Social commerce is a subset of electronic commerce that involves using social media, online media that supports social interaction, and user contributions to assist in the online buying and selling of products and services.
More succinctly, social commerce is the use of social network(s) in the context of e-commerce transactions.
The phrase social commerce was introduced by Yahoo! in November 2005 to explain a set of online collaborative shopping tools such as shared choose lists, user ratings and other user-generated content-sharing of online product information and guidance.
The idea of social commerce was developed by David Beisel to denote user-generated advertorial content on e-commerce sites, by Steve Rubel to include collaborative e-commerce tools that enable shoppers “to get advice from trusted people, find products and then purchase them”.
The social networking sites that spread this advice happen to be found to improve the customer’s trust in 1 retailer more than an additional.
These days, the region of social commerce continues to be expanded to consist of the selection of social media tools and content material used in the context of e-commerce, especially within the style business.
Types of social commerce consist of customer ratings and critiques, user recommendations and referrals, social buying tools (sharing the action of shopping online), forums and communities, social media optimization, social applications and social marketing.
Technologies like Augmented Reality have also been used with social commerce, allowing shoppers to visualize apparel products on themselves and solicit feedback through social websites 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 on-line shoppers.
One of the fastest growing culutures for Social Commerce is in the Latin and Hispanic culture. Over the past 30 years, the Hispanic population has exhibited tremendous growth in the United States. Hispanics comprise about 11% of the U.S. population, including 3.6 million residing in the Commonwealth of Puerto Rico.
Approximately 31 million individuals are identified as Hispanics. The U.S. Hispanic population is projected to become the largest minority group by the year 2006. Seventy percent of the Hispanic population is concentrated in four states – California, Texas, New York, and Florida.
Mexican is the largest ethnic subdivision of Hispanics in the United States.
The main reason for such a strong growth in commerce in latin cultures is because of their family values.
Traditionally, the Hispanic family is a close-knit group and the most important social unit. The term familia usually goes beyond the nuclear family. The Hispanic “family unit” includes not only parents and children but also extended family. In most Hispanic families, the father is the head of the family, and the mother is responsible for the home.
Individuals within a family have a moral responsibility to aid other members of the family experiencing financial problems, unemployment, poor health conditions, and other life issues.
Family ties are extremely powerful: when someone travels to another town or city to research or for a brief visit (e.g., holiday, business, healthcare factors), staying with relatives or even with buddies of relatives is a common practice. Families often gather together to celebrate holidays, birthdays, baptisms, first communions, graduations, and weddings.
Hispanic households instill in their children the importance of honor, great manners, and respect for authority and also the elderly. Preserving spanish language within the loved ones is really a common practice in most Hispanic houses.
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