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HI6008: Literature Review on Social Electronic Commerce

   

Added on  2020-03-02

11 Pages3385 Words207 Views
Business DevelopmentData Science and Big Data
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RUNNING HEAD: Literature ReviewLiterature Review Opportunities and Problems of Social Electronic Commerce
HI6008: Literature Review on Social Electronic Commerce_1

Opportunities and Problems of Social Electronic Commerce 1Table of ContentsIntroduction...........................................................................................................................................2Project Scope.........................................................................................................................................2Project Objective...................................................................................................................................2Literature Review..................................................................................................................................2Conclusion.............................................................................................................................................7References.............................................................................................................................................9
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Opportunities and Problems of Social Electronic Commerce 2IntroductionSocial Electronic Commerce can be understood as the mechanism which emerged from theintersection of social networks and ecommerce. It can also be referred as to the subset ofecommerce. Here, the companies use social interactions to allure customers on digitalplatform. On social media, the users can easily interact about the product or servicedescription and whether they like or dislike the products of the organisation (Whiting andDeshpande, 2014). The present social ecommerce sites like Facebook, Twitter, Google+,Instagram, etc. are used by the businesses nowadays to share the information about theproducts and services. The customers are free to provide their reviews which can be negativeor positive about the offerings of the business. This literature Review will include the discussions on the problems and opportunities relatedto social ecommerce which is blooming in the present business environment. Variousopinions of the authors will be discussed referring secondary sources and the differences orsimilarities in their opinions will be highlighted. Project ScopeThe scope of the project is broad due to the discussions on various concepts related to socialecommerce. The concept is nowadays in trend and gaining much advantage due to muchinvolvement of the users on Internet and on social media websites.Project ObjectiveThe main objective of the project is to discuss the problems faced while using socialecommerce and the opportunities it have. The paper investigates the concept of socialecommerce and its potentials in future. It also discusses the challenges it faces.Literature ReviewSocial ecommerce is an important and emerging platform for the shoppers. It is because ofthe increased use of social networking sites like Facebook, LinkedIn, Instagram and more.The social interactions made on these websites develop the intentions of shoppers to buy
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Opportunities and Problems of Social Electronic Commerce 3through these platforms (Liang, et al., 2011). Social media is a group of applications whichallows the users to exchange content with each other. The term social commerce was firstintroduced by Yahoo in the year 2005. . Social ecommerce is an internet based social mediawhich allows people to participate in the marketing and selling of the business offeringsthrough social media channels. So basically social commerce is all about social interactionsand the contributions of the users. The rising popularity of social media platforms has alsoinfluenced the behaviour of the consumers (Paquette, 2013).There are various opportunities for social ecommerce. As per the study conducted byGigaSpaces (2011), 92% of the executives from the leading retailers are focussing on thesocial ecommerce websites and applications. The study conducted showed that 71 per cent ofthe users prefer buying online after liking the brand. It creates opportunities for thebusinesses because it helps in analysing the social behaviour of the consumers and this is howbrand relationships are created and maintained. The statistics shows that 75% of the onlineconsumers in US have their profiles on Facebook and 65% are currently active on that.With the increase in the use of Mobile and ecommerce, social media has been revolutionisedand so the shopping experiences of people. The advertisements and marketing efforts madeon social media are relevant to the users. It helps in boosting sales especially for the onlineretailers who want to sell their products and services through social media platforms. Theretail industry is at boom because of ecommerce and social ecommerce is providing them anopportunity to take it to the next level. This dramatic change has been experienced after theemergence of smartphones, social media platforms and increased use of internet. Socialecommerce is basically used by the retailers to increase the awareness of the population aboutbrand. The social media giants have gained popularity and introduced new functions with anaim to build up an excellent shopping experience (Collin, et al., 2011). Some of the socialecommerce opportunities which could be an opportunity for most of the retailers arediscussed below:FacebookFacebook is the most used social media website which connect people to people and businessto people. In the year 2015, Facebook announced that it is continuously putting efforts tomake it convenient for the shoppers to shop through the website. Facebook announced that itis adding a separate shopping tab on its website so that it can be made convenient for the
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