Curated Shopping: Discover hidden gems of the internet
The recent e-commerce flip-flops are going to make a huge impact on the retail landscape of India:
- eBay in talks to sell it’s India unit to Flipkart that is speculated to make about $2 billion investment in Flipkart.
- Snapdeal in talks with Flipkart, PayTm for potential sale that might strike a $1.5–1.8 billion deal.
While Flipkart and Amazon are competing against each other in taking larger market-share and eBay and Snapdeal are looking for acquisition, in between these, there is running a potential sweet spot for a lucrative business model of *Curated Shopping* utilizing these players.
Curated shopping is not newly coined; it gained attention somewhere in 2013 and since then it is gaining traction.
What exactly is Curated Shopping?
It’s about discovering interesting products based on certain preferences such as personal interests, trending products in the market, newly launched items, and uncommon products. The emergence of this curated shopping roots back to cropping up of e-commerce giants where they list and sell all of their inventory online.
People do have money, but they don’t have time
Curated shopping websites tap in the time of people and showcase them products selected wisely. This saves a lot of time and also leads to the discovery of hidden gems floating around the internet.
How do Curated Shopping Websites make money?
Not all are very profitable. Making money through curation depends on a lot of factors such as:
What is being curated?
Who is curating?
Are the curated items those, which people are searching or buying frequently?
Which product categories are they curating — Luxury or Non-luxury?
Considering all such factors, curated shopping websites are seen to pick up a niche such as lifestyle, fashion, shoes, books, furniture etc.
Once they drill down a niche, example: Gadgets, they select products on e-commerce websites such as Amazon.com, Flipkart.com, Myntra.com etc. They list down those selected products on the website and hyperlink the product “Buy option” to these particular websites.
The money making machine is wrapped behind the “Buy option”. The particular link is not a normal link, it’s an affiliate link. They get approval from Amazon and other websites to use those links adhering to the policies.
Once a consumer discovers a product on a curated shopping website such as Dressprise.com (Disclaimer : I’m the founder of dressprise.com), and selects and buys the product through that particular link, the landing website gives a commission to Dressprise and that ranges from as minimal as 1% to 12% of the product selling value.
Now the percentage share looks small but when you have enough traffic and visitors looking for products and buying through your links, the same percentage will convert to millions.
The scope of Curated Shopping ahead
Retail’s next big reality is going to be Curated Shopping and Digital Assistants as predicted by Shaswat Goenka, Sector Head at Spencer’s Retail.
Since consumer expectations are going high and they don’t have enough time to scroll down 1000s of products over 100s of websites, they will look for on-demand access to products and services on multiple platforms. The entire consumer journey and purchase decision will shift towards minimalistic shopping options.
Trending Curated Shopping Websites
While a lot of websites are floating around utilizing curation, few of the following are trending ones:
- Canopy (Curated shop for Amazon)
- Seenit (Growing Fashion Community)
- Repick (Curated well design products from the internet)
- Dressprise (Curated shopping for Lifestyle products)
- Lyst (Curated shopping for specific brands)
- Unsplash (Discover free high-resolution photos)
While you bookmark these websites, in order to discover uncommon products, I’d like to have your thoughts on : In what way can we improve Dressprise.com to add to your discovery? What do you see as missing and would like to see?
Comment below or reach out to me at email@example.com. I’m all ears to have your feedback.
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