New Media Tech Part 3: WANELO - A Retail Social Hub

WANELO is short for WAnt NEed LOve and is a social platform designed to convert interest passion and community into retail sales Founded by Deena Varshavskaya in 2010 Wanelo is the next major social platform where consumers are flocking and businesses are following All marketers and retailers targeting women who purchase fashion home goods accessories jewelry and much more need to follow and activate Wanelo Agencies engaged in social media will need to add Wanelo executives to their relationships Media companies that target women39s passions and interests are already incorporating Wanelo into editorial content and marketing tieinsWanelo promotes that quotyou can buy almost everything you see on Wanelo and everything is posted by usersquot While Wanelo describes itself as quota community for all of the world39s shoppingquot it also promotes that its quotunfettered by advertisingquot Once again marketers and agencies need to reinvent their online initiatives to conform to a completely new marketplace or fear eventual loss in market share Wanelo investors include Floodgate Capital Forerunner Ventures First Round Capital and Naval Ravikant of AngelListAt Wanelo users create favorite product posts and share them on Wanelo linking each product to the retail page where the product may be purchased Stores are then able to create a store page and claim any of their products they see posted by users who are posting their products Stores are verified by Wanelo administrators to make sure they are validly claiming their products and leading users to the correct place The more than 200000 stores range from brickandmortar retail businesses to Etsy shopsUsers may post their favorite products find products for their wish list and share stories about product collections Each unique product is posted by a specific user and continues to direct viewers to that person39s page even when shared by others This means that users originally posting unique products will gain more followersStories created by users tie a certain group of posted products together This is a way for users or stores to advertise products much like a retail store would display them in a collection Items from the same store or multiple stores are brought together into a themed inspiration board Each item shared leads back to its original retail source so that any user may purchase the products they love Unlike Pinterest the goal of Wanelo is directed toward a desire for retail finds rather than DIY projectsWanelo appeals to a consumer39s desire to be inspired To date over 35 million collections of items have been shared by users to their followers It39s easy to believe Wanelo is emerging as the next breakout social platform based on its audience profile 90 percent of users are female and 60 percent of them are 24 and underWanelo is capable of engaging a large target audience of consumers prepared to buy a product This means unlike Instagram Pinterest or other social media sites focused on the social part Wanelo is focused on the business part providing the easy out a direct link to purchase the product often connecting users with businesses they have not previously shopped at Wanelo sends all product referrals through VigLink so it can get a cut of sales quotOn other platforms buying products is not the intent so users may feel exploitedquot Varshavskaya commented to All Things D quotOn our site we get overt complaints when people post blog links instead of direct links to productsquotReducing ClutterWanelo goes one extra step towards retail structure by keeping redundant posts from occurring To post a product users first enter the page where the product is sold If this coincides with a previous post then Wanelo notifies the user and allows them to repost the product they are adding rather than creating a unique post This keeps products down to singular posts for each store and avoids the clutter of multiple replicated posts like those found on PinterestWanelo is focused on unique items and a vast selection of choices With the widespread availability of products and stores Wanelo works to bring customers and retailers together in one inspiring place Users may follow other users or specific storesGrowing StagesDespite the more than 95 million products shared on Wanelo the company is still in its early stages of growth The Wanelo Facebook page has over 174 thousand likes and their Twitter page has over 48 thousand followersAccording to the company quotWanelo39s growth has been tremendous since the relaunch last summer and it really hit a new level when the iOS app started catching on in November Now that app is often the 1 app in the App Store39s Lifestyle category and we39ve managed to stay in the top 50 or so free apps overall lately The Android app is also seeing solid growth Meanwhile store owners and retailers are beginning to help spread Wanelo even furtherquotWith an updated version of Wanelo and growing consumer response Wanelo is also emerging as the next superhot social platform among marketersNEXTIf you are receiving this report you are a registered member to MyersBizNet or are receiving it as part of a registered corporate membership As a member Jack responds personally to your emails requests and comments He is available to speak at your company events In addition to Jack Myers Media Business Reports your membership underwrites MediaBizBloggerscom Women in Media Mentoring Initiative Jack Myers Wall St Report Jack Myers Video Media Report plus our exclusive industry economic forecasts trend forecasts and corporate performance research Redistribution in any form except among approved individuals within your company is prohibited As a member you have full access to all archives and reports at wwwjackmyerscom If you require your ID and password contact maryannjackmyerscom

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New Media Tech Part 3: WANELO - A Retail Social Hub

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New Media Tech Part 3: WANELO - A Retail Social Hub

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