Emergence of the Social Consumer - The Impact of Personalisation, Localization and Social Collaboration on Consumerism

Tatjana Petkovska Mirchevska () and Sonja Markova ()
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Tatjana Petkovska Mirchevska: Institute of Economics, Macedonia
Sonja Markova: University American College Skopje, Macedonia

Annals of the University of Petrosani, Economics, 2011, vol. 11, issue 3, 229-236

Abstract: Social media affects human behavior and culture through personalization, localization, advocacy, social collaboration. New form of virtual social interaction has emerged: Social Consumerism. Consumer brands are flocking to social networks. Traditional consumer purchase funnel no longer reflects the consumer purchase behavior. A new more sophisticated and more complicated than traditional funnel has emerged. This new approach, called the consumer decision journey, places greater emphasis on loyalty and advocacy and better reflects the dynamics of today’s market influenced by social media. As the online world continues to evolve understanding how to merge e-commerce with social media is critical for retail success. “Social commerce” integrates new media, via user generated content platforms and social networking features, directly onto commerce sites. By building vibrant communities that address the passion of retailer’s core audience, and spreading passion to larger social web, retailers will attract loyal and engaged customers, and will achieve better business results.

Keywords: social media; social consumerism; consumer decision journey (search for similar items in EconPapers)
JEL-codes: M30 (search for similar items in EconPapers)
Date: 2011
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