MaRS Library Merchants of Social
Shopping has always been a social activity, whether it’s shopping with friends for fun, asking colleagues to recommend a service provider or telling your family about a big sale. The only difference today is that these collaborative shopping experiences are being seamlessly shifted from the physical world into the digital world. In this report we examine the rise of this trend, known as social commerce.
Social commerce is the merger of what used to be two very distinct online activities: e-commerce, which has grown to be a $7 trillion industry worldwide, and social networking, which now engages close to 20% of the global population. Through social commerce, consumers can now socialize where they shop, or shop where they socialize.