In the never-ending ebb and flow and evolution of the internet and ecommerce does come the newest social commerce trend to fascinate the masses: Polyvore. This community-based social commerce website is a powerful product curator, comprised of a vast image collective coined as “Sets.” In their own words, Polyvore is a “new way to discover and shop for things you love.” In reality, it’s the fastest-growing social platform and is currently the largest online style community, earmarking 20 million unique hits per month.
Polyvore Statistics
Curated shopping such as that which is offered on Polyvore may not be the biggest thing to hit ecommerce, but it assuredly will be the next big thing. A quick look at some of the Polyvore statistics we gathered from Expanded Ramblings is telling of that.
- Polyvore currently boasts 20 million users.
- The curated shopping service offers 100 million items.
- 2.2 million new items are added to Polyvore each month.
- Over 3 million outfits are created by users monthly.
- As least 50% of Polyvore sets are on mobile devices.
- An estimated 60% of Polyvore users are between 18-34 years old.
- Polyvore helped create the first statistics on wearables with millions of devices like FitBit selling in top categories.
- About 82% of all Polyvore users are female.
- That average household income for a Polyvore user is $78,000.
- 87,000 new fashion sets are created daily on Polyvore.
- Around half of all Polyvore users are located outside of the U.S.
- The average shopping cart value on Polyvore is $383.
- The return on advertising spending on Polyvore is 6 to 1.
- Over 150 brands are actively advertising on Polyvore at any given time.
- More than 150 million outfits are listed on the site on any particular day.
- The company employs just over 100 people to run its operations.
Highest Average Order Value
Of all the social channels that are out there, one would think that another aside from Polyvore would retain the highest order value. But such is not the case. Given the website’s demographical appeal, it’s easier to understand why the average order value would be so great. Yet still it’s astounding to think that it’s beating Instagram, Pinterest, Facebook, Reddit, Vimeo, Twitter, LinkedIn, Google + and even YouTube for average order value.
Leader In Conversion Value
Speaking of average order value, Polyvore also holds the top slot as the leader in overall conversion value, according to Ad Week. The empire that is Facebook is still untouchable in all regards, retaining 60 percent of the entire social market. But Polyvore, a relatively newer entrant, has managed to earmark 20% of the market in a short period of time, with Pinterest coming in at 15% and Twitter at just 5%. It is considered to be the “leader in high value retail conversions,” says Ad Week, and its appeal is akin to being able to shop at a high-end boutique from your web enabled device.
Estimated Worth of Polyvore
With all of the aforementioned statistics provided, just how much money is a growing behemoth like Polyvore worth? We know Facebook, the social leader, is worth billions. But what about growing giants such as this? A look at Worth of Web reveals that the estimated net worth of Polyvore is about $97,000,000. If the site keeps growing at the pace it’s currently at, experts say it could reach a $3 billion valuation by the end of 2016. How’s that for tripling year-over-year growth?
Why Your Brand Should Be Using It
If you are wondering why and how your brand should be using Polyvore, we found an excellent article on Browser Media that gives you the full breakdown. Here’s a quick breakdown of how this curated social commerce site works.
- Brands add products – Brands and shops can sign up to Polyvore to add their products onto their website.
- Community members create sets – Signed-up community members then put together their own curated collages (called “sets”) of products by dragging and dropping as they wish.
- Add new items to Polyvore as they arrive to your shop.
- Organize the items.
- Reach out and compliment users on nice made sets. If done in a nice way you could even suggest your own product to another member’s set.
- Follow other members in order to reach out and get new and more followers.
- Hold a contest. Polyvore has a whole section on their site dedicated to this purpose alone.
- Put your products into context. E.g.: Summer collection, winter wearables, etc.
Showcase your collections. - Create the right metadata for your collections and sets.
- Buy or share – Finally, visitors can scroll sets and click through to the original source of the product e.g. With some very cool search, browsing and cross-linking, the sky is the limit.