Pinterest Competitor, The Fancy, Enters Social Commerce via Mobile Apps
Site Announces 1 Million Users
Browsing and buying has just been taken to a new level. Unlike Pinterest, rival The Fancy has utilized a new way of photo blogging with ecommerce. On Pinterest, users can repost photos of brands, and even purchase products; however, they are then re-routed to the brands website. The Fancy changes the shopping experience with ease. Unlike its competitors, users can now purchase items from over 2000 brands directly from the startups site of mobile app. Although at first glance, Fancy looks like another version of Pinterest , the site has many ecommerce differences that have the potential to levitate the site to a different social level than that of its social sharing-based rivals.
The Fancy welcomes photo sharing. Much like Pinterest you can like a photo, or “fancy it,” and can repost or “re-fancy” photos that bring interest to you. However, Fancy has focused more on commerce than its competitor. The New-York based startup has allowed brands to participate with their social site and sell products throughout the Fancy community. Fancy has grown from having 400 merchant brands in February to currently over 2,000. Companies have the ability to sell their products through photos. They can use catalog shots, or trending photos that implement the product. Hotels for example may use a scenery shot, or brands may use an editorial photo with their apparel. Since enabling ecommerce on its site in February, the Fancy has seen an average on $50,000 a week in sales and is reaching 1 million users in their database from 250,000 in February. Pinterest in comparison has had 100 million visitors since January 2012.
Fancy has expanded their ecommerce to their iPhone, iPad, and Android apps that were updated to the social commerce format this past week. The app also allows users to purchase directly through their mobile device and through Fancy.
The Fancy has some of the best deals and sales for some high fashion brands. The company has recently partnered with Oscar de la Renta and debuted a sequined t-shirt from Spring 2012 that brought in over $10,000 one week of sales. Joe Enihorn, CEO of Fancy stated he is excited to announce future partnerships with big names in fashion for an event around the next fashion week. Another impressive fact for Fancy is that they are backed by PPR, a French firm that owns some huge fashion brands such as Gucci, Bottega Veneta, Balenciaga, Alexander McQueen, and Yves Saint Laurent.
The Fancy has the connections to create deals, partnerships, or licenses with big names. Although their ecommerce integration is relatively new, their similar photo-simulation and sharing brings users to browse, “fancy,” receive deals, and eventually generate commerce. With an increase in users and commerce, Fancy seems to be fancying everyone the right way.
by Samara Freschman