The New Lifeline for Retail
During Christmas of 2007, a link to a YouTube video of a men’s cappella group singing The Twelve Days of Christmas’ went viral. It was really not like any other version that people had ever heard. So what happened next? The only store that had 30 copies of the DVD by the group sold them all in no time. Internet Retailer reports that the popularity of the YouTube performance helped increase the sales of the store dramatically. The small store, with only two full-time employees, finally sold 5,300 copies of the DVD.
While this is a story from the last decade, the industry is still learning how to fully harness the potential of social media to boost brand awareness, engage customers and win business opportunities
Retailers are in a process of fully understanding social media and its capabilities.