Problems and Opportunities of Social E-Commerce- Literature Review
In this emerging scene of advancement in technical expertise, the companies seems adamant to administer an integral branch of social commerce since it contains the ability to transform the immediate intents of the companies into action. On that note, this current study suite is supposed to admit the potential problems and opportunities that the social commerce sites are expected to pose. On that course, this study have explored the concept of social commerce and consolidates the apprehension that social commerce is an integral yet indispensable unit of electronic commerce.
Moreover, this study has expanded its concern to distinguish the several aspects and sorts of social commerce both in terms of the spectrum of operation and also in terms of encapsulating diverse technological expertise. This facilitates the pursuit of potential problems and embedded opportunities in the way of utilizing social commercial portals. Apart from that, it has systematically addressed the considerable gap of literature that consolidates the foundation of subsequent research proposal. This study also aims to address the overall spectrum of distribution model since it owns the liability to revolutionize the prevalent distribution model. Furthermore, it caters the moral obligation to propose some suggestions in order to device a well-structured consultation about how to acquire a stable growth in an established market.
Concept of Social E-Commerce
Social e-commerce can be defined as an indispensable subset of electronic commerce that usually incorporates virtual analogue of online and social media in order to improve the interface of information and services exchange. Apart from that, it usually focuses to consolidate the social encounters while assisting the users to buy and sell product and services in a seamless fashion. The definition can be further elaborated as a virtual interface that is dedicated to cater purpose of online trading. Additionally, the interface can be further exploited to enhance the promotional purposes of branding. More precisely, social commerce involves social networks extensively to facilitate the celestial transactions of goods and other services.
The essence of the term expresses a moral obligation of providing relevant products and services within a reasonable price and duration. Social commerce enjoys the presence of collaborative shopping means such as peer reviews, rating charts and cumulative pick lists that shapes the choices of the respective user. Furthermore, this interfaces usually contain a well-constructed user-generated content that appear dedicated to provide relevant information of the product along with prudent suggestions. Moreover, the peer reviews usually advocates the faculty of opting where the interface enables the user to insert respective requirements in order to filter the products or services accordingly and consequently get the desired product. One of the major contribution of online goods and services transaction is that it has revolutionized the prevalent distribution model simply by enabling digital distribution. Albeit, in cases of cash on delivery the product is presented manually, the user-directed interface enables the user with prudent monitoring tools by virtue of which the user will have the access to the navigational details of the requisite products.
At the advent of emerging technological expertise, the notion of social commerce comes with an intent to exhibit simulating advertorial content that are generated by the users itself in order to guide the faculty of choosing and placing the orders. Some of the developers later introduced the dimension of collaborative e-commerce shopping tools in order to endow the users with comprehensive advices and suggestions from reliable and insightful individual peers. This comprehensive reviews act like a guideline for the potential users since it advocates their impulse to find and occupy the product they are looking for. The successive peer reviews can be designated as trustworthy since most of the reliability about online exchange of goods and services comes from the proportion of authenticity of the individual opinion.
Types of Social E-Commerce services
The portal of social e-commerce involves a diverse oeuvre of services with a moral dedication to provide them to the users within reasonable price and duration. Moreover, these portals seems adamant to revolutionize the prevalent distributional infrastructure of goods and informations by simply providing them the best within the affordability of the user. The online transactions of goods and products usually employ the digital distribution system and their concern shares a diverse spectrum of goods and service such as Streaming media, software and ebooks. The operational domain of the social commerce sites usually pertain and diverse set of products and goods and can be broadly categorized as e-travel and e-tailing. The e-travel sections usually committed to provide consistent and punctual ticket booking facilities in order to facilitate the experience of much proclaimed safe and happy journey. This can be further categorized and can be included into the mobile commerce section since most of the payments regarding travel oriented booking is done by a mobile and other portable and handy devices. The other segment has derived its catchy acronym from the notion of electronic retail where this celestial domain has ensured their access in a diverse section of the virtual market. Most of the financial transactions under the banking liabilities can be included in the retail section. Apart from that, it also included the ordering and delivery that have gained prominence in this competitive and time-intensive ambience.
Apart from this type of distinction, the broader term of social commerce can be characterized in terms of the capability of encapsulating a diverse variety of technological expertise. This categories can be named as Offsite and Onsite social commerce respectively.
Onsite- Onsite social commerce usually indicates the retailers who are prone to involve in social sharing and several other social activities on the corresponding website. Some of the reputed social sites enable the potential customers to share the realization of the purchase in a respective website. Furthermore, some of the reputed brands allow their potential peers to participate in a poll review in order to get access of the right product (Gray, 2013).. There exists several other comprehensive portals that immediately portray other purchases from the identical sites and enable the peers to compare their current purchase. It includes the peer reviews and individual opinions as part of the principles of the social commerce. This simultaneously enhance the quotient of public engagement and have been successfully accomplished and improved the underlying encounter. Furthermore, this enables the interface to convert the successive reviews and facilitate the notion of word-of-mouth publicity which consolidates the campaign of branding (See-To & Ho, 2014).
