Published August 22, 2023
| Version v1
Journal article
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Navigating the Digital Marketplace: The Dynamic Role of Social Media in Shaping Economic Trends
- 1. Associate Professor
- 2. Nukus branch of the Tashkent University of Information Technologies named after Muhammad al-Khorezmi, Republic of Uzbekistan
Description
Witness the rise of social media as a powerhouse shaping economic trends. With 4.2 billion users worldwide, these platforms have evolved into change agents, steering consumer behavior, reshaping markets, and predicting economic shifts. Explore their journey from personal networks to economic giants, democratizing advertising and enabling real-time adaptation. Uncover the sway of influencer culture on consumers and the potential of social media for economic analysis. Ethical concerns arise, but the future promises "social commerce" integrating shopping seamlessly and blockchain-driven transactions. As economies digitize, social media emerges as an indisputable force, revolutionizing global markets
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References
- 1. "The Age of Influence: The Power of Influencers to Elevate Your Brand" by Neal Schaffer
- 2. "Contagious: How to Build Word of Mouth in the Digital Age" by Jonah Berger
- 3. "Social Media Marketing Workbook: How to Use Social Media for Business" by Jason McDonald
- 4. "The Social Media Bible: Tactics, Tools, and Strategies for Business Success" by Lon Safko
- 5. How digital transformation is driving economic change | Brookings
- 6. The Economic Effects of Social Networks | NBER