There are so many social networking website out now, it may be hard to keep up with all of them, but there is one that has been flying under the radar for some time now that deserves attention. It’s called Polyvore. Polyvore is comparable to Pinterest, except users only pin products they might want to buy. The slogan of this social network is “Discover, shop, and express your style.” Despite its small social reach when compared to networks like Facebook, Twitter and Pinterest, Polyvore drives 20% of all social commerce; that is more than Pinterest.
The top network for social commerce is Facebook, which drives 60% of social commerce. Polyvore comes in second at 20%, and Pinterest follows at 15%. According to Diane Kegley, Chief Marketing Officer for RichRelevant, “Facebook’s audience is huge, so it’s not surprising that they drive a mass audience, with somewhat lower average spend, on retail sites. Pinterest and Polyvore attract a different shopper – in large part because of the user experience: those sites are very visual and engaging – and in many ways mimic a curated catalog experience with ensemble shopping.”
When looking at the average conversion rate, Facebook has a 2.69% conversion. Polyvore and Pinterest have both about a 1% conversion, while Twitter only has an average .49% conversion rate.
The most remarkable thing to look at, however, is the average order rate. The average order driven from Twitter is less than $60. Online orders driven from Facebook average slightly over $90. The average order driven from Pinterest jumps to $200, and the average order from Polyvore jumps to $383. Polyvore’s average order is highly impressive, especially when compared to the other social networks. Polyvore attracts a higher priced items and a network of people willing to pay more.
Researchers are trying to determine how important social commerce is in the larger scheme of things. In one study, 700 million shopping sessions were examined. Within those, Facebook accounted for $10.7 million is sales. Polyvore accounted for $6.34 million, which is nearly 60% of Facebook’s. This is so impressive because of the relative size; Polyvore is much smaller than Facebook.
According to Kegley, the major brands and retailers typically focus on the three biggest social networks; Twitter, Facebook and Pinterest. However, when looking at the actual sales volume and average order, retailers and brands need to be looking more at Polyvore. “The consumers on Polyvore are in buying mode, and there is real value to retailers and brands when social consumers are in that mindset.”