Social Media and Purchasing Power of Users

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"Buying power Twitter"Purchasing Power is a factor which is often ignored by many socialmedia admirers and users . But When you try promoting your products or services through twitter or any other Social Media . Does it makes sense if the followers are targeted and they are not willing to spend on your products even though they are interested in that?

Economics says “Demand means desire backed by willingness and ability to Pay”. So Here lies the importance of purchasing power. If you sell online products and services, It would be  more salable in Developed world rather than developing countries. Countries like USA,UK,Australia or Germany would better go for luxuries through online media. Services like tour packages, Cruises are better sold in these kind of economies. Some small items which are complimentary with another premium product would also have the same scenario as well. For example, iPhone and Android apps are really cheap and some of them are free to download. But The demand for these apps are complimentary with the sale of iphones or Android based cell phones. So What happens if someone tries to sell it in a place where it is not that popular. So it is an important factor for making buying decisions online. Many developing economies may not depend on Internet for buying commodities as well. So it would be very much advisable for you to go for countries where online purchase really takes place. It depends on what kind of product or service you sell. If your product or service is localized and only available for local market and your belongs to that place then this factor would not be of much significance.

 

 

 

 

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