While many of us – 74%, in fact, according to a recent YouGov survey – believe that it’s wrong that a small coterie of individuals should run the world’s largest corporations, far fewer of us know how to challenge that status quo, however unsatisfactory. WeShop is founded on that shared belief – but instead of recognising an injustice but accepting it as an unfortunate but hard-to-change reality, its founders went away to develop a fabulously functional, all bells-and-whistles platform that democratises the world of retail by giving away over 90% of its business to those who really matter: the customer. Every time a member shops, the innovative new system allows the consumer to earn an investment in the company ‘with real monetary value as per the stock exchange with each purchase, successful recommendation or introduction of a new member to the community.’ Given that we are facing the worst cost of living crisis since 1977, it could not be better timed.
As they explain, ‘At launch, for every purchase made through WeShop the buyer gets back 20% of the value of their purchase in shares. The exclusive YouGov survey found that 87% of Britons spend average sums of up to £150 every month on online shopping (excluding online groceries). If they were to spend this amount on WeShop they could earn £30 worth of shares – giving members a simple way to grow savings they can then cash in for a treat, save for a rainy day, or use as an investment portfolio for themselves or their family’s future.’
Co-founder of WeShop Richard Griffiths says, ’The way we shop has changed dramatically in the last ten years thanks to rapid advances in technology. While we’ve seen the dramatic growth of online shopping platforms – and their profits – none of them are designed to benefit the people who keep them going, the shoppers.
‘That’s why WeShop was born, building a totally shoppable platform that is owned by the community. And to show we are serious we’re giving away over 90% of WeShop to the people who use it. We think that the potential of WeShop is gigantic and will have a massive impact on the world of ecommerce and online retail.
‘Imagine if Amazon had done this when they started, the wealth created by Amazon would have been shared amongst the people who made it successful, its users. Indeed, the world might look very different now, and that’s what we’re trying to achieve: a better, fairer and more democratised shopping experience for everyone.’
Download the app and start earning shares here.
May 2022
By Nancy Alsop
