It was only one year ago my first Get Elastic post went live, how quickly the year has gone! The post was the Social Shopping Roundup and it showcased many social shopping start-ups from social bookmarking or “wishlisting,” to deals and coupon sharing communities and social comparison engines.

According to Hitwise analyst, Heather Dougherty “The Social Shopping category is still small, receiving less than 1% of the total market share of US visits, but there has been significant growth.” (Source)

Scott Hurff of CSE Strategies puts it into perspective - MySpace receives about 2% of Internet traffic. So for every 2 hits on MySpace (or Facebook), someone’s checking out a social shopping site. Of the social shopping sites, Kaboodle appears to be the Google in terms of market share:

• Kaboodle 68%

• Buzzillions 8.23% (Ratings and Reviews, Comparison Shopping)
• ThisNext 7.23%
• ShopWiki 6.89%
• Stylehive 5.18%

With the exception of Buzzillions, the top 5 are “social bookmarking” sites. There are no doubt countless other sites where consumers can bookmark and share products, deals and coupons, read ratings and reviews and find deals - and perhaps as many Facebook applications. We don’t need a comprehensive list of players in this space. Rather, this year’s roundup focuses on social shopping sites that address key trends in ecommerce like video / widget marketing, live chat, email / RSS, user-generated merchandising or offer a twist on traditional comparison shopping.

Video / Widget Marketing

Qoof.com

Qoof provides product video widgets for etailers and content publishers (affiliates) to bring an interactive experience to product descriptions. The Flash-based widget can be embedded on the etailer’s website or on the affiliate site. Transactions can actually be completed through the widget which eliminates the need for a shopping cart, or the customer can be directed to the online store to purchase. You can check out the Widget Showcase with examples from Ice.com, Drugstore.com and more.

What early adopters of this product may enjoy is the ability to stand out from other affiliate offers. Product video is growing in popularity, and it won’t be long before most sites offer some kind of video complement to product images. You may also be more attractive to affiliates who are looking for multi-media content to boost their own conversions.

Whether customers like it or not is a different story. To be honest, there are not a lot of ecommerce widgets out there so I have my fingers crossed that there will be more interesting things being done with portable video content by this time next year, with more data on its effectiveness.

How to get involved: See Qoof.com’s Etailer Page.

Continue Reading:
Social Shopping Reviews Roundup: 2008 Update »