The benefits of social commerce for suppliers and customers

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Autor: Skender Mustafi

1. Introduction

There are 1.97 billion internet users, all over the world, which are reaching world internet usage penetration of 28.7% (International Telecommunication Union 2010). Overall internet usage is rapidly increasing. With this rapid growth of internet usage is also growing the trust of people to do business online.  Just in Europe in 2010 comparing with 2009 online sales has increased 19.6% which makes 5.5% of all retail business (Center For Retail Research 2010). Those sales are increasing as a result of increased customers’ trust which has been influenced by the maturity and security improvements of online market.

According to Brand Reputation (2009) doing online business, customers have more confidence in their friends and other customers’ reviews rather than in advertisement or company reviews. Therefore, social commerce is one of the fastest growing models of electronic commerce.

2. Social commerce and social media usage

One of the most accepted definitions about social commerce is from Dr. Paul Marsden (2010), who defines social commerce as a subset of e-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. Therefore, the most important point in this model of e-commerce is the fact that both, the supplier and the customer, should be involved actively in social media networks.

You can download the whole research paper on this link: The benefits of social commerce for suppliers and customers (1219)

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