Start-ups in retail technology are growing and Retail Week is highlighting some of the best. This week Shopa is in the spotlight.
Shopa is an online marketplace that enables users to create personal profiles and recommend products through social media in exchange for rewards. Chief executive and founder Peter Janes explains more.
Key facts
Founded: 2012
Investment: £8.2m from investors including venture capital firms Notion Capital and Octopus Investments.
Retail partners: There are over 70 brands live on Shopa to date, including Storm London and Freddy Jeans.
Founder: Peter Janes.
What it does
Shopa is a social shopping online marketplace that enables customers to discover relevant brands and products through other like-minded customers’ recommendation.
Customers sign up to the platform, which is available on desktops and as a mobile app, and create a personal profile where they curate their own product feed for the items and brands they like. Customers can then make all of their purchases directly on the site.
“With the ability to also follow and like other customers, as well as specific brands and products, Shopa provides constantly evolving shopping inspiration” says Shopa founder and chief executive Peter Janes.
“Customers who share this inspiration through their social media channels are rewarded each time friends purchase their recommended products.”
What problem does the technology solve for retailers?
Shopa’s platform offers shoppers a social, recommendation-driven experience, combining the excitement of bricks-and-mortar shopping with the ease and convenience of online retail.
Aimed at 18- to 35-year-old social-savvy shoppers, the online marketplace is focused on harnessing the potential of social media and personal recommendations to increase sales for fashion retailers.
Shopa also works alongside retailers to drive sales and through its patented social tracking technology, provides untapped data on all the social interactions taking place regarding their products.
“Our data can inform retailers on trends, brand advocates, which networks drive the most sales, offering insight for retailers to adjust campaigns accordingly,” says Janes.
More information: www.shopa.com
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