Embracing Social Currency

Marc Jacobs Pop-up shop

Starting this Friday, February 7, 2014 Marc Jacobs will be opening a pop-up store in Manhattan for his fragrance Daisy.  However, unlike his other retail locations, products you want to purchase won't be paid for using money.  Instead, people will be able to leave his store with his products in exchange for tweeting, posting pictures on Facebook and adding photos to Instagram.  The new store will be named the Daisy Marc Jacobs Tweet Shop.  The idea behind this new pop-up shop is to embrace the concept of "social currency."  If you post photos or messages with the hashtag #MJDaisyChain, you will be presented with gifts when you exit the store.  The gifts that you can receive are: perfume, necklaces and purses.  The award for the best Instagram photo of the day will receive a Marc Jacobs handbag.

The whole reason for Marc Jacobs creating this social media based pop-up store is to reward those who have contributed to their considerable following on social media.  The whole idea for this store comes from a conversation that the Marc Jacobs brand had with Facebook.  The brand doesn't have a big following on Facebook, but the Daisy perfume is one of the most followed fragrance brands.  Additional perks to visiting the store include: free manicures, selfies in the Daisy photo booth and the ability to see the new line of Daisy products.

I found this article to be really interesting because I think that in the next 5 years this concept could become the new way to pay for products you want.  If you think about it, it is great for business because it promotes the brands products while allowing you to be rewarded with brand name gifts for helping to endorse the company.

To view the full article, click on the following link: http://mashable.com/2014/02/06/marc-jacobs-tweet-store/