As consumers increasingly turn to social media to meet more of their day-to-day needs, a small but significant share of subscription merchants is leveraging these platforms to bring consumers on board, PYMNTS Intelligence revealed.
The PYMNTS Intelligence study “The Replenish Economy: A Household Supply Deep Dive,” created in collaboration with sticky.io, draws from a survey of more than 2,000 U.S. consumers and more than 180 retail subscription merchants to understand the impacts retail subscriptions and their features have on consumer shopping habits. The study revealed that 31% offer consumers the ability to create an account using existing social media profiles, up slightly from months earlier.
These findings are especially key given the strong correlation between social media sign-ups and merchants’ performance. The PYMNTS Intelligence study “Decision Guide: The Retail Subscription Features That Make Top-Performing Merchants” revealed that 80% of top-performing merchants offer social media sign-ups. In comparison, only 7% of the bottom performers do the same.
These studies shed light on the evolving dynamics between retail subscriptions and social media integration, offering valuable insights for both merchants navigating the increasingly interconnected landscape of eCommerce and social platforms.
Granted, consumers are primarily using social media to learn about merchants more than to make purchases directly. The PYMNTS Intelligence report “Tracking the Digital Payments Takeover: Monetizing Social Media,” which drew from a survey of nearly 3,000 U.S. consumers, revealed that 43% browse social media to find goods and services. However, only 14% made a purchase.
As these PYMNTS Intelligence findings reveal, while a significant portion of subscription merchants are tapping into social media platforms to engage consumers, there’s still a notable gap between browsing and purchasing behaviors, suggesting opportunities for further exploration and optimization in leveraging social media for direct transactions in the future as consumers look for their tech to do more in their daily lives.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More