Published on June 14th, 2018 | by Sumit Bhowal0
Patrick Mackaronis, Brabble Founder: “Social a Better Way to Sell”
In just a few short years, online shopping has become a way of life. Statistics show that nearly 50 percent of consumers around the world rely on ecommerce for their goods.
Of those, the majority are using their smartphones to shop. Case in point: Mobile commerce was worth more than $700 billion in 2017. That represents a 300 percent growth over the past four years.
In addition, there are 3.196 billion social media users around the world. Those who are connecting via social platforms have been increasing 13 percent year over year, while mobile phone users only increased four percent year over year.
Thus, companies like Brabble, a New York tech startup, have seen success in combining all the things shoppers love – social, smartphones and shopping. This has experts predicting that Peer-to-Peer (P2P) e-commerce is the way of the future.
“It’s an exciting time for social, P2P selling and we’re happy to be on the forefront of it all,” Brabble’s Patrick Mackaronis explained. Patrick Mackaronis also mentions that, “Integrating e-commerce with social media helps people, companies, and brands sell their products, while maximizing their sales reach and sales power.”
With P2P, buyers and sellers have more control over the process and can bypass the middleman, which means better deals and more income — a win-win for all parties. Along with an increase in transparency and information, P2P is also a convenient way to shop, with a one-stop online platform that can be accessed 24-7.
Image source: Orcawise
When it comes to shopping online, most consumers feel fairly secure, particularly when it comes to P2P marketplaces. However, there are still some precautions that users should employ to protect themselves.
Tips to Safe Social Transactions
Because the number of online financial transactions is expected to climb to over 3 billion by 2021, a little precaution is a good idea.
Here are a few ways to enjoy the P2P marketplace in a secure way:
- know the insurance policy of the platform you are trading on. What happens if you pay for an item but the seller doesn’t come through?
- use a credit card as there are more security features covering transactions made by your Visa or Mastercard.
- if you are using your phone, don’t conduct the transaction on public wi-fi.
- have a strong password and use 2-factor authentication to protect your accounts.
- monitor your financial statements.
- don’t send financial details in an email.
When it comes to buying and selling, scams and frauds are nothing new. The best way to protect yourself is to be informed and educated about the platform.