Connected Consumption: The hidden networks of consumption

Abstract

In this paper, we present the Connected Consumption Network (CCN) that allows a community of consumers to collaboratively sense the market from a mobile device, enabling more informed financial decisions in geo-local context. The mobile application allows one to log one's wish list and itemized list of transactions to form a social network around the list of interests. Individuals can share this data to inform and guide others in a timely, personal and contextual manner when they are shopping for a product or seeking a service. It can also help people connect opportunistically in a local area to make group purchases, to pick up an item for a friend, and to perform reverse auctions. We present the design, architecture and concept prototype. We simulate a social network with three months of existing credit/debit card transaction data in various geographical areas to analyze the mutual information and recommendations that can be shared among networked consumers.