San Francisco, CA – Whatnot, the popular livestream marketplace for trading card collectorsand sneakerheads, has announced that its annual gross merchandise volume (GMV) has surpassed $2 billion. This milestone comes on the heels of the launch oftheir new Rewards Club, a customizable loyalty program designed to further engage both buyers and sellers.
The company’s impressive growth not only reflects the increasing popularity ofWhatnot’s platform but also highlights the burgeoning live commerce market in the United States. While still significantly behind China, where livestream shopping is a $512 billion industry, Whatnot’s success demonstrates the potential for this innovative approach toe-commerce in the Western market.
Rewards Club: A New Incentive for Engagement
Whatnot’s Rewards Club is a unique feature that allows sellers to create their own personalized rewards for buyers. These rewards can include coupons,free shipping, access to exclusive shows and merchandise, and more. This customizable approach allows sellers to tailor their rewards to their specific audience and incentivize repeat purchases.
We’re excited to introduce Rewards Club as a way for sellers to build deeper relationships with their buyers, said [insert name and title of Whatnotexecutive]. By offering personalized rewards, sellers can create a more engaging and rewarding experience for their customers, ultimately leading to increased sales and loyalty.
The Future of Livestream Commerce
Whatnot’s success is a testament to the growing popularity of live commerce. Consumers are increasingly drawn to the interactive and engaging natureof livestream shopping, which allows them to connect directly with sellers and get real-time product information.
As Whatnot continues to expand its platform and introduce new features like the Rewards Club, it is poised to become a major player in the live commerce market. The company’s focus on building a strong community of passionate collectors andsellers is a key driver of its success.
References:
- Whatnot Website
- Whatnot Rewards Club
- CNBC: Livestream Shopping Booms as Small Businesses Hit Social Media
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