Scott Brave, CTO and Co-founder, Baynote thinks so.
Not much has changed in the consumer e-commerce experience in the past ten years to mirror a real world experience, until now. Mobile apps, ubiquitous technology platforms, Facebook, Pinterest, etc. have all helped to demystified technology for the lay person.
I also agree social is not individualized personalization to understand or serve up a product recommendation. Currently I see the focus on the low hanging fruit like conversion rates. Yes these all improve ROI, but not the consumer experience in a way that reduces shopping cart abandonment.
Personalization needs to be fun, interactive, serious, smart to use, for the consumer!