Consumer spending accounts for a large fraction of the US economic activity. Increasingly, consumer activity is moving to the web, where digital traces of shopping and purchases provide valuable data about consumer behavior. We analyze these data extracted from emails and combine them with demographic information to characterize, model, and predict consumer behavior. Breaking down purchasing by age and gender, we find that the amount of money spent on online purchases grows sharply with age, peaking in late 30s. Men are more frequent online purchasers and spend more money when compared to women. Linking online shopping to income, we find that shoppers from more affluent areas purchase more expensive items and buy them more frequently, resulting in significantly more money spent on online purchases. We also look at dynamics of purchasing behavior and observe daily and weekly cycles in purchasing behavior, similarly to other online activities. More specifically, we observe temporal patterns in purchasing behavior suggesting shoppers have finite budgets: the more expensive an item, the longer the shopper waits since the last purchase to buy it. We also observe that shoppers who email each other purchase more similar items than socially unconnected shoppers, and this effect is particularly evident among women. Finally, we build a model to predict when shoppers will make a purchase and how much will spend on it. We find that temporal features improve prediction accuracy over competitive baselines. A better understanding of consumer behavior can help improve marketing efforts and make online shopping more pleasant and efficient.
is also a crucial factor that steers customer behavior during online shopping. Often, social media is used to communicate purchase intents, which can be automatically detected with text analysis @cite_4 . Also, social ties allow for the propagation of information about effective shopping practices, such as finding the most convenient store to buy from @cite_45 or recommending what to buy next @cite_35 . Survey-based studies have found that shopping recommendations can increase the willingness of buying among women rather than men @cite_2 .
@cite_35 @cite_45 @cite_4 @cite_2
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Social media allow for an unprecedented amount of interaction between people online. A fundamental aspect of human social behavior, however, is the tendency of people to associate themselves with like-minded individuals, forming homogeneous social circles both online and offline. In this work, we apply a new model that allows us to distinguish between social ties of varying strength, and to observe evidence of homophily with regards to politics, music, health, residential sector & year in college, within the online and offline social network of 74 college students. We present a multiplex network approach to social tie strength, here applied to mobile communication data - calls, text messages, and co-location, allowing us to dimensionally identify relationships by considering the number of communication channels utilized between students. We find that strong social ties are characterized by maximal use of communication channels, while weak ties by minimal use. We are able to identify 75 of close friendships, 90 of weaker ties, and 90 of Facebook friendships as compared to reported ground truth. We then show that stronger ties exhibit greater profile similarity than weaker ones. Apart from high homogeneity in social circles with respect to political and health aspects, we observe strong homophily driven by music, residential sector and year in college. Despite Facebook friendship being highly dependent on residence and year, exposure to less homogeneous content can be found in the online rather than the offline social circles of students, most notably in political and music aspects. While social interactions are critical to understanding consumer behavior, the relationship between social and commerce networks has not been explored on a large scale. We analyze Taobao, a Chinese consumer marketplace that is the world's largest e-commerce website. What sets Taobao apart from its competitors is its integrated instant messaging tool, which buyers can use to ask sellers about products or ask other buyers for advice. In our study, we focus on how an individual's commercial transactions are embedded in their social graphs. By studying triads and the directed closure process, we quantify the presence of information passing and gain insights into when different types of links form in the network. Using seller ratings and review information, we then quantify a price of trust. How much will a consumer pay for transaction with a trusted seller? We conclude by modeling this consumer choice problem: if a buyer wishes to purchase a particular product, how does (s)he decide which store to purchase it from? By analyzing the performance of various feature sets in an information retrieval setting, we demonstrate how the social graph factors into understanding consumer behavior. In recent years, new studies concentrating on analyzing user personality and finding credible content in social media have become quite popular. Most such work augments features from textual content with features representing the user's social ties and the tie strength. Social ties are crucial in understanding the network the people are a part of. However, textual content is extremely useful in understanding topics discussed and the personality of the individual. We bring a new dimension to this type of analysis with methods to compute the type of ties individuals have and the strength of the ties in each dimension. We present a new genre of behavioral features that are able to capture the "function" of a specific relationship without the help of textual features. Our novel features are based on the statistical properties of communication patterns between individuals such as reciprocity, assortativity, attention and latency. We introduce a new methodology for determining how such features can be compared to textual features, and show, using Twitter data, that our features can be used to capture contextual information present in textual features very accurately. Conversely, we also demonstrate how textual features can be used to determine social attributes related to an individual. Social shopping communities (SSCs) evolve from a linkage of social networking and online shopping. Apart from direct shopping features in shopbots (e.g., search fields), SSCs additionally offer user-generated social shopping features. These include recommendation lists, ratings, styles (i.e., assortments arranged by users), tags, and user profiles. Purchases can be made by following a link to a participating online shop ("click-out"). SSCs are experiencing high growth rates in consumer popularity (e.g., Polyvore attracts more than 6 million unique visitors per month). Thus, this business model has received considerable venture capital in recent years. By analyzing clickstream data, we investigate which factors, especially social shopping features, are significant for predicting purchasing behavior within SSCs. Our logit model includes about 2.73 million visiting sessions and shows that social shopping features exert a significant impact, both positive and negative. Tags and high ratings have a positive impact on a click-out. In contrast, the more lists and styles used, the less likely the user is to make a click-out. Yet, lists and styles seem to enhance site stickiness and browsing. Moreover, the more direct shopping features that are used, the less likely the user is to conduct a click-out. Increasing transaction costs and information overload could be potential reasons. We also found that community members are more likely to make a click-out than ordinary users. This implies that community members are more profitable.