Social Shopping Platforms Surge, Making Influencers Rich


From wondering. I'm david brown. And this is business. Wars daily on this thursday march fourth. You know they say. A picture's worth a thousand words. But depending on how many followers you have on instagram. That picture may also be worth a thousand dollars or more. Let me explain a decade ago. Instagram was only a year old but personal style blogs were all the rage. Fashion forward bloggers mostly women but a few men would stuff blog posts with dozens of photos of what they were wearing. But one popular dallas-based blogger. Amber vans had a problem. Her blog was driving significant revenue towards the brand she featured in her photos as readers sought to buy the product she shared but she wasn't making a dime and that felt unfair thus reward style was born benz company. Let's bloggers post links to the outfits in accessories. They wear in their posts and if readers click on those links and buy something. The blogger gets a kickback. Rewards style takes a cut to just two years after it was founded. Several of the companies blogger clientele were pulling in millions of dollars in revenue. Vox reported yes. A million dollars just by posting outfit photos in two thousand fourteen vents turned instagram and created the off. Shoot like to know it. Taking brands and photos with the like to know it. Up the influence or makes money parent company rewards style makes money the brands that are shared make money and all is well and ecommerce land and by. Well i mean really well reward style said its revenue. Last year was one hundred and twenty five million dollars and fashion news outlet business. Fashion reported that the platform is driven over a billion dollars in sales for its retail and brand partners part of reward style. Success can be attributed to that thing. We've all been living through for the past year cove. Nineteen as more people stayed home and on their devices influence or marketing became more prominent. According to the wall street journal and brands that were struggling with pandemic related production delays turned to influencers to hype up potential buyers and more companies are leaning on influencers to sell their products. The share of us marketers using influencers is expected to increase to around seventy two percent by twenty twenty two bad according to a report from research firm emarketer and that means rewards styles rivals are ready shop style which was launched in two thousand. Seven is a fashion focused search engine now partners with thousands of influencers to help them monetize. Their posts shop

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