From a consumer perspective, social media adds convenience to the shopping experience. Before social media and the internet, consumers seeking information on a product often had to speak to a store employee or to someone they knew that actually used the product. That significantly changed with social media sites such as Facebook and Twitter, Reddit and Instagram, which are full of free information that can be accessed at any time by anyone easily and quickly.
A consumer may be able to get information from a company website about a product, but they may still have questions. Social media also impacts consumerism by allowing customers to access direct product information from communicating with stores or other consumers directly.
Interested in a laptop but can't tell from the pictures or specs how many USB ports it has? Ask social media! Complete strangers may answer your questions, or you could tag the company and possibly even hear directly from the manufacturer. Using social media to find out these details can eliminate the need to visit a brick-and-mortar location, thus eliminating time spent in a store as well as commuting.
Images and Visuals
You may have heard the phrase ''A picture is worth a thousand words.'' Being able to see something often provides much more clarity than only hearing about it. This is another prime example of how social media has affected consumerism in today's market. In the past, consumers were only able to see their desired products by visiting a store that carried them, or by briefly seeing the product perfectly curated during a television commercial.
Social media can provide pictures and videos for consumers who want to see a product before purchasing, particularly from other consumers using that product. Access to these images can be a deciding factor on whether or not to buy it. Websites and ads often show the product with a white background and ideal lighting and sound. A food dehydrator may look great until you see a consumer post of it, revealing that it is actually quite small and very loud. With social media, potential consumers can see the scale of the product and its real-life application without having to leave their homes or suffer buyer's remorse.
Giving Consumers a Voice
Social media also gives consumers a much larger voice. In the past, if consumers were unhappy or misled in their purchases, their options to complain were fairly limited. One could write a letter to the executives of the organization or make a phone call, often not to much avail.
Social media has empowered users to provide reviews and feedback, and gain real traction with companies that want to keep their online reputation positive. Consumers can share comments or complaints with millions of other users within seconds. Organizations that ignore these complaints risk not only losing those customers, but also garnering a bad reputation and losing potential customers in a devastating viral plunge.
Such a voice can work to help a product, too. Positive reviews online can bump the popularity of a product as direct testimonies given are often considered more reliable than speaking to store employees or by viewing a company website.
Consumer Retention
Consumer retention, or an organization's ability to keep the customers they already have, is a major part of consumerism. Have you ever made an online purchase? If you have, did you ever try making a second online purchase from the same company or website? If so, you may have noticed that there were several suggestions highlighted that you may be interested in. There may even be rewards for loyal customers, like free shipping or other incentives.
The fusion of social media and the internet has impacted consumerism in this regard; they have given sites the power to help retain current customers by not only detecting but also by tracking consumer habits and customizing their interests from previous purchases.
Lesson Summary
The advent of social media has greatly impacted consumerism, which in this context is the promotion of consumers' interests in purchasing goods and services. Business can reach more of their target consumer base by using social media and ad campaign algorithms. Social media provides consumers immediate access to product specifications, videos, and visual information that can affect their buying decisions.
Social media also gives consumers a way to voice their pleasure or displeasure with products by posting online reviews or using message boards. Finally, social media impacts consumerism through consumer retention, which is an organization's ability to keep the customers that they already have. They can track consumers to offer incentives for loyalty or offer suggested items based on previous purchases.
