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Where consumers band together online to influence, collectively, the price of a good or service, a form of social shopping and reverse pricing.
A website or mobile app that reduces the prices of its products or services for every like or tweet that potential customers generate as a group is using a form of social commerce. Or when consumers get their friends to buy a sufficient number of ecommerce coupons, they are engaged in social commerce. In effect, consumers are banding together online to influence the price at which they are willing to buy and companies are paying their customers to do their marketing for them.
Where consumers band together online to influence, collectively, the price of a good or service, a form of social shopping.
A website or mobile app that, reduces its price for every like or tweet that potential customers generate as a group or where customers can get enough of their friends to buy ecommerce coupons, are engaged in forms of social commerce. In effect, consumers are banding together online to influence the price at which they are willing to buy and companies are paying their customers to do some marketing for them.