The Recommendation Economy
The Recommendation Economy
With Sydney Gore, Alexia Tamer, Shannon Maldonado and Emma Chozick
By HURS Team
Cultural relevance is the currency of our time. And social media has provided us with the perfect trading floor. What started out as a window into the world of the people and brands we value, has increasingly become a place for product endorsements and silent advertising. Whether it’s a recently launched mascara or a newly opened luxury hotel, social media has become an echochamber of ‘have-to-buys’ and ‘must-visits’ and it’s becoming increasingly difficult to identify authentic recommendations from the ones that are paid for. However, this phenomenon isn’t new. Where traditional media used to be the authority and filter, social media has shifted the power from magazines and publishers to individuals.
We all endorse products and places through our social accounts, making everyone an influencer – intentionally or not. While some have made a career out of it, others use their social profiles to showcase how in-the-know they are through a carefully curated edit of products and places. These cultural tastemakers are slowly becoming the arbiters of taste, building a cult following of those who value genuine recommendations. But what’s the next evolution of the recommendation, and where do we get the best ones from?
We asked four industry insiders what makes a good recommendation, if there’s a difference between influencers and tastemakers and the business behind recommendations.