Social Commerce: The Evolution Of E-Commerce

Social Commerce: The Evolution Of E-Commerce

Social commerce is basically a version of electronic commerce that utilizes social media and online media to create a social interaction with contributions from users, to connect and streamline the buying and selling of products online. Consumer reviews are generally more trusted than reviews that come from manufacturers, as they appear less biased. By coupling consumer viewpoints with e-commerce, a new social network is created, allowing for the consumer to review different viewpoints and present their own on a given commerce website. Social commerce is a concept developed originally by David Biesel to accentuate user-generated advertising on e-commerce sites. Then Steve Rubel introduced mutual e-commerce tools which allowed users to be advised by trusted resources and other users to find products and services and then buy them as needed. The term "social commerce" was actually coined by Yahoo! In 2005 to describe user-generated pick lists and user ratings and content-sharing of product descriptions and ad information regarding online purchasing. Customer ratings and reviews drive social commerce by optimizing social media in online shopping. This created collaborative networks for online vendors, allowing for a virtually limitless breadth of online purchasing options. A company will develop a profile of products and services offered and of the manufacturer they use. This will then attract responses from consumers and vendors alike. From this, the company can expand their database to include new manufacturers interested in selling on the company site and consumers who are doing business with the site will then have feedback posted on the added manufacturers. By keeping track of all these activities, the company may then expand their advertorial base for the manufacturers' products which are sold on the company site. A list of partners is then available in one source and the social commerce grows from there. Company profiles are available immediately at the website and a consumer has no need to spend additional research time to determine the proper resource, as so many are available at one website along with customer reviews of each manufacturer listed. This word of mouth approach is generally well-trusted and influences a consumer's decision to use or not use a particular company. At a social commerce website, the consumer has access to many different companies and information regarding those companies. User recommendations and referrals, ratings and reviews, social shopping tools, and social media optimization make a site that generates its own business and attracts new manufacturers to be included in this beautiful symphony of social commerce. A social commerce site offers posting of company profiles that are both possible competitors as well as viable partners with which to work in helping a business to succeed. It cuts out the need for shopping around. As the site, grows it becomes a one-stop spot to review many potential clients and offers the opportunity for expansion of not only the social commerce site but for the consumers and businesses who routinely access the site. It is the perfect method for consumer and business transactions to take place.

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