Factoring 101 Blog - Acounts Receivable Factoring and Other Industry News

Shopping with Social Media

Today nearly everyone is connected to at least one form of social media, and nearly everybody is doing their shopping online. However, you may be surprised by what role social media plays when people are shopping for furniture or other merchandise for their home.

Two thirds of all adults in America are connected to social media. It probably comes as no surprise, but the younger you are, the more likely you are to be connected. 90% of all adults under the age of 30 are connected to social media. However, social media isn't just for young people, 35% of those over the age of 65 are also connected.

When it comes to which sites people use, Facebook is easily the most popular with almost three quarters of internet users connected to it; it gets nearly half of all social media traffic. When it comes to mobile usage, the Facebook app accounted for 19% of the time that Americans spend on mobile devices. Almost one third of internet users are connected to Pintrest, however Pintrest gets less than 2% of all social media traffic. These are followed by Instagram, LinkedIn, and Twitter for having the most people connected, but like Pintrest, Instagram and LinkedIn each get less than 2% of all social media traffic, while Twitter gets a little less than 5% of all social media traffic. While it may not have that many people connected to it, YouTube receives nearly a quarter of all social media traffic.

Of course it isn't just individuals using social media, but businesses as well. 86% of all furniture stores are connected to at least one form of social media, and the average store will dedicate 3% of its advertising budget towards social media campaigns. It should come as no surprise that Facebook is the most popular choice for furniture stores, with 88% of those with social media accounts having a Facebook account. After that comes Twitter and Pintrest, each of which are used by 62% of furniture stores that have social media accounts. Finally, Instagram is used by 32% of furniture stores with social media accounts.

While those numbers above might appear to make sense given how many people are connected and how much traffic each social media site receives, you might be surprised about which sites actually translate into sales. When it comes to researching furniture, only 5% of consumers will use Facebook for research. Pintrest is actually far and away the most popular social media site for researching furniture with over half of all consumers who research funiture online using it for their furniture shopping. For those ages 18-35, 61% of them will use Pintrest to research furniture. Those numbers drop down to 55% for those ages 36-51, 50% for those ages 52-60, and 36% for those ages 61-70. After Pintrest, Instagram is the next best social media to use when researching furniture. Instagram is used by 26% of those ages 18-35 and 12% by those ages 36 to 51, however for those 52 and over, it is only used by 3% of consumers. The least popular social media for researching furniture is Twitter. Less than 1% of consumers use Twitter for researching furniture, and that is regardless of how old they are.

As a furniture or housewares manufacturer or importer, one way you can increase your sales and help out your customers is by displaying your merchandise on Pintrest. After all, if you show off your merchandise on Pintrest, it will benefit all of the retailers who purchase from you, while also saving them some time and effort. And who knows, you might even get noticed by a few retailers who don't currently buy from you and pick up a few new accounts.

Social media is certainly an important advertising forum for the furniture industry. However, it is important to make sure that you are investing in the correct sites in order to reach the most retailers and consumers. If you don't have the time or money to advertise on social media, give DSA Factors a call today at 773-248-9000. By factoring your accounts receivable, we can provide you with the cash flow you need to start your next social media campaign, as well as free up some time by handling all of your credit checking and collection work.

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