Those of us who purchase products on TikTok almost habitually have Trustpilot open in another tab. Can emerging ‘shopping social network’ Flip cut out the middleman by combining authentic video reviews and in-app ecommerce?
When you’ve a captive audience boasting $360bn in spending power but markedly declining attention spans, what do you do? You quite literally create a one-stop shop.
Meet Flip, the ‘social shopping network’ targeting Gen Z which is essentially billed as TikTok meets Sephora.
Upon downloading the app and ticking a few interests, you’re presented with a short-form video feed where creators advertise products that can be purchased there and then. The algorithm, meanwhile, will constantly tailor your feed to (hopefully) maximise your spending. Simple.
From a creator/seller point of view, those who post ads or reviews can monetise their content in multiple ways. Sales earnings tied to a video will see its creator pocket a decent percentage of the product’s price, while engagement retention is also rewarded – this is a social media platform, after all.
The Gen Z POV blog author, Meagan Lust, claimed that she recouped between 5% and 15% of product prices per sale, and between $15 to $25 per 1,000 unique viewers who watched for over 3 seconds.
— Flip.shop (@joinflip) October 7, 2023
Comparative to TikTok, where revenue is 2-4 cents per 1,000 unique views, Flip is far more lucrative – though view counts are likely to be lower, granted.
That’s not to say, however, that Flip is small-time. On the contrary, it was the fastest-growing shopping app on both iOS and Android last month and has been downloaded 3.6 million times globally.