- The founders of ad agency Figiulo & Partners have recently launched Quiddity, a new product review site that will combine video, product details and "inspirational content" to create immersive experiences, according to a press release.
- The platform debuts with six product categories: meal kits, renters insurance, wireless headphones, mattresses, blenders and wearable trackers, with more to be added at a later date. Among the site’s features are buyers’ guides, product pages, articles and videos.
- Quiddity will challenge Consumer Reports and The New York Times’ Wirecutter with an approach that targets the shopping needs of urban millennials by bringing emotion to product reviews. The name ‘Quiddity’ comes from a philosophical concept about the essence of something.
Google has reported that consumers spend an average of 13 days researching products, while 58% of consumers use smartphones in-store to research products or look up product information, according to the Retail Dive Consumer Survey conducted last year. It follows that trustworthy product reviews and review sites are in greater demand than ever, and they must change to meet the evolving needs of new demographics and mobile shoppers.
Visual content generated by consumers, including pictures and videos, play a key role in consumer decision making, according to a study from Bazaarvoice, with 85% saying that such content helps tip the balance in choosing between brands. That is precisely what Quiddity is offering; about 85% of the site’s content is based on video, AdAge reported.
To satisfy data-driven shoppers, F&P has devised the Quid Score, a proprietary algorithm which combines four perspectives to guide purchase decisions: experts, customers, brands and the retail value index. For example, the top "Quid Pick" among immersion blenders is the KitchenAid 5-Speed with a Quid Score of 91, according to the website. The Braun Multiquick 5Hand Blender is second with a score of 89.
Quiddity provides several original video series on the site, such as "The Searchers," which follows couples as they journey on their paths to purchase. Another series is RECO, featuring experts rating and testing products.
Building a reputation for trustworthy reviews takes time, but Quiddity was developed based on an analysis of shopper needs and appears ready to dig in for the long haul. Funding comes from Mark Figliulo, founder and chief executive officer of F&P, who will eventually seek to raise more capital, reported AdAge. Quiddity also gets revenue from companies that pay to tell their own stories in a separate brand stories section, and offers the opportunity for editorial articles.