Dec. 21, 2012
Polyvore, the largest fashion retail community on the web, is cracking the code of commerce 3.0, according to a Forbes article.
The five-year-old company is part style and part social commerce, with 20 million unique visitors visiting the site each month to create Pinterest-like collages of products ranging from apparel to accessories to home furnishings. The difference with Polyvore is that is has been able to translate the enormous traffic into enormous spending.
New data released by the company yesterday indicates that the average order size from Polyvore visitors is $220. On Black Friday, the average Polyvore shopping cart was 50 percent higher than the average for an apparel retailer, with the biggest order ever totaling $67,315. Polyvore's successful model is due in part to affiliate marketing links, in which the platform receives compensation each time a user clicks through from a product to a retail or brand page. All this has translated into a 2.3x revenue increase for the lucrative company, according to the article.
"What's exciting about Polyvore is that it's a fast growing social platform that actually drives sales of products for brands and retailers," said Arnie Gullov-Singh, Polyvore's chief revenue officer. "That's rare to find in today's social media landscape and it's what attracted me to join the company."
Read more about online retailing and social media.