Social commerce is often a subset of electronic commerce that needs using social media, online media that supports social interaction, and user contributions to help in the online buying and selling of products and services.
More succinctly, social commerce is the use of social networks while e-commerce transactions.
The term social commerce was created by Yahoo! in November 2005 to spell it out a set of online collaborative shopping tools such as shared pick lists, user ratings and other user-generated content-sharing of online product information and advice.
The concept of social commerce was made by David Beisel to denote user-generated advertorial content on e-commerce sites, and also by Steve Rubel to include collaborative e-commerce tools that enable shoppers “to get advice from trusted individuals, find goods and services and then purchase them”. The social networks that spread these tips have been found to increase the customer’s trust in one retailer over another.
Today, the region of social commerce has become expanded to include all the different social media tools and content employed in the context of e-commerce, particularly in the fashion industry. Examples of Social commerce include customer ratings and reviews, user recommendations and referrals, social shopping tools (sharing the act of shopping online), forums and communities, social networking optimization, social applications and social advertising. Technologies for example Augmented Reality are also used with social commerce, allowing shoppers to visualise apparel items on themselves and solicit feedback through social networking tools.
Some academics have sought to distinguish “social commerce” from “social shopping”, referring to social commerce as collaborative networks of online vendors, and social shopping as collaborative activity of online shoppers.
Invado flagship service – Referdia
Invado finds a way to merge the effectiveness of social commerce while using ever-growing industry of multi-level marketing. For the first time in this industries history, everyone has the ability to get paid $0.50 per person monthly to signup other people to Referdia for free. Have never I seen such a payout to reps marketing a free service. Invado International‘s main focus is usually to help consumers spend less on products & services they currently experience a daily basis. Currently the company posseses an online buying group website, a power product line, and a travel discount manufacturer product line. With their online group buying website, Referdia, they have a savings on various products & services from local businesses. The site is also free for businesses and consumers. Referdia is pioneering commerce networking by supplying consumers with deep discounts and businesses with significant exposure.
Social Commerce Revenue
-Free for people to join with rewards and incentives to mention others
-Free for businesses to participate
-$10 million per day
-Over 400,000 transactions every day
-80 million subscribers globally
-This companies are still projected to cultivate by 300% in the next couple of years
-90% of internet users havenrrrt heard of it yet!
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