Offsite- This includes the activities that are prone to occur outside the virtual domain of the retailer. These bears the possibilities to include the posts that are usually available in the storefronts in the popular networking sites. However, most of the reputed brands seems to forlorn this approach. A recent study suggests that a meagre moiety of the entire population in Facebook have never made a purchase through the social network. This disappointing performance has been accredited to the deficiency of the intent to purchase when they peers and potential users are already occupied in the social networking portals (Bello-Orgaz et al. 2013).
Problems and Opportunities of Social E-Commerce- Literature Review,Advantages of Social commerce, management, it management
Switching to social commerce might herald several companies towards the accomplishment of their business. In order to respond to this emerging trend most of the companies have already came up with the online unit of their competencies. Most of the social commerce portals aims to address the following demands of the companies
- It facilitates the encounter of the customers with the leading brands in accordance with the collective demeanors of the potential customers (Yadav et al. 2013).
- It appear dedicated to provide a substantial incentive for the potential users in order to ensure their return to the respective website.
- It endows the potential users with a virtual platform laden with informations and comprehensive reviews in order to enable them to talk and simultaneously promote the respective brand (Mayo, 2014).
- It comes with an introspective interface that usually consists of relevant information and prudent advices and suggestions in order to drive the faculty of opting of the users.
- It also enables the potential users with the facility to research and compare the products that directly caters the impulse of the users to get the desired products at a reasonable and affordable expense.
- It also endows the potential users with an assurance to stay in an advantage and also justify the purchase from that specific site.
Problems and Opportunities
The potential problems that can be addressed in this regard can be started with the primeval problem of cyber security. Since it incorporates several online platforms and the financial sectors pursue their most of the transactions employing the digital interface, it can be a potential threat where their confidential information might got disclosed. If the problems needs to be characterized in the domain of onset market, the potential problem that first came into existence is the problem of crowded market (Hamari, Sjöklint & Ukkonen, 2016). This suggests that it is imperative to enter the market in the proper time. The timing of market entrycan be cited as a potential driver of the subsequent risks that are associated with the social commerce. On that note, the entry barriers need to be identified through the span graph of a conventional social commerce venture. As per the span graph the entire lifetime of a social commerce venture can be divided into four governing sections. In the startup phase, the early players desired to construct an ideal interface in order to device the required ecosystem for the respective venture. In the next section, the venture began to acquire a little amount of investment (Brynjolfsson & McAfee ,2014).
Moreover, the scope allowed the players to thrive towards an ideal ecosystem since this phase of the venture allows the player to introduce several experimental aspects in order to gain a pedantic awareness of the working principle of the venture. In the phase of growth, the big investor started to invest a substantial capital in the emerging scenario of the venture. In this course of the venture, the potential players associated with this venture is supposed to enjoy a great ecosystem since it has been able to prepare it. Moreover, the respective venture have gained a revolutionary status in terms of goods and services exchange (Huang & Benyoucef, 2013). The next phase of the venture usually enjoys a sustained growth with a substantial capital and investment while having a structured ecosystem. On that note, it can also not be evaded that the competition have grown equally high.
Gap of Literature
Most of the research scholars seem complacent with having the simulation of the potential drawbacks of the potential interface. Moreover, they seem considerably apathetic regarding the loopholes that are embedded in this domain of virtual exchange. On that note, this study drive its concern to pose a systematic analogy of the authentic underlying problems regarding this issue of social commerce. Moreover, it has find its obligation to systematically address the subsequent phases of the prevalent venture in order to transmit a prudent and introspective understanding about the potential origins of risks.
In the light of the above study it can be concluded that the notion of social commerce is very important in this global competitive volatile market ambience in order to acquire a relative competitive advantage. On that course, this study have been able expend the notion of social commerce and proliferates the apprehension that social commerce is an indispensable unit of electronic commerce. Moreover, this study has extended its concern to distinguish the several aspects and sorts of social commerce both in terms of the oeuvre of operation and also in terms of diverse technological skills. This facilitates the pursuit of potential problems and embedded opportunities that is prone to get in the way of utilizing social commercial portals. Apart from that, it has systematically identified the considerable gap of literature that consolidates the foundation of subsequent research proposal. This study also aims to address the overall spectrum of distribution model since it owns the liability to revolutionize the prevalent distribution model. Furthermore, it caters the moral obligation to propose some suggestions in order to device a well-structured consultation about how to acquire a stable growth in an established market. Furthermore, the associated study have been able to address the compelling issues and the relevant drawbacks about the social commerce.