NEW YORK: Web users in the US remain reluctant to embrace social commerce due to fears over payment security, a study has shown.
Digitas, the agency network, and Harris Interactive, the survey firm, polled 2,247 social media users about such payments, finding that just 20% were willing to buy goods from their "favourite brands" on platforms like Facebook.
Moreover, 75% of the panel said a friend's "open endorsement" of a product on social media would have a greater impact on probable purchase intent than "following" a brand themselves.
Exactly a fifth of the sample said they would make group buying purchases from these services, and 18% were more likely to make such acquisitions in this way than from more established online retailers.
Elsewhere, 74% of the sample displayed little or no interest in using virtual currencies like Facebook Credits and Bitcoin for social commerce transactions.
Moreover, 55% of the participants were not "comfortable" entering credit card details on social sites, whereas 45% were at least "somewhat" relaxed about providing a "known brand" this data.
A 49% share of male contributors would be willing to make payments in this way. This total fell to 40% of females.
Differences also emerged between income groups, as 50% of people with household earnings over $35,000 a year would consider social payments. But just 38% of less affluent users said the same.
Age was another differentiator, with willingness to make social commerce payments standing at 49% and 35% respectively for 18-54 year olds and over-55s.
In all, the typical social media user signing in via a computer spent 56.3 minutes using these services per day. This dropped to 50.7 minutes for those using the sites via the mobile web.
As previously reported, Booz & Company, the consultancy, has estimated that social commerce will be worth $3bn in the US this year, from a global total of $9bn.
Data sourced from Digitas; additional content by Warc staff