What’s With All The Hype?

Wanelo has seen great success early on in its existence.  As I’ve said previously, for being only four years old, the social shopping app has already amassed an impressive user base of 11,000,000 users.  In comparison to wildly popular social platforms like Instagram and Pinterest this figure may not seem like a lot.  But, brand marketers have already taken notice of the unique sharing environment that Wanelo has created for its user and they believe the future of the “digital mall” is going to be something special.

Let’s take a look at the numbers and see where Wanelo stands in comparison to Pinterest in its fourth year since launching.  Pinterest is running roughly 100 million users per month which is staggering still.  Pinterest was launched in 2010 so it’s technically a year ahead of Wanelo in terms of operating time.  While Wanelo’s user base may only be 10% of that of Pinterest’s, there is unique statistic that may shock you.

The average image posted on Pinterest receives 10 “pins” or saves.

And the average product posted on Wanelo receives 140 saves.

wanelo saves

Image Credit: Wanelo

This is truly remarkable and even though Wanelo’s user base is currently 90% smaller than Pinterest’s, the social shopping network is receiving over 10X the amount of activity and saves per post than its competitor.  To put things in perspective in regards to the potential that Wanelo still has untapped, Instagram has roughly 300 million users which is 3X the size of Pinterests user base.  If Wanelo continues to grow and their activity rate per post stays the same, they could experience nearly 1,300 saves per product at 100 million users.  Now, compare that number to the 10 pins per post that Pinterest is currently receiving — amazing.  The sky truly is the limit for Wanelo.

When analyzing technology and social platforms, often times, Gartner’s Hype Cycle is used to get a feel for where a company or network may stand in the process of maturity, adoption and social application.  There are five phases in Gartner’s Hype Cycle.  They include technology trigger, peak of inflated expectations, trough of disillusionment, slope of enlightenment, and the plateau of productivity.  In Wanelo’s case, it seems as though they are approaching the peak of inflated expectations but are not quite there yet.  When we compare Wanelo’s user base to those of more established social networks, it’s easy to see that there is still a lot of room for growth.  Wanelo has not yet reached its full potential and could cater to a user base similar to the size of Pinterest’s in the near future if digital e-commerce continues to show fast growth.

320px-gartner_hype_cycle-svg

Image Credit: Google Images

 

Many marketers are taking advantage of the opportunities that Wanelo presents which allows brands to grow closer to their customers.  Maybe entering in the digital e-commerce race is the right decision for your business.  Perhaps Wanelo is just what you’ve been looking for.

If you would like to learn more about how brands are diversifying their social portfolios, be sure to check out my guest blog post.

Is Wanelo a “Pinterest for Purchasing?”

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Image Credit: Smartz

Wanelo was launched in 2012 and has been described by many as a future for commerce.  This is understandable as the company’s slogan is “The digital mall for your phone”.  The site currently has over 12,000,000 products posted for more than 300,000 stores.  This includes both large established brands and independent sellers similar to those found on Etsy.  With more than 11,000,000 users across their mobile applications and traditional web platform, it’s hard for companies to ignore the position Wanelo has taken as major social channel and the marketing potential that it holds.

As a social platform, Wanelo allows users to shop and share what products they purchase and prefer with various communities with the user base.  Brands and retailers are manage and operate their “store pages” while engaging the the Wanelo community using comments and stories.  They are also able to see valuable information such as which of their products are trending or being talked about most.  More recently, retailers and brands have started to add the “Wanelo Save” button to their own e-commerce websites.  This is a huge, excited breakthrough for Wanelo.

It’s hard not to compare Wanelo to other social media applications and comparison is important as we continue to understand what makes the network unique.   The obvious and most prominent comparison made with Wanelo is the application, Pintrest.  In September of 2015, the social giant reported that the platform had more than 100,000,000 MAU’s.  This epic milestone was revealed first in a report by the New York Times.  While Wanelo is working hard to catch up to Pinterest in terms of usage, they are not aiming to emulate them.

In a 2013 interview with TechCrunch,  Wanelo’s founder and CEO Deena Varshavskaya had some very interesting things to say when asked about the comparison between her, at the time, “hot startup” and Pinterst.  When asked to address the idea that Wanelo was simply a “Pinterst for things you can buy” Varshavskaya had this to say,

 “I think comparing is fine but we are not defining ourselves a s a “Pinterest for X”.  There are companies who have done that, we are not. We are, from the very beginning of the of the product and the company, exclusively focused on solving commerce and reorganizing commerce around people.”

 

Video Source: Wanelo Makes Shopping Social

While it sounds like Wanelo is focused on differentiating themselves from Pinterst, the fact remains that the two are competitors and a vying for users who are interesting in browsing lists of products and ideas that others like and find worth sharing.  However it is important to note that Wanelo is specific to items that are available for direct purchase only. With Pinterest, users can share or “pin” anything such as recipes, tips, tutorials, clothing, etc.

It will be interesting to see how the two social channels continue to compete with one another and differentiate themselves.  Even though both might not be trying to emulate one another, they are most definitely aware of one another.

Can Wanelo Compete With Pinterest &Facebook? Find Out Here.