After just discovering The Fancy this morning I feel both shocked, delighted, and annoyed. Shocked that I have been missing out on what seems to be the future of online shopping, delighted that a site so perfectly thought out and designed now exists, and annoyed that this may just be my new favorite addiction (adios Pinterest).
So what is this new site that has me so worked up? The Fancy is a platform very similar to Pinterest but with the unique feature that allows users to “fancy” items that they wish to buy and then directly purchase them. This site can be described as part wish list, part online magazine, part e-store and complete visual indulgence.
From a business and brand perspective, this click-to-purchase business model seems genius. Not only can users save the items they fancy to their catalogue and follow friends (similar to Pinterest) but they can also then purchase those unique items in a matter of minutes. Other unique features include a referral program that gives users credit when friends sign-up and make purchases, subscription boxes that for $30 send users $60 worth of products found on The Fancy site, and a partnership with American Express that gives users statement credits for purchases using their card followed by a tweet using the #AmexTheFancyOffer hashtag.
While The Fancy’s 2 million users mainly consist of younger women (between 18-24), I see huge growth potential both through adoption by other demographics and for brands who see this model as much more attractive in terms of direct ROI than platforms such as Pinterest and Tumblr.
Watch out Pinterest you may just have a new rival.
Reference: Viral Blog – The Fancy: The Future of Social Media?
