Social shopping or ‘crowdsumption’ is what happens when social networking principles meet the vagaries of fashion. It’s what happens when the fickle facebook crowd meets the faddish fashion industry. There is even a new word for this — shopcasting — that describes people that look at what other people are looking at or wearing right now. Narcissism? More like Narcissism 2.0. Sites like Osoyou.com and ThisNext.com connect people with similar interests and tastes and represent what some observers are calling a new ‘referral economy’. There is definitely something interesting going on here, especially sites like Nethaggler that tap into the purchasing power of large groups of individuals. Also interesting are sites that represent a merger or hybrid between media and retail. However, we shouldn’t get too carried away with the wisdom of the masses, because all to often the wisdom of crowds seems to think very short-term and often exaggerates the importance of the new.