In the current society, more and more service providers invest in on-line platforms and change their business strategies in order to attract and maintain customers. Social media plays the role of the intermediary between providers and consumers, and strengthens the relationship between them. The fast access to any service and information provided by social networks, result market and competition growth, which leads to quality improvement, lower prices and economy changes. The aim of this paper is to acknowledge the present and future opportunities and challenges, brought up by the relationship between the quality of services and social media, regarding the development of European businesses in the whole service sector, and how the contemporary economy is affected by them. The methodological section of this paper will contain theoretical models concerning quality, social media influence, consumers, relationships sustainability and service providers. This paper is useful for all parties involved in the online business environment, in order to acknowledge in what way and to what extent the European on-line platforms are evaluated, in terms of transparency and credibility. As well as to find out what are the business strategies regarding the quality improvement of services and to what extent they are being implemented.