Rise of Social Shopping
Blink an eye and big stuff happens. With valuations in the billions for sites such as +OpenSky and in the hundreds of millions for relative newcomer WaNeLo.com Don't get lost in the trap such valuations create.
Remember Arthur C. Clarke's quote:
Any sufficiently NEW technology is indistinguishable from MAGIC.
There are several forms of new ecommerce magic happening now including:
+Wanelo = gamified, social & mobile shopping.
MassDrop = social affiliate program.
+OpenSky = Social Shopping with a #crowdfunding or +quirkydotcom feel.
+fab.com = social shopping.
+Etsy = +eBay for crafters.
+Woot = Daily Deal
We added a new section to our Ecommerce Questions Haiku Deck to reflect the rise of social shopping. We also noted how and why Amazon should be worried. New "social shopping" plays are hitting Amazon right where they are vulnerable - community, social and mobile.
Amazon is "Search and Stab" and they are about to compete with savvy mobile game creators. Shopping as a social game will beat low prices created by scale. Didn't Amazon just prove that point by vanquishing Walmart from the king's ecommerce throne?
Amazon understands the ARBITRAGE of online commerce better than anyone, but what if arbitrage wasn't the driving force anymore? Going to be an interesting fight between SCALE and its many benefits and a new generation of "kids" who don't know any better than to question everything, assume nothing and have FUN.
Fun is contagious. Will follow with video notes soon.
Via Martin (Marty) Smith