Terrific, a white-label social shopping platform, has recently expanded its operations in Latin America. The company provides a live shopping tool that integrates with existing platforms of brands, marketplaces, and retailers. Terrific has partnered with several companies in the region, including Sears México, and has worked with brands such as Kappa, Levi’s, Puma, LG, Sansui, Samsung, Chicco, and América.
The platform aims to combine real-time interaction, personalized recommendations, and dynamic content to enhance the customer shopping experience. According to Terrific, their technology has helped some clients improve conversion rates and customer engagement.
Israel Grintz, Founder and CEO of Terrific, notes that the Latin American audience has shown a strong affinity for social commerce and has been quick to adopt new technologies in this space. The company is now inviting more brands, sports groups, marketplaces, and content distribution companies across Latin America to use their platform.
This expansion comes as social commerce continues to grow in importance in the e-commerce landscape, particularly in Latin America.
A Quick conversation with Israel Grintz
Mr. Grintz, Terrific has been expanding rapidly in Latin America. How do you distinguish between a passing trend and a real market opportunity in social commerce?
Social commerce is a natural extension of human behavior. We’re tribal creatures who enjoy doing things together. To ensure we’re building something for the long haul, we look for consistent patterns in user behavior and market demand over time. We rely on data analytics to identify these patterns and validate market opportunities through pilot programs and continuous feedback from our users. Trends are often short-lived and heavily driven by hype, while true opportunities show sustained growth and align with fundamental human needs.
Your press release mentions collaborations with various brands. What specific cultural challenges have you faced when adapting your business model to different Latin American countries?
Each country has its unique culture, consumer behavior, and economic conditions. We tailor our approach by understanding local preferences, regulatory environments, and partnering with local experts to ensure our solutions resonate with each market. For instance, in some regions, there’s a higher reliance on mobile commerce, which we’ve adapted our platform to support seamlessly.
How does Latin American consumer behavior in social shopping differ from other regions in the world?
Latin American consumers are highly engaged on social media and value interactive and community-driven shopping experiences. They often seek recommendations from influencers and peers, making live shopping events particularly effective. Additionally, there’s a strong preference for localized content and payment methods. The incredible affinity between the Latin audience and social commerce is undeniable. This audience has consistently been among the earliest adopters of new technologies and has shown the fastest growth in social media engagement for years.
Privacy is a growing concern in the digital age. How do you manage the tension between personalization and privacy on your platform?
We prioritize user consent and transparency. Our platform uses anonymized data to personalize experiences while ensuring strict compliance with privacy regulations. We continually update our practices to align with evolving standards and help our clients maintain ownership and control of their data.
What has been the most significant pivot in Terrific’s strategy since its founding?
Initially, we focused solely on live shopping. However, we expanded to include shoppable videos and comprehensive analytics, driven by customer demand for more integrated solutions that provide deeper insights into consumer behavior. This pivot was motivated by the need to offer a more holistic approach to social commerce. Additionally, our partnership in Latin America has been a game-changer, giving us a significant boost in the local market and connecting us with key players in the region.
The e-commerce landscape is constantly evolving. How are you preparing for a possible saturation of the social commerce market in Latin America?
We invest in continuous innovation and differentiation. By offering unique features like real-time data insights and AI-driven recommendations, we stay ahead of competitors. We also explore new markets and partnerships to expand our reach, ensuring we remain relevant and valuable to our clients.
Can you share a specific success story with a brand that significantly exceeded expectations?
Certainly. One brand saw over 40% conversion for customers who had abandoned their carts during a live shopping event. We helped shorten the decision-making time by providing real-time engagement and personalized offers. Another case saw a brand achieve a 200% increase in sales by leveraging influencer partnerships and creating highly engaging, interactive content.
Looking ahead, how do you envision Terrific in five years, and what steps are you taking to achieve that vision?
In five years, we aim to be the leading decentralized platform supporting e-commerce, social, and content companies globally. We want to be the building blocks and pipelines of the social commerce world. Today, we’re investing in AI, expanding our market presence, and continuously improving our platform. We also ensure we protect customer privacy and help our clients retain full ownership of their data. Additionally, our amazing partner in Latin America has provided us with a significant boost in the local market, helping us connect with key players and accelerate our growth in the region.
