Social commerce is white hot. Not surprisingly, a recent report from Foresee Results indicated that Facebook is by far the most effective way for retailers to woo would-be shoppers. The report indicates that, of the 69% of online shoppers who are social media users, 56% have chosen to “friend,” “follow,” or “subscribe to” at least one store brand on Facebook. And 49% of those who follow brands through Facebook want to hear about deals, and 45% want to browse products. To address the needs of brands and retailers in the online and social spaces, the Lab recently partnered with startup social commerce engine, Adgregate. The Lab was excited to learn about Adgregate’s ShopFans product because it provides the â€œglueâ€ to tie conversations happening in the social graph to conversions in the store.
To hear more about their new Facebook application and how it will transform online purchasing across the social universe, I put these questions to Adgregate Founder and CEO, Henry Wong, a former venture capitalist at Novus Ventures. Continue reading “ShopFans provides glue between social and retail”