How LTK Revolutionized Shopping (fashion influencer becomes very wealthy)

By Free Republic | Created at 2025-01-02 13:12:30 | Updated at 2025-01-04 22:45:37 2 days ago

How LTK Revolutionized Shopping (fashion influencer becomes very wealthy)
TIME MAGAZINE ^ | 17 minute read -- November 20, 2024 | By Eliana Dockterman

Posted on 01/02/2025 5:07:03 AM PST by dennisw

“We’ve come such a long way,” she says in a welcome speech. “Looking at the guest list for today, 10% of you in the room are LTK millionaires.” Everyone swivels their heads in search of these mystery super earners. A man next to me, clad entirely in black, whispers, “Damn, let me take off my sunglasses and take a look around.”

LTK has revolutionized the online shopping experience with what Box describes as a win-win-win model. The company allows influencers to post links to products they’re wearing, carrying, and decorating with on the LTK platform, which their followers can access via social media or the LTK app. If, for instance, an LTK creator posts a photo in a cute blazer on Instagram, one of her followers can click over to the creator’s LTK page to see where it came from and click from there to the brand site to buy it. The retailer makes the sale and pays a commission to the influencer and a transaction fee to LTK. The platform also offers creators information about their reach, their follower demographics, and what types of photos and videos are attracting attention. The company even connects influencers with brands looking for a specific type of person to promote a product—say, a furniture company seeking someone who appeals to 20-something women decorating their first apartments. LTK takes a cut of those deals too.

Box boasts that more than 8,000 retailers are on LTK, 40 million people shop through LTK creators every month, and LTK has helped 419 influencers become millionaires. She estimates that the company, will generate about $5 billion in sales for brands this year, much of which will come this holiday season. Last November, according to LTK, more than $200 worth of products were purchased every second through its creators.

(Excerpt) Read more at time.com ...

TOPICS: Business/Economy; Computers/Internet
KEYWORDS:

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1 posted on 01/02/2025 5:07:03 AM PST by dennisw

To: dennisw

PERMA LINK https://archive.is/X0lOj

I never knew this existed! Amber Venz Box is now worth millions in the 3 figures. All done via the internet. She has changed women’s shopping patters. And how fashions companies advertise.

2 posted on 01/02/2025 5:10:29 AM PST by dennisw

To: dennisw

“Baxter encouraged her to commit to the jewelry line full time, and she made a deal with his incubator to support the business. Still living in her father’s house, she shipped her wares to department stores in New York and set up stands at local markets. “My stuff was, like, really avant-garde. And at this market, I was next to glitter makeup bags,” she says. “I was sort of being snooty and a little offended about my positioning there. But then the first day, I sold $8,000 of jewelry, and they sold $400,000 of the sparkle bags.” She went home to complain to her father. “He was like, ‘Amber, sell to the masses.’” She didn’t have time to implement the lesson. It was 2008, and when the economy took a turn, the business began to collapse.”

3 posted on 01/02/2025 5:11:51 AM PST by dennisw

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