Is online shopping the new trend? For the first time, consumers are referring to the web for most of their purchases. According to Fortune, shoppers now make 51% of their purchases online. Why online shop? Convenience, variety, crowd avoidance (Thank goodness!), discreet purchasing, fewer expenses, the list goes on. With so many options to shop on the web, produces have to be precise and careful about how they market their applications, websites, and online stores. Competition can sweep in in a blink of an eye and take the reigns.
Is Wanelo capable of sweeping the competition and becoming an app that the world will see as a game changer for the online community? Let us analyze.
Wanelo was founded in 2010 by CEO Deena Varshvaskaya, when she grew tired of shopping in mainstream malls due to lack of uniqueness. Wanelo currently has about 10 registered users, an average of 200 product saves per second with users spending an average of 50 minutes of the day on Wanelo.
You all marketing gurus are probably familiar with “The Gartner Hype Scale”, which gives you a sense/view of how the new technology will potentially evolve over time. Is Wanelo a promising emerging technology?
When Wanelo first started, it was in the technology trigger phase- a new mobile shopping app that had the option to shop around the world with a click of a button. It gives retailers, marketers, old and new, a chance to expand their brand awareness to millions of registered users. Retailers host contests and giveaways, on Wanelo to market their brand.
As Wanelo continues to grow, they noticed that they needed to introduce an easier and more agile way of using the platform. Too much information can cause an overload for consumers and they would rather visit another platform than try to figure out a way of using the existing one. Wanelo went through the Peak of Inflated Expectations during this time. According to Business Insider, once they adjusted their platform, they saw a drastic increase in traffic from “1 million to 11 million users”, from 2013-2015.
Wanelo has failed to update their registered usage amount as of 2014, still showing 11 million. I would categorize it to be mildly submerged in the Trough of Disillusionment phase of the Gartner Hype Scale. So many new online shopping malls, apps, and technology have emerged that Wanelo has become one of the many thrown into the pile. Success will only continue if Wanelo modifies their application by introducing some kind of innovation that others do not have. There is potential for Wanelo to become a strong competitor, like the popular Pinterest, and begin to emerge into the Slope of Enlightenment, where the enterprise can be crystallized and become more wildly understood.