EN
Whatnot is an emerging platform that allows individuals to sell collector's items and products with a 'wow' factor, perfect for impulse purchases. This live commerce platform enables sellers to host live shows where they can auction items or set fixed prices, allowing buyers to interact and make purchases in real-time.
Live commerce combines entertainment with e-commerce, creating an engaging shopping experience. Sellers can showcase their products while interacting with viewers, similar to a podcast format. This approach not only promotes the items but also enhances the overall shopping experience, leading to higher conversion rates.
Inspired by the success of live commerce in Asia, particularly through platforms like TikTok, Whatnot aims to replicate this model in the U.S. market. In China, live commerce has generated over $700 billion, and Whatnot is positioned to capture a share of this growing trend in North America.
To begin selling on Whatnot, users can either visit the website or download the app. The process to become a seller is straightforward, with profile approvals typically completed within 24 hours. However, building a following may take time, and consistency is key to success.
For those with existing social media followings, such as on Instagram or YouTube, it is beneficial to direct that traffic to your Whatnot profile. New sellers may face challenges in attracting viewers initially, but with consistent effort over several months, they can grow their audience and increase engagement.
Starting small is advisable for new sellers. Expect initial shows to have low viewership, but persistence will lead to improvement. Engaging content and a lively presentation can help attract viewers. Sellers should aim to create an entertaining atmosphere rather than merely showcasing products.
Sellers can cash out via PayPal or direct deposit after fulfilling orders. Whatnot charges an 8% commission on sales, along with a processing fee of 2.9% plus $0.30 per transaction. Understanding these fees is crucial for managing profits effectively.
The platform is versatile, allowing a wide range of products to be sold. Sellers should focus on items that have a unique appeal or collectible nature. It's essential to avoid overly niche products that may not attract buyers, ensuring a broader audience for each show.
Whatnot offers an affiliate program that allows sellers to earn commissions by promoting the platform. This can be a valuable opportunity for those with existing traffic from other platforms, enhancing potential earnings while expanding the Whatnot community.
Whatnot presents a promising opportunity for sellers willing to invest time and effort into building their presence. While it may not replace a full-time job immediately, with dedication and consistency, sellers can find success in this innovative live commerce environment.
Q: What is Whatnot?
A: Whatnot is an emerging platform that allows individuals to sell collector's items and products with a 'wow' factor through live shows, enabling real-time interaction and purchases.
Q: What is live commerce?
A: Live commerce combines entertainment with e-commerce, creating an engaging shopping experience where sellers showcase products and interact with viewers, similar to a podcast format.
Q: Why is live commerce gaining popularity?
A: Inspired by the success in Asia, particularly through platforms like TikTok, live commerce has shown significant potential, generating over $700 billion in China, and Whatnot aims to capture this trend in North America.
Q: How do I get started on Whatnot?
A: To start selling on Whatnot, visit the website or download the app. The seller approval process is straightforward and typically completed within 24 hours.
Q: How can I build my audience on Whatnot?
A: Direct traffic from your existing social media followings to your Whatnot profile. Consistent effort over several months can help grow your audience and increase engagement.
Q: What tips do you have for new sellers?
A: Start small and expect low viewership initially. Focus on engaging content and creating a lively atmosphere to attract viewers.
Q: What are the payment and fees associated with Whatnot?
A: Sellers can cash out via PayPal or direct deposit after fulfilling orders. Whatnot charges an 8% commission on sales, plus a processing fee of 2.9% plus $0.30 per transaction.
Q: What types of products can I sell on Whatnot?
A: The platform allows a wide range of products, but sellers should focus on items with unique appeal or collectible nature, avoiding overly niche products.
Q: Does Whatnot have an affiliate program?
A: Yes, Whatnot offers an affiliate program that allows sellers to earn commissions by promoting the platform, which can enhance potential earnings.
Q: Is selling on Whatnot a full-time job?
A: While it may not replace a full-time job immediately, with dedication and consistency, sellers can find success in the live commerce environment.