Wikinomics example


Wikinomics is a term that represents how the internet has changed and evolved the economy and how companies sell and interact with their audience.
Online clothing brands such as Pretty Little Thing and Boohoo, are an example of the change that wikinomics has lead in the fashion business, these companies know how to use Web 2.0 to advertise their products to the fullest degree and this allows them to have an edge over hughstreet brands as their target audience who are digital natives spend a large proportion of their day on social media where they are constantly seeing encoded posts that influence them to look at the products being sold by these online retailers.

We see that these online retailers are very globalised and sell to a huge vary of countries this once again allowing them to gain an edge over highstreet retailers that find it hard to globalise due to not having a huge web presence and so therefore they're not known globally.
The online shopping retailers can gain this edge of being known globally as a company due to culture imperialism, the idea of these certain companies such as PLT and BooHoo are very western and are then enforced on second and third world countries on social media platforms as huge celebrities such as Kylie and Kendall Jenner who tag brands such as PLT on their Instagram posts, these celebrities reinforcing the ideal self and this culture is very strongly imposed on other countries, this being a more negative effect of globalisation as it results in cultures being lost.

Another platform such as YouTube demonstrates the prosumers use of platforms, platforms such as YouTube grow from user generated content being added to the platform. This allows prosumers to be created, this being when talented people upload content which then gains a huge following, e.g Justin Bieber was discovered on the platform YouTube and this allowed him to produce and consume media making him a prosumer.
Its key that platforms such as Ebay, YouTube and many social media platforms allow user generated content as this creates the basis of the platform.

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