Retailers including John Lewis , Marks & Spencer and Appliances Online are working with a new social commerce website, Set That.
The site, based in Australia, rewards users for compiling ‘sets’ of products and promoting them through integrated social media. Set creators, who might include designers, stylists, experts, retailers or shoppers, can earn up to 2% commission on sales for themselves or a charity. Visitors to the site are shown sets of products that are most relevant to their profile and shopping preferences. Clicking on the buy button takes the shopper to the retailer’s own site to complete the transaction.
Set That says more than 100 retailers, also including Bloomingdales, Stylebop.com and Habitat, have already committed to the site.
Retailers can work with Set That through affiliate marketing networks or sign up with the site directly.
Its co-founders, Kim Westwood and Liz Tehan (pictured, Tehan on left) are now in early talks with investors both in Australia and further afield.
“We are looking both in Australia and in the US to get our first round of venture capital funding,” said Tehan. “We have a number of presentations lined up next month with interested investors, including both local and international, and have had good feedback and high interest levels in the business from potential investors.”
Projections for Set That are to have 300 registered stores by the end of 2013 with that number increasing to more than 3000 by 2015. This year alone stores are expected to showcase 1.5m products to 200,000 users. By 2015 that figure is projected to reach 15m products shown to 2.5m users.
Tehan added: “Overall, the reaction so far from retailers has been extremely positive, particularly from those in the US and the UK, who have included this type of marketing model in their strategy for some years and have been quick to sign on. The Australian retailers are a little more hesitant to engage however we feel confident this will change over the coming months as they see the live product and the success of the initiative.”
“Utilising relationships formed with retailers through international affiliate marketing networks has been a great way to enter the market. Retailers can also join directly with us and, now that the site is live, we can work with those interested to bring their products to people through this innovative marketing model.”
Affiliate marketing network provider Rakuten Linkshare has worked with Set That.
“Retail has been remarkably fast in embracing Set That because it provides an innovative opportunity for retailers in the online shopping landscape,” said Anthony Capano, managing director, Rakuten Linkshare Australia. “The website allows retailers to benefit from new customers delivered by a virtual sales force – the site’s set creators.
“Set That is also a great example of how publishers are becoming more advanced in Australia as they find new, innovative ways to drive traffic for retailers” he added.