How Social Media Transforms the Global Market: The Case of Social Commerce

Abstract

The purpose of this article is to figure out how Social Networks change the global trade’s trends and e commerce. Using case-study method, business models analysis and Business Model Canvas construction, it was found out how exactly s-commerce companies, such as Pinduoduo, Facebook* and TikTok, affect the ways of running a business and set the trends for it today. The main sources of information were annual and quarterly reports of the selected companies in the open access via official websites, as well as interviews and a number of scientific publications.