As you know, the buying process has changed a lot. People prepare their purchases using a vast array of information channels, including social media, blogs, web sites, peer reviews, etc., prior to actually buying something.
However, those are not the only social changes in the buying and selling process.
In a report by the European research firm, InSites Consulting I read that 4 out of 10 European consumers search for information on brands and products via comparison, expert and user review sites.
The company sees more changes in online shopping but, as I will cover further, in online selling by consumers too. The factors that are influencing these changes include Web 2.0 and social media: social networking, conversing, sharing, tagging, content generation and community participation.