Company Market Research Report: ShopThing Inc.

Company Overview

• Name: ShopThing Inc.

• Mission: To transform the traditional e-commerce landscape by combining live video shopping and the excitement of social media with exclusive luxury deals and accessibility.

• Founded: 2018

• Founder: Maggie Adhami-Boynton

• Key People:

• Maggie Adhami-Boynton (Co-founder and CEO)

• Headquarters: Toronto, Canada

• Number of Employees: Over 100

• Revenue: No information is available

• Known For: Pioneering North America's first live video commerce platform, focusing on luxury and high-end deals through influencer-driven shopping experiences.

Products

• Products Offered: Online platform allowing browsing and purchasing of luxury fashion items, both new and pre-loved.

• Product Description:

• A mobile app that facilitates live video commerce where users can engage with influencers and purchase items in real-time.

• Key Features:

• Access to exclusive deals on designer goods.

• Live streams showcasing luxury items available for purchase.

• Interactive features allowing users to chat and ask questions during live events.

• Users can filter through events to find specific products.

• Facilitates both buying and selling, allowing users to resell their own items.

Recent Developments

• Recent Developments:

• Secured $10 million in Series A funding in March 2022 to enhance platform capabilities and expand geographical reach.

• Latest growth has brought the platform to over 500,000 users across North America.

• New Products Launched: No information is available

• New Features Added:

• Planned rollout of a membership program to provide users with exclusive benefits and perks.

• New Partnerships: Partnerships with brands like Stuart Weitzman, Nordstrom, and Ted Baker to provide shoppers with exclusive discounts and access to inventory.

Additional Information

• Platform Capabilities:

• Livestream commerce allowing influencers to shop in-store and show products via live streams.

• Order fulfillment through the ShopThing App with shipping facilitated by Canada Post or USPS.

• Target Demographic: Primarily targeted towards busy females aged 25-45 who prefer the convenience of curated online luxury shopping experiences.

• Expansion Plans:

• Aim to increase shopper team significantly and expand into more cities including plans for international expansion.

• Awards: Recognized with the World Future Awards for Best E-commerce Shopping Platform in 2023.

• Cultural Impact: Strong emphasis on diversity and inclusion with 75% of the leadership team comprising women and 90% staff being from diverse backgrounds.