There’s no question that the proliferation of social media has helped decide what we buy, why we buy it and even how much we spend on the individual product. According to a recent survey, 80 percent of those between the ages of 18-44 check their smartphones within fifteen minutes of waking up in the morning. And what are they checking?
They’re checking their Facebook, Twitter and Pinterest accounts to see what their friends have posted. Social media has impacted how we interact with our friends and what influence we have over them. This includes the items we buy, so let’s take a look at how social media can impact what you buy.
- What do you buy? When we go out shopping with our friends, we’ll certainly ask them their opinion on what they think of an item. Pinterest takes care of this for you. When you pin something on your pin board, you’re showing your network of friends what you like. At the same time, you can go on their pin boards and see what they’ve pinned. Online retailers do this to give their products easy recognition and exposure. By pinning what you like and seeing what others like, you can use these pins to figure out what you want to buy.
- Where do you buy it? When it comes to shopping, smartphones have made a huge impact on where you buy your goods or where you eat. Before, if you were shopping in the city or a place where you’re unfamiliar, you would just have to walk or drive around until you find the first thing you see. Sites like Yelp enable you to search within your area to see what’s out there. From there, you can search reviews and get recommendations to optimize your shopping or dining experience.
- How much do you spend? Our economy is dictated by supply and demand. If a large amount of people demand an item at a certain price, that item will be charged at that price, the customer is always right. Group deal sites help users by offering prices at a discount price. They will offer items and you have the option of lowering the price. Once you do, you can share the item with others in your social media network. If enough people lower the price and activate the price to order it, you will get the item at that price. It’s simple economics and a great way to team up with your friends to buy items at prices you want.
Mike is a social media aficionado and is always writing and exploring the latest trends in social media.