Online holiday spending 15% increase and use of social media to educate consumers on brand and product attributes

Consumers are relying on the Internet to help them define value as well as actually purchase goods and services. Not only was online holiday spending was up about 15% this year over 2008, but consumers’ enhanced Internet use revolved more around understanding brand and product attributes before purchase. We can already see savvy retailers responding to this shift by deploying Twitter and other social networking channels to keep consumers informed.

via American Consumption and the New Normal – The Conversation – Harvard Business Review.

… and yet, statistics indicate that only 2% of companies are actively engaged in social media.

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