Social networking helps you connect with people across the globe with different cultures, socio economic status, rich and the famous, frugal and the miserly, wise and the wiser. Social networking gives you the opportunity to learn about the distinct lifestyle and varied tastes of people including their eating, spending and social habits. For example, you could just be sitting within the confines of your four walls but learning the delicacy of Italian cuisines from your friend in Europe through Facebook, Myspace or Twitter. As such, social networking plays a pivotal role in how people perceive the world now.
Traditionally, jewelry shopping was limited to stores that either your friends or family had conducted business with previously or your best bet would be to walk into a jewelry store with a bunch of references that could be completely biased. Furthermore, jewelers like any businessmen would love to increase their profit margins by cutting down their cost i.e., use low carat diamonds, cheap mixture, etc. As such, you might walk out of the store really ecstatic thinking that you got the bargain of your life, only to realize that you might have dropped $10,000 on diamond rings like oval wedding rings or bridal ring with heart which are only worth half of it. Also, it is possible that the jeweler might have sold the same design to thousands of people and thus not making you special anymore. However, despite these limitations there is very little that an individual could do.
Social networking on the other hand has helped change this completely. Not only, can you get references from a larger and a more representative population but you also have the opportunity to find out stores with the best prices. Social networking helps increase the competitive advantage that benefits the buyers. This helps to give the buyer a wider selection of sellers and jewelry to buy from. Furthermore, as people communicate with other people from distinct socio- economic backgrounds, they realize that not everyone can and needs to spend a fortune on a diamond ring that could go out of fashion anytime. As such, social networking could help an individual think wisely and make him realize that being subtle and tasteful at times is better than being flashy and gaudy. As the old saying would go that ‘all that glitters is not gold’. As such, instead of falling prey to such mistakes, an individual could buy a cheaper diamond ring that not only helps to save money but it looks as good as the real ones do. ‘Moissanite’ is a kind of jewel that looks like a diamond, feels like a diamond, but is one fourth the price of a diamond. Social networking also helps you connect with celebrities through twitter that advertise these cheaper alternatives or cheap diamond rings to accessorize. Most people regard the celebrities as their role model and thus are ready to blindly follow their endorsements.
Social networking seems to have touched everyone’s life in some form or the other and in this instance it has benefited people in saving money.
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