The ‘share and earn’ service providing a win-win scenario for customers and retailers
Founder: Peter Janes
Launched: February 2012
Social media is used regularly as a marketing tool for retailers, but with new social technology partner shopa, both merchants and customers can now cash in.
Launched in February 2012, shopa brands itself as the world’s first social shopping marketplace and rewards mechanism.
Available online and through mobile, the company’s ‘share and earn’ mechanism enables retailers to offer rewards to people who recommend their products, which is split between the sharer and a friend who acts upon the recommendation.
As customers only receive rewards when friends buy a recommended product, retailers can market as cost effectively as possible and are able to see the tangible results of social media recommendations. To date, users have experienced a 17% increase in sales through using the platform.
With 5,000 members joining the shopa community every day, shopa is hoping to disrupt the affiliate marketing space and with a global technical partnership granted by eBay Inc, the company looks set to do just that.