Social media and economics
It is interesting to report that the e-commerce spending by the US retail sector reached around $32 billion in the third quarter of 2010. A little more than mere calculations these statistics reveal the current enterprise significance of social network sites. Internet networking is becoming the monetary hub of current business practice, turning the business owners to invest heavily in social networking and turn the potential consumers into their customers.
Strength of Social Shopping Sites
The basic feature of social shopping sites is the aggregation of retailers and consumers on one platform, where they share the information related to products, prices, and prices coming in deal packages.
This bulk characteristic actually brings discounts for the buyers, attracting them to make the shop. For instance, unless a significant number of people do not get ready for a group buying, deals may not become activated. These deals provide the individual buyer significant benefit of discounted price, value added stuff or may be an additional free product or service.
These bulk buying deals are one to approach a greater number of buyers through online shopping sites.
Online Shopping Fronts Integrating with Social Media
Social shopping sites have provided new avenues to retailers to create their online shop fronts. It is advised to retailers to necessarily create their shop fronts on Facebook and twitter.
These forums are hyper active and a single ‘shop’ tab on Facebook is a signal for easy accessibility for thousands online there at a moment. The availability of prices from the retailer and the instant feedback and comment on products creates a democratic structure.
Buyers desire such a shopping atmosphere where their decision making can easily be achieved. Due to the help of recommendations and product reviews, online shopping sites become busy bee with customers.
Social Shopping sites attract more customers, not just traffic
Businesses should hire the middle groups of online collective service buyers which are paid-for-performance advertising and sales engine. For instance, in the case of Groupon, it receives a fee for each sale it makes for the particular business. It has been regarded as a great way to capture more business and attract new buyers.
What may turn a potential buyer into Your Customer?
Social shopping through online shopping sites must be delivered in an easy to approach manner. There must clear elaboration of the intended benefits for the consumer without any hidden contexts. If the consumer finds ambiguous details on the sites, it will naturally drift him away, too far away.
The social shopping sites must be so well stitched with the social networking options so that the consumer is able to utilize both options with ease. Good networking results in the good shopping, therefore they both must complement each other strongly so that the social user does not have to go two ways for a single purpose.
More local retailers must take part on the social shopping sites; people tend towards local buying more than the global ones. The casual shopping if gets addressed online, it may bring greater facilities to the consumer and more buyers will look towards this option. When no shipping is involved, who wants to stay behind then?
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