BuyersCircle appoints ex-Woolworths exec to lead ambitious growth plan
Former Woolworths marketplace GM Lance Eerhard has taken the helm of Australian social e-commerce startup BuyersCircle as its new CEO.
Eerhard takes the helm as the company reports a 28-per-cent month-on-month growth in turnover.
BuyersCircle is an affiliate marketing platform that allows consumers to open online stores using an app, to sell products to friends, family members and connections and promote recommended goods on social media platforms including Facebook, Instagram, Pinterest and TikTok.
Store owners manage what they virtually stock (from the BuyersCircle’s inventory), link to their store and recommend and share as they wish. Payment, delivery and logistics are managed by BuyersCircle and the store owner receives a commission on sales.
In a statement, the company said it expects to grow its revenue from $8 million last year to more than $150 million next year when it also plans to expand beyond Australia.
“My new role as CEO of BuyersCircle is very much centered around how we can take the platform to the next level and phase of growth,” said Eerhard.
“We’re building that next horizon of growth in the industry, which has yet to exist in this current market. The existing growth has come out of tapping into an unmet need and providing the market with products they just haven’t had access to before which has caused the growth to skyrocket over the past 12 to 18 months.”
Of Eerhard’s appointment, BuyersCircle chairman Siimon Reynolds said the company needed a CEO with strategic expertise to help steer the company’s growth plan.
Eerhard said the company would work to prepare to take the platform to another market. “Once we decide on the most strategic next step to really grow the brand, we will definitely work towards expanding internationally into look-a-like markets that capture the demographic we’ve had success with in Australia,” said Eerhard.
“BuyersCircle is truly the next step for our generation in the evolution of social-selling and I can’t wait to see where we go next.”