Geeknet terminates a purchase agreement with Hot Topic and accepts a $20 per share bid by GameStop.
The company now enables its members to create listings and sell to one another.
It’s garage sale meets mobile device meets social network. Wish, a service that enables shoppers to sign up with their Facebook credentials to find, collect, share and purchase products via their mobile devices or a computer, has launched a marketplace feature called Wish Closet that allows members to sell to one another.
Consumers can take a photo of the item they would like to sell, add product details, name a selling price and create a listing. Wish provides sellers with shipping labels and pays sellers the selling price minus a 20% commission.
Wish’s consumer-to-consumer marketplace feature is the latest addition to its merchant portal, which allows retailers to upload goods directly onto the company’s site and apps and match them with consumers who have added similar products to wish lists. The new marketplace feature uses the same matching technology so that users see items in sellers’ product feeds that are similar to what they have placed on their wish lists. For example, a user that uploads “cheetah print boots” to her wish list will see a feed with similar products.
"What's unique about Wish Closet is that consumers are treated as merchants on the platform, so their products are matched with the users that are mostly likely to be interested in and buy these pre-owned items," said former Google senior engineer Peter Szulczewski, CEO and co-founder of Wish.
Wish, which was launched in December 2011, says it has more than 3 million SKUs that are matched with nearly 15 million registered users. Those users have created 500,000 wish lists and add between five and 10 million products to their wish lists each day on average. Wish says users are sharing 200,000 products and wish lists daily with family members and friends via Facebook. 90% of wish activity, such as browsing, buying and creating wish lists, takes place on mobile devices, the company says. The company has both a mobile site and mobile apps for Apple Inc.’s iOS mobile operating system and Google Inc.’s Android mobile operating system.
Wish uses responsive design for its site, a design technique that uses one set of web content and renders differently to fit the screens of desktops, tablets, smartphones and other web-enabled devices. Wish users spend an average of 29 minutes a day in the company’s mobile apps, which is where Wish says it mainly focuses its efforts to drive users and growth.