Results of a new study commissioned by inventory crowdfunding marketplace Kickfurther provide information on who actually uses the platform.
More than 70 percent of users (73 percent) are under 35 and 55 percent earn less than $75,000 per year. More than 30 percent have graduate degrees.
Kickfurther provides a unique opportunity because it works with companies who have experienced some initial success. Many such companies struggle to capitalize on those early results because they cannot obtain funding to increase production.
The solution is to let the crowd finance that growth by letting them purchase a slice of the future inventory. Many in the crowd have used those products and believe in them so they become brand ambassadors by promoting their sale at the Kickfurther store, their own site, their own customized Kickfurther affiliate store, or other locations selling that inventory. The inventory sells faster, so the crowd gets their consignment profit faster too.
“I founded Kickfurther because I struggled to secure a line of credit for my merchandising company, while my savings account was earning less than one percent,” Kickfurther founder and CEO Sean De Clerq explained. “With these insights I saw the opportunity to give typical income earners access to lucrative short-term profit opportunities by crowdfunding inventory.”
In preparation for posting a consignment opportunity businesses choose how much inventory they need, the profit earned by buyers, and the length of time they estimate it will take to sell the inventory based on prior sales figures.
In less than two years Kickfurther has funded close to $8 million of inventory in 291 consignment opportunities by more than 240 companies. Average user monthly consignment profit is greater than two percent.