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The latest eMarketer report, Social Media and Shopping Behavior, takes a look at how consumers are using social media sites to influence their purchase decisions. The report states that 85% of Gen Y participate in social networking and 57% are involved with blogs.
The report also cites an Internet Retailer report found 39.3% of their retail respondents use social networks, 32% have a page on Facebook, 27% on MySpace, 26% on YouTube, and 5% on Flickr. The eMarketer report goes on to reference another report by Nuance Communications that online rating systems, discussion forums and blogs are believed to be the most valuable social media sources.