How Whatnot is revolutionizing social commerce
In a world where shopping is becoming increasingly digital, Whatnot is setting new standards. Founded in 2019 by Grant LaFontaine and Logan Head, Whatnot is more than just an interactive marketplace—it’s a platform that blends livestreams, auctions, and social media into a unique shopping experience. With over $60 million in funding secured by 2024 and a focus on niche products like sneakers, vintage fashion, and trading cards, Whatnot has made its mark particularly in the US and Europe.
What Makes Whatnot Special?
Whatnot combines the best of e-commerce, social media, and live entertainment. Users can place bids in real time, make instant purchases, or interact directly with creators. The platform also integrates gamification elements (giveaways, mini-games) and exclusive live events that create a sense of urgency through FOMO (Fear of Missing Out). The platform primarily reaches Generation Y (ages 28–43), which makes up more than half of its user base.
Findings from Primary Research
Justin Orth and Jakob Möbius conducted a survey to analyze user behavior on Whatnot. The results showed that only 57% of respondents were familiar with the platform, although two-thirds had already used other social commerce platforms. The most popular features included product purchases, following specific creators, and bargain hunting. Notably, entertainment also played a significant role: 46% of users visited the platform mainly for fun.
The Role of Influencers and Social Events
The authors argue that Whatnot could expand its reach by strategically combining influencer marketing with social events. Exclusive events hosted by well-known influencers could attract new target groups and strengthen the sense of community. By integrating gamification elements such as live voting or real-time giveaways, Whatnot could create an interactive experience that appeals to both buyers and sellers.
Opportunities and Criticisms
The platform offers significant growth potential by engaging new communities and fostering user trust through direct interaction. However, there are also critical concerns: The heavy focus on FOMO and impulse purchases could encourage excessive consumerism. Studies show that up to 75% of impulse buys are triggered by FOMO—an effect that becomes even stronger in social situations.
Conclusion: Opportunities and Challenges for the Future
Whatnot is undoubtedly a pioneer in the social commerce space. With the right balance of entertainment, gamification, and social interaction, the platform could not only increase its reach but also redefine the online shopping experience. However, the fine line between innovative marketing and manipulative sales strategies remains a challenge to navigate.
Whether Whatnot will shape the social commerce market in the long term remains to be seen. But the potential is clearly there.
The authors
Justin Orth and Jakob Möbius are students at IU International University. As part of their studies, they created this presentation to analyze developments in the field of social commerce using Whatnot as a case study.