The deal, announced Tuesday (Aug. 22), marks CommentSold’s (CS) entrance into direct-to-consumer commerce, the company said in a news release.
“With the revamped version of Popshoplive, powered by CS, creators will have the opportunity to sell products directly to their followers in place of referring them to brands, via their own uniquely branded storefront,” said Gautam Goswami, CEO of CommentSold.
He added that the acquisition allows creators to “track every transaction and own their customer base,” and creates a platform “where creators can become businesses and eventually brands in their own right.”
Previously limited to large boutiques and enterprises, CommentSold’s eCommerce tools will now be open to established creators, newly-minted influencers, solopreneurs looking for extra income, and major brands wanting deeper relationships with their customers, the release said.
“Popshoplive’s marketplace is particularly amenable to smaller creators and solopreneurs, providing a stage for talented individuals to create and host their own live selling show and build their communities,” the company said.
The deal is happening at a moment where — as PYMNTS noted in June — creators have become stars, able to attract a global audience. The trend has helped turn social commerce into a trillion-dollar-plus industry.
“Creators and influencers have become key players in the fashion industry, particularly with the rise of Instagram, TikTok and YouTube,” PYMNTS wrote. “Their personal style, interests and influence are often the result of their authentic connection with their audience, who trust their recommendations and opinions.”
According to influencer marketing platform LTK, Gen Z women turn to TikTok and creators for fashion inspiration. And in terms of beauty inspiration, creators rank as the top influencers for Gen Z.
This is why it’s time for financial institutions to recognize that social media stars might just be the digital equivalent of tomorrow’s small- to medium-sized business (SMB) segment, Marie-Elise Droga, head of FinTech at Visa, told PYMNTS CEO Karen Webster.
“Creators are generally underserved today in their financial lives,” said Droga. “They can’t be looked at through the lens of an individual consumer — this is the fastest growing category of SMBs in the world.”
It’s no longer an opportunity that businesses can afford to ignore, Droga added, as social commerce is one of the fastest growing ecosystems around today.