Fabletics Competes With Amazon For the Top Spot
The fashion industry is very competitive considering the thousands of fashion brands in the market. The online fashion industry is equally competitive only that one company has had a long domination of the top spot. Amazon dominates 20% of the online fashion business. However, there is one company that is determined to challenge Amazon’s number one spot. Fabletics will not settle for number 2 and has come guns blazing to secure the throne of the online fashion industry. Fabletics is headed by TV superstar Kate Hudson. Under Hudson’s leadership, Fabletics has managed to grow her business into a $250 million enterprise in only three years. Fabletics secret formula is an initiative that allows clients to purchase clothes using a subscription model. The concept is simple: you just like a brand of your choice then enroll as a member of Fabletics.
Traditionally, brands were valued by looking at the quality and price of their products or services. The current trend is much different. Competitive brands now rely on more than quality and pricing. The coveted brand is a blend of other factors including customer satisfaction, gamification, unique designs, and brand awareness.
What Has Contributed to Fabletics Success?
Fabletics did not achieve its current position in the market out of chance. Like Apple, Fabletics went against all odds to achieve success. They applied a revolutionary business strategy that has contributed to the success of its sixteen affiliates.
Fabletics’ General Manager, Gregg Throgmartin, owes the prosperity of the company to its unique membership approach. According to Gregg, it is easy to satisfy people when you make time to study them and identify their specific preferences.
Fabletics Reverse Show rooming Approach
Show rooming is a marketing strategy that has ruined many businesses. However, Fabletics has somehow managed to turn the tides of this dangerous approach. Show rooming refers to a concept that allows people to browse through products or services offline then buy the same items at a cheaper price elsewhere. Fabletics managed to reverse the concept due to the unique style of their business. Their strategy enables them form new relationships, win the trust of clients, and understand the markets better. Between 30-50% of shoppers who walk into Fabletics are members of the company with another 25% gaining membership while at the store. When a client is shopping and they try on an item, it is automatically registered in their online shopping cart. Therefore, it does not matter where the client buys the item; retail is a significant part of their services.
How Does Fabletics Operate?
To gain access to Fabletics products, the first step you make is signing up as a member. During the sign up process, you will be taken through a survey to find out your taste of outfits. After you become a member of Fabletics, you are entitled to the benefit of paying as little as $25 per outfit. There is also a chance for you to receive incredible discounts for your purchases. One of the major perks of being part of Fabletics is that you get to have clothes that are curated for you every end of the month.