Morpace Reports: Facebook Provides Retailers with Valuable Marketing Opportunity
FARMINGTON HILLS, Mich., June 24, 2010 /PRNewswire via COMTEX/ --
Consumers spend about one-third of their Internet time each week logged into their Facebook account, a trend that gives retailers and other businesses an opportunity to use the social media website to reach its target market, according to the May Morpace Omnibus Study.
Consumers spend an average of 7.3 hours each week on Facebook, and 22.4 hours on the Internet overall. Consumers ages 18-34 spend 8.5 hours a week on Facebook. Consumers who have an income of more than $100,000 per year spend even more time on Facebook at 9 hours per week.
The Morpace results also reveal considerable variability between ethnic groups. Asians spend 10.6 hours a week on Facebook, or 40 percent of their total Facebook time. African Americans spend 7.8 hours a week on Facebook, equating to 35 percent of their total Internet time.
"This study shows how powerful of a tool Facebook can be for retailers who are looking for an opportunity to reach their target audience," said Kirsten Denyes, Morpace Vice President, Retail. "Our results suggest that a presence on Facebook can not only improve consumer awareness but also fulfill the consumers' desire for product knowledge, events, and promotions."
"Research developed earlier this year by Morpace showed that consumers increasingly 'like' business or product-related Facebook pages because of discounts/coupons or other product information offered," Denyes said.
In comparison to these earlier findings, the May Omnibus report shows that consumers have integrated Facebook into their daily lives through multi-tasking. While on Facebook, 68 percent of consumers are also checking email. Additionally, 55 percent of consumers are searching the Internet simultaneous to Facebook usage. The third most widely reported activity while on Facebook is watching television (47 percent).
A total of 1,000 consumers were surveyed May 7-13 as part of the May Morpace Omnibus.
About Morpace Inc.
Morpace is a full-service survey research and consulting organization specializing in automotive, financial services, health care, retail and technology. Morpace provides global expertise and proprietary solutions in four core areas: brand and communications; consumer choice; market and product development; and satisfaction and loyalty.
Morpace, an ISO 9001:2008 certified organization, is headquartered in Farmington Hills, Mich.
SOURCE Morpace Inc.
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