RSS feed Get our RSS feed

News by Topic

BizReport : Ecommerce archives : July 11, 2011

Social platform helps shoppers go geek

As time spent online increases brands are looking for more online ways to interact with consumers. One of the hottest connection is the social space, where brands are creating social store-fronts, engaging consumers through product conversation and inviting product recommendations and reviews. Add one more interaction to the mix: the ability to see products friends are shopping for.

by Kristina Knight

The new platform, called SneakPeeq, offers consumers a unique social shopping experience based on friendly competition.

The platform has partnered with more than 130 brands to hook in-market consumers up with premium brands, products and information. Plans are in the works for mobile and iPad apps as well as the online version. Through the Facebook app, users can see items their friends are looking at, share product information and get better pricing.

"We are a commerce company and we use game dynamics to drive impulse purchases. We're creating the offline experience online," said Henry Kim, Co-Founder and President, SneakPeeq. "The first thing you notice are the day's boutiques, which are created just for that user, and you can also see what your friends are looking at through the Facebook app."

Price is determined by a backend algorithm and once the price is shown to the shopper, they have 15 seconds to convert the purchase. According to Kim, the price shown is dependent on the user, their purchasing and browsing history. Why is it working? The wonder factor.

"People are nosy in general, they want to know what their friends are doing," said Kim. "Peeking at items may not lead to a purchase at first glance, but maybe the second visit will lead to the purchase."

Tags: F:Commerce, facebook, sneakpeeq, social marketing, social networks, social shopping

Subscribe to BizReport



Copyright © 1999- BizReport. All rights reserved.
Republication or redistribution of BizReport content is expressly prohibited without the prior written consent.
BizReport shall not be liable for any errors in the content, or for any actions taken in reliance thereon.