First there was ecommerce, a term developed in the early '80s to abbreviate "electronic commerce," or sales made possible through electronic funds transfer (and later, the Internet). Since then, marketers have gleefully affixed various letters to the word "commerce" to describe sales (or the potential for sales) made through different platforms: m-commerce for mobile, f-commerce for Facebook and p-commerce, which I've discovered recently, is an abbreviation for both "participatory commerce" or "Pinterest commerce."
What Is Participatory Commerce?
A few quick Google searches reveal that the phrase participatory commerce was first coined in 2005 by Mark Pincus, founder and CEO of gaming juggernaut Zynga. It was popularized (to a degree) five years later, when entrepreneurs Daniel Gulati and Vivian Weng used it to describe the model for their new online retailing startup, FashionStake (acquired by Fab.com in January 2012).
When Pinterest's popularity began to skyrocket in mid-2011, retailers were quick to recognize its potential as a sales driver, giving rise to the phrase "Pinterest commerce," which, like participatory commerce, has sometimes been abbreviated to "p-commerce."
No. Not only will you sound like a tool, there's a good chance no one will know what you're talking about.
Social commerce: E-commerce that involves social media, either in driving a customer towards purchase, or involving a customer socially during a transaction (the latter of which is also referred to as participatory commerce).