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Michael Lazerow of Buddy Media delivers an insightful social commerce keynote, highlighting current patterns in the realm of online shopping.
He defines social commerce as a utilitarian hunt for staples and for basic human needs such as food, sleep, sex and health. It is characterized by convenience, price (everything is cheaper on the Internet) and by selection (anything and everything can be purchased online). It is a “frictionless” concept that connects people from all over the world. The reason why Google dominates online media and shopping is because it is the only way for brands to move their products online.
This social commerce keynote emphasizes the commerce component of the concept because he believes that social networks like Facebook don’t belong in the e-commerce realm. These networks provide other human needs such as interaction and emotion.