The Impact Of Social Commerce On Society
Which raises questions, how much of an impact does social commerce have in our society, what are the current trends, what is the competition like? Understanding that social commerce is a subset of e-commerce is the first step. It has impacted the economy as a new resource which has had a positive impact, and in the process, it has inspired competition between companies. The fact is that there are many dimensions to social commerce.
What is social commerce? As mentioned earlier, technology is a staple in our everyday lives. We use it to educate, entertain, communicate, and to accomplish everyday tasks. The old traditional way to do things are being replaced to fit the needs of faster service, accessibility, and ease. E-commerce is an embodiment of those needs. “E-commerce is the process of buying and selling goods and services through the use of internet” (Bidgoldi, 169). It does this through different categories, Business-to-Business (B2B) refers to electronic commerce between businesses rather than between a business and a consumer. B2B businesses deal with many businesses, most times hundreds or thousands and either as customers or …show more content…
Instagram is a social network mobile app that allows users to photo-share, and video-share. It allows users to share their photos and videos publicly or privately. Furthermore, users can share what they post to other social networks, such as, Facebook, Twitter, and Tumblr. Today Instagram has about 500 million active users. According to an article on Hootsuite.com, “Not surprisingly, 55 percent of all online 18- to 29-year olds in the U.S. are using Instagram, according to the Pew Research study. The next largest Instagram age demographic is 30 to 49 years-old at 28 percent usage followed by 50 to 64 year-olds at 11 percent” (Hootsuite, 2016). These statistics represent the 83% of Instagram users under the age of 50. What this means to Instagram is opportunity, companies want to reach out to millions of users and are able to that through social media platforms. Social Commerce is available to businesses using Instagram as a platform. Businesses are able to promote their products or services by sharing their stories to an audience of 500 million. According to a report on Business Insider, “We find that Instagram is largely made up of urban, youthful demographics, with a significant skew toward women” (BI, 2016). Bloom & Wild is a company based in the United Kingdom, that allows customers to send an arrangement of flowers with a click of a button. Each bouquet is hand-picked and designed by a professional flower florist. They have