Comparing NTWRK and Whatnot: Which Is the Better Live Shopping App?
Looking for the best live shopping app? Check out our comparison of NTWRK and Whatnot to find out which one is right for you.
In the dynamic world of ecommerce, new platforms are constantly emerging, offering novel ways for sellers to reach customers. Marketplaces like NTWRK and Whatnot have been gaining ground, serving as fierce competitors to the likes of Amazon Live, due to their innovative approach to shopping, combining the convenience of ecommerce with the interactivity of social media.
These platforms can be a boon for sellers who don't have their own ecommerce presence or those looking to broaden their PR. However, for businesses willing to cultivate their audience, producing owned live shopping experiences on your site can offer enhanced benefits without the associated platform fees, with GhostRetail's ZERO integration livestream shopping solution being a prime example. Connect with the Ghost team today to learn more about starting your own 1:Many live shopping experience for free.
Now, let's delve into the business prospects of NTWRK and Whatnot.
Understanding NTWRK and Whatnot from a Seller's Perspective
The landscape of shopping apps is diverse, but two platforms, NTWRK and Whatnot, have emerged as popular choices for many sellers. NTWRK and Whatnot differ in their approach to live commerce, but both provide unique opportunities for sellers to engage with consumers in real-time.
NTWRK Overview: Where Exclusivity Reigns Supreme
NTWRK is far from your average shopping app. It's a unique social commerce platform that offers a highly interactive experience for users, transforming shopping into an event. The app's live stream format allows hosts to showcase and review products in real-time over live video, providing viewers with an immersive shopping experience that only lasts for a short time.
This approach has made NTWRK particularly popular in North America among collectors and fans of streetwear and sneaker culture, as it features exclusive and limited-edition products that are hard to find elsewhere. It also creates a sense of 'gotta tune in' as avid treasure hunters never want to miss the opportunity to score particular products.
For sellers, NTWRK can offer access to a passionate and engaged audience that appreciates the exclusive nature of the products on offer. However, the exclusivity and niche focus of NTWRK may limit its appeal for sellers with a broader product range, as it might not provide as much reach as other platforms.
Whatnot Overview: A Community-Oriented Marketplace
Whatnot takes a different approach to ecommerce, emphasizing community building and seller-buyer interaction. Every seller on Whatnot has a profile page, where they can showcase their products and provide information about themselves. This feature allows users to follow their favorite sellers and stay up to date on their latest offerings.
Whatnot's user-friendly interface is another standout feature. The app is easy to navigate, and the search function makes it easy to find specific products. The product pages are well-designed, with high-quality images and detailed descriptions.
Whatnot's focus on building a community around its sellers (who basically play the role of influencer) provides a more personalized connection between sellers and buyers. This can lead to higher customer loyalty and repeat business. However, while Whatnot offers a wide range of products - from Pokemon cards to comic books - the livestream shopping platform's focus on individual sellers means that it can be challenging to stand out from the crowd and compete with other sellers. Not only that, but you may be limited to building rapport with your community more than the wider audience tuning into Whatnot for live stream shopping.
In short, one way to think of the difference between NTWRK and Whatnot is similar to how you might view TV subscriptions. Shoppers flock to NTWRK the same way they flock to a popular streaming platform like Netflix, because they gotta see the latest and greatest offerings. But Whatnot is sort of like cable, where you can pick and choose what channels (sellers) interest you from a much broader swath of content.
Key Business Considerations for NTWRK and Whatnot
Exclusivity and Reach
One of the key differences between NTWRK and Whatnot is the level of exclusivity and reach they offer. While NTWRK's focus on exclusive and limited-edition products can be highly advantageous for sellers in those niches, it may not be the best fit for those with a more diverse product line. The niche nature of NTWRK may limit the potential audience for sellers that offer a wider range of products.
On the other hand, Whatnot's broader selection of products and user-friendly interface may be more suitable for sellers targeting a wider audience. The platform caters to a diverse range of interests and tastes, which could mean a larger potential customer base for sellers.
Decision point: If you're in the business of selling hype-driven releases, try NTWRK. If you just want to get started with live selling, period, Whatnot might be a better fit.
Again, you can also sell on your own website, including blogs or content sites, using Ghost's super simple livestreaming platform. In fact, one of the perks of selling through Ghost is you don't even need to have the products in hand. You can drop affiliate links into your livestream to generate revenue off of shopper interest in what you're promoting.
Community Building
Another key consideration for sellers is the level of community interaction each platform offers. Whatnot's community-oriented approach can help sellers establish a loyal customer base, as customers can follow their favorite sellers and interact with them. This can lead to a more engaged audience and higher repeat purchase rates.
In contrast, NTWRK focuses more on the livestreaming experience, which may not provide the same level of personal connection between sellers and buyers. However, the livestreaming format can create a sense of excitement and urgency around product releases, which can drive impulse purchases and increase sales.
Competition
Finally, sellers should consider the level of competition on each platform. Sellers on Whatnot may face stiff competition due to the platform's focus on individual sellers and community building. It's important to note that while this community-oriented approach can result in greater customer loyalty, it also means that sellers have to put significant effort into standing out from the crowd and attracting followers, not unlike social media. The top 1% are generating significantly more results on the platform than any new person that's just trying their hand at live selling.
On the other hand, NTWRK's exclusive nature can offer sellers of any following or social standing an opportunity to shine, as the platform's selective and niche approach can result in less competition. On the one hand, awesome - every seller is basically treated the same, because it's about the products, more than the hosts. However, the flip side is that getting your products featured on NTWRK can be more challenging due to the platform's exclusivity and focus on limited-edition products.
