Social media sites seem to be popping up everywhere. As Pinterest grows in popularity, we take a look at a similar site called Fancy. Started around the same time as Pinterest, Fancy has the same look and feel as Pinterest except for one thing. A buy button.
Aimed at millennials, Fancy offers unique, high-end items for sale directly from the site and gets a 10% cut from sales. The ecommerce portion of the site gives sellers a platform while buyers and window shoppers share pictures of items with their peers. The company bills itself as “part store, blog, magazine and wishlist.”
The site is sleek, the products are stellar and the users are social. While Pinterest has 20 million subscribers, Fancy has had slower growth with 1.5 million users. The startup has raised $18 million in funding and has a host of well-known investors in the social space. Fancy takes in $50,000 in sales a week.
Celebrities are discovering Fancy and Business Insider has reported that Apple has taken an interest. [youtube]http://youtu.be/Vm15sw8i91Y[/youtube]
The tagline on Fancy’s website is “Discover amazing stuff, collect the things you love, unlock crazy good deals.” Items for sale range from quirky items like a spaghetti fork that has a handle on it to turn it to larger ones like a suspended camping tent or a robotic lawn mower. Luxury travel destinations are also featured with images of exotic faraway places.
Fancy recently updated its iPhone and iPad app. The company also set up a cash reward system for members who share on the site.
For retailers that target the millennial crowd, Fancy is definitely worth looking into. Let us know what you think about this new up and coming site!
Image via Fast Company