Trends and the Tipping Point

Hello All!

I would like to start by talking about the trend I found most interesting from the recap on Digital Media for 2010. For me, the most interesting and most surprising trend was the massive increase in usage of local/group-buying and flash sale sites. I myself have experience using Group-On and RueLaLa, but I had no idea that sites like these had become so popular throughout the country. The numbers are outstanding. Group-On is up 712% since 2009, and LivingSocial in a close second up 438%. That's crazy growth! I understand why these website are so popular because let's face it, they have great deals. I just had no idea about the growth that they had experience in just one year.

My own personal experience with these sites sort of connects to the second part of this blog, the Tipping Point. I find that every time I use Group-On or RueLaLa, the more often I find myself checking the sites for deals. When I get a good deal, I get excited to find another one. It is like an epidemic, as discussed by Malcom in The Tipping Point. The smallest change, just signing up on the websites, started my infatuation with finding great deals, especially fashion deals at RueLaLa. I sometimes have to physical stay off the computer for a day if I know that one of my favortie designers is featured. If not, my chances of buying something I don't need, just because it's a great deal, are extremely high.

That is one reason why I think these sites are so successful. They capitalized on the Tipping Point. The tipping point in this situation is the epidemic that has spread in the last couple years amongst consumers - they expect deals. Not only do consumers expect deals, but they will purchase pretty much anything if it is a great deal they can't find anywhere else. This is why Americans overspend. They can't help it, they want to feel like what they are spending their money on is a great deal. This is the type of epidemic that Malcolm is talking about.

As far as applying the tipping point to social media in general, companies have to realize that any small idea can be the next big thing. The smallest change can blow up very quickly, especially through the help of social media and how fast it travels. If companies can focus on this concept, the ideas that they want spread through social media channels can spread much more rapidly and with much greater success.

Take care now, bye bye then!

Rache