Amazon’s success has prompted retailers in all industries to rethink their strategy. As of 2017, the e-retail giant is stated to have control of up to 20% of the entire e-commerce realm according to an article posted on Forbes. That handicap has not, however, discouraged the entrepreneurial spirit of investors like Kate Hudson. Kate and her business partners have created a fashion brand estimated to be worth a whopping $250M in the span of just three years.
Fabletics recently announced plans to open new physical offices. They currently have 16 stores nationwide. According to the GM of Fabletics, Gregg Throgmartin, the company’s momentous growth stems from among many other things, the fact that Fabletics offers high-end, high-value products always. Then, there are the affordable prices charged to consumers as compared to their closest competitors.
Fabletics isn’t like your regular business. No, it’s uniquely different in many ways. For instance, the enterprise has a strategy known as reverse showrooming. That innovation arose from the realization of how people have a tendency of window shopping for items in traditional brick and stone stores then once the consumers find something they love, they proceed to go ordering the goods from sites like Amazon.com.
That has hurt the revenues of the regular stores. Fabletics came up with an ingenious method to overcome that particular problem. They worked towards making personal connections with their walk-in customers. The strategy has seen their subscription numbers go up by close to 40%. The fashion boutique automatically adds any apparel the customer tried on to their online shopping cart for easier future reference.
How Reverse Showroom Techniques Work
In a bold new move, Kate Hudson’s brand uses algorithms to study the fashion trends of the consumers in particular locales. The algorithmic thinking is inspired by the raw data curated about the lifestyles of the consumers from their membership applications. The end-result is a scenario which culminates into a happy, satisfied client, according to Dustin Netral, the Senior Vice President at Fabletics. Implementing the reverse showroom techniques has been a costly undertaking. The costs, however, pale in comparison when juxtaposed with the outcomes of the endeavor. The fashion line continues to streamline its business model towards becoming a future billion dollar entity.
Teri, the lead contributor of A Foodie Stays Fit blog, sums up the pros and the cons associated with using the broad range of products and services provided by Fabletics. Teri offers excellent advice on how you can save tons of money on the monthly subscriptions. Check out the article and fill in the brief questionnaire to find out the fashion matches by Fabletics available to you today.
Fabletics is an American registered company specializing in fashion retail. It started operations in 2013. Consumers have the option of either purchasing the workout apparel from their physical stores or online. Adam Goldenberg, Kate Hudson, and Don Ressler are the luminaries behind this venture estimated to be worth $250 million. Fabletics started in 2013, and its headquarters are in El Segundo, California.