Social Commerce is defined as a subset of electronic commerce that involves using social media, online media that supports social interaction and user contributions, to assist in the online buying and selling of products and services (Source: en.wikipedia.org).
It taps into the online community and turns product purchasing into conversations. 90% of all purchases are subject to social influences (Source: digitalbuzzblog.com). Mark Zuckerberg is quoted saying “If I had to guess, social commerce is the next area to really blow up.”
I came across the following infographic that does a good job highlighting some social commerce tools and statistics. Digital Tools to Boost Your Brand in 2012 (Source: cheapsally.com):