What is it?
Social media is blending with e-commerce to create what’s being called social shopping or shopping 2.0. In the real world, shopping is an event. It is an experience, often shared, and people listen to the recommendations of friends and trusted experts. At least women do.
This fact has not escaped the attention of various r(e)-tail entrepreneurs and we are starting to see the emergence of sites like Crowdstorm, ThisNext, Karboodle, woot, zebo and Stylehive that tap into various social networking principles and allow friends to discuss particular shops, review or vote on specific products or shop as a virtual group in real time. Price comparisons are also easy and, crucially, there is the opportunity to form large groups
to buy quantities of specific products, negotiating a great deal along the way.
Using technology to make the online shopping experience more real (e.g. the use of haptics). In general this means making the experience more fluid, with less emphasis on scrolling through pages of text. Also using social networks to allow people to share shopping experiences, recommend particular products or shop as part of a group.
Data theft, ID theft, online fraud, consumer concerns surrounding digital privacy.