L2 Think Tank recently released a study focused on speciality retail. eMarketer published some information from the study including the chart below, that shows social media is not really have that big an impact on ecommerce sales.
This social referral result is from speciality retailers with a 90% use rate on Facebook, Insta, Pinterest, Twitter, YouTube and the like. Which lead to the question "are online retailers wasting their time on social media?"
I don't think so. They are just not doing it right. At nCrowd our directly attributable social conversions are apporaching the referral traffic noted in the report. Of course that means our referral rate is much higher. My only conclusion is that the retailers in the study are not wasting their time investing on social. They have just not tuned the dials to see stronger results yet. They will, and over time the ecommerce traffic from social will rise toward its share of overall Internet use.