Product Selection and Variety
As NTWRK and Whatnot advance their brands, consumers are starting to associate each site with a different array or categories of merchandise. That's why it's important to consider the selection and variety of products available on different platforms when selecting the right one for your business. If you're in the business of selling limited edition collectibles, one platform might be better for you than the other. Keep reading to better understand what products are available on each site to select the right one for your business.
NTWRK's Curated Collections
If you're in the business of selling exclusive and limited-edition products, NTWRK might be the app for you. NTWRK focuses on offering a carefully curated selection of items that are often difficult to find elsewhere. From high-end fashion collaborations to rare sneakers and collectibles, NTWRK's product range is niche and highly coveted.
One of the top consumer benefits of shopping on NTWRK is shoppers can be sure they're getting something unique. The app's curators work hard to bring shoppers products they won't find anywhere else. This makes NTWRK a great platform for new brands and designers, as well as for promoting limited-edition drops or exclusive collaborations.
However, if you're looking for a wider distribution network than just NTWRK or aren't willing to make your drop particularly exclusive, NTWRK might not be the best choice. The app's focus on exclusivity means that its product range is relatively narrow. While there's certainly something for everyone on NTWRK, brands with very broad interests might struggle to connect with the platform's key demographic.
Let's keep in mind that not every product offered on NTWRK is exclusive. Sometimes it's just about the exclusivity of the experience. If you can create a compelling show or experience around your live shopping experience, you can just as easily sell out. One recent example is when NTWRK offered a coffee table book that could not only be bought elsewhere, but bought for less than they were offering it for. In fact, they ordered their copies from Amazon...and promptly sold out all 200 copies in 2 seconds after they dropped. Ultimately the promise of platforms like NTWRK is in the power of discovery.
Whatnot's Diverse Offerings
If you're looking for a platform that focuses on a wide range of products, Whatnot might be more up your alley. Whatnot offers a diverse selection of items, from rare and hard-to-find collectibles to more mainstream products like Funko Pop toys and trading cards.
One of the benefits of shopping on Whatnot is that there's something for everyone. Whether you're appealing to die-hard collectors or people looking for a fun gift, you're likely to connect with a segment of Whatnot's diverse audience. In fact, Whatnot's product variety is one of its strong points, as it caters to a broad range of interests.
However, if you're looking to create a sense of exclusivity and hype around rare or hard-to-find items, Whatnot might not be the best choice. While the app certainly has its fair share of rare collectibles, it's not quite as focused on exclusivity as NTWRK. Sellers looking to promote truly one-of-a-kind items might struggle to generate excitement for them on the platform.
Ultimately, the best platform for your brand will depend on your individual needs and preferences. Whether you're looking for exclusivity or variety, it's worth taking the time to explore different apps and see what they have to offer.
Pricing and Fees
NTWRK's Pricing Structure
NTWRK's pricing structure isn't particularly transparent, but they tend to make money in two primary ways. The first is by charging buyers a flat transaction fee. The second is through taking a percentage of the sell price of auctioned items.
Whatnot's Fee System
Whatnot charges sellers a commission fee for each livestream shopping sale, which can be a percentage of the sale price or a flat rate. Buyers do not pay any additional fees, making it a more cost-effective option for shoppers. However, the commission fees may deter some sellers from using the platform.
Leveraging Live Shopping for your Own Ecommerce Site
While NTWRK and Whatnot offer unique advantages, sellers and retailers also have the option to create their own live shopping experiences directly on their eCommerce websites. This approach allows sellers to control every aspect of the live sale shopping experience and engage directly with their customers. GhostRetail, for example, offers a solution that allows businesses to host live shopping experiences on their own websites, providing an engaging and interactive experience for customers while eliminating the need for platform fees.
The benefits of hosting live shopping events on your own site include:
- Control Over Your Brand: By hosting live shopping events on your own site, you maintain complete control over your brand and how it's presented. This can result in a more cohesive and consistent brand experience for your customers, which can enhance brand loyalty.
- Direct Engagement with Customers: Live shopping events on your site allow you to engage directly with your customers. This can help build a more personal connection with your customers, which can enhance customer loyalty and repeat business.
- No Platform Fees: By hosting live shopping events on your own site, you avoid the platform fees that come with selling on marketplaces like NTWRK and Whatnot. This can result in higher profit margins and more control over your pricing strategy.
- Better Data Controls: What data you have access to through a third-party marketplace like NTWRK and Whatnot is always going to be limited by what those platforms will offer. With your own hosted livestream events, you can better track how many people attended, and what piqued their interest during a show.
Conclusion
In conclusion, NTWRK and Whatnot offer unique opportunities for sellers, with NTWRK providing a platform for exclusive and limited-edition products and Whatnot offering a community-oriented marketplace for a wide range of goods. However, these platforms come with their own challenges and considerations, including potential limitations on reach and competition from other sellers.
For sellers seeking a more personalized and controlled approach, creating their own live shopping experiences on their websites can be a viable alternative. GhostRetail's livestream solution provides an easy and effective way to host live shopping events, offering a similar level of interactivity and engagement without the platform fees. Plus you can get started for free!
Regardless of the platform you choose, the key to successful selling in today's ecommerce landscape lies in understanding your target audience, providing an engaging and interactive shopping experience, and building a strong connection with your customers. By considering your business needs and the unique advantages of each platform, you can find the best fit for your business and thrive in the ever-changing world of ecommerce.
