How to Start a Business Like Dupe.com

Dupe.com has been going viral on social media over the last few months. But there are still so many markets it doesn't serve.

June 27, 2024

Hey, thanks for joining for another week of New Venture Weekly.

I just bought a house and I’m now in the process of furnishing it. As a result, I’ve recently come across my new favourite website.

Dupe.com has been going viral on social media over the last few months.

It finds cheaper alternatives for more expensive products.

However, at the moment it’s just in the US, UK, Australia, Canada and New Zealand - but you could change that.

Let’s jump in!

💡 How to Create a Dupe of Dupe.com

🗂 Overview:

Create localised versions of Dupe.com to help people in other markets find cheaper alternatives.

You could create a version for:

  • South America - Market Size: $45 billion (e-commerce)

  • Germany - Market Size: $99 billion (e-commerce)

  • France - Market Size: $65 billion (e-commerce)

  • Japan - Market Size: $144 billion (e-commerce)

  • South Korea - Market Size: $80 billion (e-commerce)

  • China - Market Size: $1.3 trillion (e-commerce)

  • India - Market Size: $64 billion (e-commerce)

  • Brazil - Market Size: $22 billion (e-commerce)

  • Mexico - Market Size: $21 billion (e-commerce)

  • Russia - Market Size: $27 billion (e-commerce)

  • Italy - Market Size: $29 billion (e-commerce)

  • Spain - Market Size: $30 billion (e-commerce)

  • Netherlands - Market Size: $28 billion (e-commerce)

  • Sweden - Market Size: $12 billion (e-commerce)

  • Singapore - Market Size: $4 billion (e-commerce)

  • Malaysia - Market Size: $4 billion (e-commerce)

⭐️ Examples

Comparison sites have been around for a long time, we’re all well aware of them. But they are mostly for things like insurance, flights, tech, etc.

A tool like Dupe.com is fairly unique in that it finds like-for-like (or as close as possible) alternatives for furniture/clothing.

👎 Problems:

  • Cost Savings: One of the primary advantages of using dupe.com is the potential for cost savings. It helps consumers find cheaper alternatives to high-priced items, directly impacting their spending habits positively.

  • Access to Lesser-known Brands: It provides exposure to lesser-known manufacturers who may offer products of comparable quality but at lower prices. This can be especially valuable in markets dominated by big brands where smaller companies struggle to compete.

  • Price Transparency: Dupe.com increases price transparency in the market. By easily comparing prices, consumers can make more informed purchasing decisions, pushing for fairer pricing among competitors.

  • Convenience: It simplifies the shopping process by aggregating data from various sources, allowing users to access information on alternatives without the need to individually research multiple websites.

  • Market Efficiency: By facilitating easier access to a range of products and prices, platforms like dupe.com promote efficiency in the market. They potentially reduce monopolistic practices by offering alternatives that consumers might not have otherwise considered.

📈 Stats:

  • Global e-commerce sales are expected to soar, reaching $8.1 trillion by 2026, up from $5.2 trillion in 2021. (source)

  • Price comparison remains a crucial aspect, with about 74% of consumers indicating that price is a significant factor influencing their purchasing decisions. (source)

🗂️ Niches:

You’re also not just limited to clothes and furniture dupes.

  • Travel and Accommodations: Similar to existing price comparison tools, a more nuanced service could offer cheaper travel packages, flights, and lodging that match or come close to the offerings of more expensive options.

  • Software and Subscriptions: From professional software to streaming services, consumers could benefit from a tool that finds cheaper or free alternatives that meet their needs.

  • Cars: A tool that aggregates and compares all online car marketplaces in one to find the best deal based on a user’s specifications.

  • Professional Training & Certification Programs: Professionals seeking to enhance their skills could benefit from a comparison of course fees, ratings and materials across different training centres, universities and course providers.

🛠 How to Build:

1. Data Collection

  • Product Data Acquisition: You’ll need a robust system to gather product data. This can be done through:

    • Web Scraping: Automatically extract data from multiple e-commerce websites.

    • APIs: Use product APIs from major retailers to get product information.

