Harnessing the Power of Consumer Wallets

I met with a founder who wants to help consumers make more educated purchasing decisions. She wants to empower consumers to drive impact through their spending. I’ve always been intrigued by solutions that help smaller players harness their collective power because I believe that individuals and small businesses can have a massive impact when their disparate actions are aggregated and focused.

Buying clubs and other organizations whose intent is to focus consumer buying power have been around for a long time, but they haven’t truly harnessed consumers’ power. Technology is now making it possible to do so on a whole other level, and it’s having a big impact. Robinhood, for example, empowered retail traders to sway the stock market—that could be the new norm.

A huge opportunity exists for founders to create solutions that help consumers harness the power of their wallets. They were nice-to-haves before, but I think they’ve become must-haves. Consumers have seen how powerful they can be when they align with others who are liked-minded, and they’re searching for solutions that help them do it more.