WeShop's Unique Model: WeShop Holdings Limited is challenging Amazon's loyalty model by offering customers equity in the store, contrasting with Amazon's subscription-based Prime service that focuses on perks and speed.
Psychological Shift in Loyalty: WeShop's approach redefines customer loyalty as a financial relationship where shoppers earn ownership through purchases and engagement, rather than just receiving rewards.
Leveraging Social Commerce: WeShop capitalizes on social commerce trends, channeling platform activity back to users as ownership, a strategy that differs from Amazon's attempts at influencer marketing and livestream commerce.
Potential Threat to Amazon: Although WeShop is a small player, its model could resonate with younger consumers, potentially eroding Amazon's subscription dominance by appealing to a desire for personal investment in purchases.
WeShop Holdings Limited is a shoppable social network offering shoppers a loyalty program where they are given the ability to earn WePoints every time they make a purchase, or refer a new user that earns WePoints, which are eventually converted into ordinary shares in WeShop. It has partnered with Influencers, sponsored an organization, Salford City, and developed a Founder Program to spread awareness of the platform. It offers hundreds of millions of products from over 500 retailers in the United Kingdom including eBay, Expedia, Boots, Selfridges and Marks & Spencer to its community daily. It has partnered with affiliate networks that enable access to over 500 United States retailers including Walgreens, Sams Club, Bloomingdales, Kitchen Aid, Samsung, StubHub and Best Buy. Its platform allows its users to recommend any of the hundreds of millions of products available to their friends and across the network by writing reviews and uploading their own content in picture or video format.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