    • Partnerships: Collaborate with online retailers to directly access their databases. Cheaper retailers might be more open to this than larger ones.

2. Development of Core Technology

  • Algorithm Development: Create algorithms to match similar products across different platforms and identify cheaper alternatives.

  • Machine Learning: Implement ML models to improve the accuracy of product matching over time.

  • Database Management: Use a scalable database to store product information and user data securely.

3. User Interface and Experience

  • Website and App Development: Develop an intuitive website and mobile app that are easy to navigate.

  • Search Functionality: Incorporate advanced search filters and comparison features to help users easily find products.

  • User Feedback Integration: Allow users to provide feedback on product matches to continually improve the algorithm.

4. Revenue Streams

  • Determine how your site will make money.

  • Dupe.com likely makes money through affiliate deals with online retailers but you could also sell ad placements, promote products/deals and even create a newsletter that sells ad placements in it.

🚀 How to Grow:

Here’s a good video breaking down their content strategy. And here’s a breakdown of how they generated 33m views in 8 weeks.

1. Content Marketing on TikTok and Instagram

  • Tutorial Videos: Create short, engaging tutorials showing how to use the site to find cheaper alternatives. Highlight specific examples to showcase the savings.

  • Comparison Videos: Post some before-and-after style videos comparing the cost of items found through your site versus their original price.

  • Influencer Collaborations: Partner with influencers who can demonstrate the effectiveness of your site in their shopping routines, reaching their audiences effectively.

2. User-Generated Content and Contests

  • Challenges: Launch social media challenges that encourage users to post their best finds from your site. Use a specific hashtag to track participation.

  • Testimonials and Reviews: Encourage satisfied users to share their success stories and how much they saved, boosting credibility and organic reach.

3. SEO and Content Strategy

  • Blog Posts: Write articles about budget shopping, price comparisons, and consumer tips that include keywords related to saving money, shopping smart, etc., to boost organic search traffic.

  • Guides and How-tos: Provide comprehensive guides on getting the best deals for various products, optimizing for search engines to draw in users seeking shopping advice.

4. Email Marketing

  • Newsletters: Send out regular newsletters featuring the best deals of the week, user stories, and tips on using the platform more effectively.

  • Segmented Offers: Use customer data to send personalized emails based on past searches and preferences, increasing relevance and engagement.

5. Strategic Partnerships

  • Collaborations with E-commerce Brands: Partner with e-commerce platforms to get exclusive deals for your site’s users, providing an incentive to use the platform.

  • Cross-Promotions: Work with budget bloggers, coupon sites, and financial advisors to cross-promote content that benefits both parties’ audiences.

🔥 Free Stuff

(Bookmark these)

🗞️ Things worth checking out

The best businesses solve specific problems. I’ve created an ever-expanding database of problems that are begging for a better solution.

Are you tired of wasting time and resources on business ideas that just don’t stick? It’s not because you’re not smart or hardworking - it's because you’re not focused on solving the right problems.

This database takes the guesswork out of entrepreneurship. Instead of sifting through endless ideas, you’ll have access to a curated list of high-potential problems that are begging to be solved.

Here's what you get:

  • Problems & pain points

  • Potential solutions

  • Competitive analysis

  • Research to back it all up

Benefits:

  • Focused Strategy: Direct your efforts toward problems with proven demand and strong potential for success.

  • Time Savings: Cut down on research time with ready-made competitive analysis and research.

  • Lifetime Access: As new problems and opportunities emerge, you’ll be the first to know, without paying a penny more.

🤯 Recommendations

TLDR News

Want a byte-sized version of Hacker News? Try TLDR’s free daily newsletter.

TLDR covers the most interesting tech, science, and coding news in just 5 minutes.

No sports, politics, or weather.

Bootstrapped Growth

The best strategies, tools & resources to supercharge your SaaS growth.

Every Tuesday, you get 3 marketing examples, 2 free resources, and 1 growth strategy breakdown.

How did you like this week's edition?

Login or Subscribe to participate in polls.

Please add any comments & feedback you have so I can improve future idea breakdowns.