engagement Labs shows that “consumer conversations” about a brand, which includes face-to-face discussions as well as on social media, drive 19 percent of U.S. retail sales.
That equates to about $7 trillion of all consumer spending in the U.S. And for fashion apparel and accessories, that would amount to more than $20 billion. Researchers at the firm said Amazon dominates these consumer conversations “and is the focus of more consumer talk than any other retail brand, which equates to increased sales.”
Authors of the report, which was based on data derived from the company’s proprietary “TotalSocial” scoring and analysis, described consumer conversations about a brand as “a formidable competitor across every retail category,” which is why the researchers said “it is imperative for retail marketers to leverage strategies that motivate consumers to talk about their brands.”
Read the full WWD article, here.
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