The rise of community commerce

Community commerce is “an exchange of goods, services or something of value, between businesses or entities” within a community, may it be a physical community or a virtual community.

There are 5 types of consumer personas based on this:1. Problem solvers: this segment actively plans, try new things, and finds solutions to existing woes. Examples of products and services -everyday consumables, new apps like digital banking, videoconferencing tool, or online marketplace.2. Emotional expressionists: let their emotions reign over t... See more

For community commerce to work, consumers, sellers, and buyers in a community should have the following characteristics:1. Membership: 2. Influence: 3. Integration and fulfillment of needs4. Shared emotional connection

The concept of environmental determinism can explain the rise of community commerce. The pandemic, the subsequent quarantine, and the crisis situation have led to new consumer behaviors. People’s behavior is primarily influenced by the overarching need to cope with the situation. Psychologists define coping as a set of efforts to manage demands tha... See more