social shopping: how polyvore is driving sales
DESCRIPTION
Today’s online shopping model is shifting from search based discovery to inspiration. Consumers are no longer motivated by product specs and hard facts. Instead, they’re inspired by pictures of products favored by friends in social communities. In this session, Arnie Gullov-Singh will explain the shift happening in online shopping and provide real life examples of brands who’ve embraced it to improve brand recognition and drive sales. This session will also explore the narrative behind Polyvore's rise to driving more sales than Pinterest and Twitter combined.TRANSCRIPT
- 1. Arnie Gullov-Singh Chief Revenue Officer @arnieCONFIDENTIAL
2. fashion is differentCONFIDENTIAL 3. Desire for uniquenessInspiration Fashion ($49B) Furniture ($19B)Books, Music, Electronics Video ($24B) ($56B)Information Difficulty of expressing what you want CONFIDENTIAL3 4. It boils down to 3 things Commerce requires InspirationCONFIDENTIALInspiration requires ContentContent requires Community4 5. Commerce requires InspirationCONFIDENTIAL5 6. Inspiration requires ContentCONFIDENTIAL6 7. Content requires CommunityCONFIDENTIAL7 8. 3,100115,000productssets53,000 shares170,000 shopper visits CONFIDENTIAL8 9. COMMUNITYCONTENTCOMMERCE20M USERS4M SETSTOP DRIVERStyling & ShoppingInspiring ShoppersOf Sales & Customers Sales ($Millions)$10. 70Facebook$6.3 4Polyvore PinterestTwitter$2.1 0 $0.9 3Average OrderCONFIDENTIAL$200 9 10. What Every Retailer Can Do Today Create contentCONFIDENTIALDistribute contentBuild community10 11. CONFIDENTIAL