Thoughtful fulfills a previously untapped opportunity in the social commerce market: Offering high-quality, unique gifts to consumers and risk-free opportunities to merchants. A study conducted by analyst firm the Altimeter Group showed that the social commerce market is set to grow exponentially in 2011. While only 20 percent of businesses had a social commerce strategy as of late 2010, 86 percent plan to implement a strategy this year. Additionally, by offering its service as an iPhone application as well as a web, the company is taking advantage of the current consumer trend of shopping via mobile phones – according to a survey by Oracle ATG, 41 percent of consumers aged 18-34 say they use their mobile device to complete purchases of products and services.
Jamey Baumgardt Tim Low $25
Tyler Davidson Seattle
While "daily deal"-type sites continue to gain momentum, Thoughtful enables businesses to maintain their brand integrity and avoid over-extending themselves by focusing on quality gifts over discounted pricing. Thoughtful works one-on-one with merchants to set parameters and guidelines around their offerings (quantity available, price, etc.), enabling them to reach a geographically and demographically targeted consumer base. Thoughtful also provides analytical capabilities to merchants, allowing them to actively track the number of gifts sold, progress against goals, etc. Analytical capabilities will continue to expand as the service moves out of beta.
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