Whatnot, a platform initially catering to collectors of Funko Pops, has evolved into a revolutionary force in the eCommerce sector, generating an impressive $6 billion in annual sales. This transformation from a niche marketplace to a comprehensive live-commerce ecosystem has captivated users, who now spend an average of 80 minutes daily engaging in auctions, discussions, and community interactions.
The journey began with a small community of enthusiasts dedicated to hunting down rare Funko Pop figures. Whatnot emerged as a space for these collectors to connect, trade, and share their passion. As the platform grew, it embraced live streaming as a primary method of interaction, allowing sellers to engage with buyers in real time. According to Armand Wilson, Whatnot’s VP of Categories and Expansions, the focus has always been on serving the community’s needs rather than reinventing the shopping experience.
Building a Community-Driven Marketplace
Whatnot’s approach stands out due to its emphasis on relationship-driven commerce. Sellers on the platform are not faceless entities; they are passionate experts who curate experiences that feel more like entertainment than traditional shopping. This personal touch encourages buyers to return frequently, often making multiple purchases in a single session.
The platform has expanded significantly beyond Funko Pops, now encompassing diverse categories such as sneakers, luxury handbags, sports cards, and even fresh produce. Wilson notes that buyers often experience “serendipity” while shopping, discovering unexpected items that spark joy. This design principle prioritizes the thrill of finding something new, a feature that many early eCommerce platforms overlooked.
Whatnot also fosters community engagement through rewards programs, allowing sellers to create their own incentives. Wilson observed that buyers participating in these programs show a 20% increase in multi-purchase behavior, highlighting the effectiveness of loyalty built on community rather than discounts.
Integrating Technology Without Losing the Personal Touch
While some platforms utilize artificial intelligence (AI) to automate interactions, Whatnot employs AI as a supportive tool to enhance, rather than replace, human engagement. AI facilitates quick product recognition and listing creation, allowing sellers to maintain momentum during live streams. This approach keeps the focus on the sellers and their unique personalities, enriching the viewer experience.
Wilson describes AI as an “efficiency layer,” which streamlines processes while safeguarding the authentic connections that define Whatnot. Trust and safety checks are also managed through AI, ensuring a secure environment for both sellers and buyers.
Looking ahead, Whatnot aims to broaden its offerings further, with the potential to include categories such as automotive sales and food products. Wilson believes that live auctions for high-ticket items like cars could make the buying process more transparent and exciting. The platform is already witnessing success with food and drink categories, as farms and bakeries start to showcase their products directly to consumers.
Ultimately, Whatnot seeks to reintegrate the warmth and spontaneity that early eCommerce experiences often lacked. As Wilson expressed to Karen Webster, “We’re adding the personal element to the shopping experience that has been missing as eCommerce has just taken off.” This commitment to community and connection has transformed a modest Funko Pop marketplace into a thriving platform where users can discover, engage, and build their businesses in a lively, interactive environment.
