When referring to competition in the creative social media industry, Pinterest is the obvious elephant in the room. Wanelo is trying to change that and they are encroaching in on Pinterest’s territory. In fact many people have been speculating that Pinterest might make an effort to purchase Wanelo sometime in the near future. Wanelo and Pinterest share a lot of the same audience and therefore overlap a lot when it comes to content. The only obvious difference is that Wanelo was designed to be a buy and sell platform while Pinterest is simply a place to share ideas. This overlap has resulted in content from Pinterest being posted for sale on Wanelo. Now granted, Pinterest is much larger than Wanelo with nearly 70 million users compared to Wanelo’s 11 million; but that does not take away from the potency of the Wanelo business model. The sales aspect of the Wanelo model has spurred the growth of the site and has since pushed it right into the Pinterest target audience. One of the larger aspects of Pinterest is that people do buy and sell on the site; however the lack of infrastructure and formal purchase process has led to it being clumsy and reliant on private modes of purchasing such as PayPal and Venmo. This has led to the gradual migration from Pinterest to Wanelo. While Wanelo still is not as large or user heavy as Pinterest, it still poses a serious threat to the future of Pinterest and its monopoly on the sharing of ideas. One of largest similarities between the two is their demographics. Pinterest’s is audience is 87% women with 16% being between 18 and 24 while Wanelo’s is comprised of nearly 90% women with 50% being between 18 and 24. The obvious advantage that makes Wanelo so promising is that it has a very young audience that Pinterest is lacking. The younger generation has always been key to the success of social media and Wanelo is no exception. Wanelo’s potential is expected to grow as it matures in the social media world especially as Pinterest and others begin to realize the threat that Wanelo poses to their social media interests. Whether or not Pinterest makes a move to purchase Wanelo remains to be seen but for now it remains as a strong competitor against Pinterest as it moves up in the world.
Check out the other competition at ETSY in the Crosshairs
Image Sourcing: http://hubpages.com/business/How-Social-Media-Has-Changed-the-World-Impact-of-Social-Media-on-Our-Lives