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social currency

Weekly Wrap-Up: Social Currency

Today, Mark Jacobs opened his Daisy fragrance pop-up store in Manhattan for New York Fashion Week. Called the Daisy Marc Jacobs Tweet Shop, consumers will be able to purchase products by using social currency. Instead of using cash, shoppers can send tweets, Instagram or Facebook posts using the tag #MJDaisyChain to receive a variety of merchandise.

Products range anywhere from perfume and necklaces to even purses. The lucky person who snaps the best Instagram photo of the day will win a Marc Jacobs handbag. Customers who stop into the Tweet Shop can also get free manicures and take a selfie in the Daisy photo booth.

The concept stemmed from the idea of thanking the Marc Jacobs fans who are constantly finding new and creative ways to show their affection for the brand. Lori Singer, group VP of global marketing for Coty Prestige was quoted, “over the years, the Daisy brand has built a considerable following in social media, and to us, the whole undertaking is a way to say a big thank you to the people who love Daisy and are constantly finding creative ways to show their affection for the brand.” This is a great way to create a buzz around a product as well as build customer loyalty for consumers.

Do you think social currency has a place in today’s commerce? Leave us your thoughts in the comment section or send us a tweet with your thoughts! @Serendipit 

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