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Fabletics: Implementing Technology To Draw In Customers And Make Online Shopping Easier

When it comes to notable names in the activewear industry, Fabletics is a company that has managed to stand out. In the few years that the company has been in business for, they have managed to beat some of the long-standing competitors in the field. Fabletics was founded in 2013 by Hollywood celebrity, Kate Hudson. Kate is widely regarded as a fashion icon, who also has a side that believes in focusing immensely on personal fitness. She decided to launch her brand of fitness clothing and leisurewear designed to be extremely comfortable, and fashionable. Today, Fabeltics stands out for being a brand that knows what women want from their gym clothing and believes in offering them something akin to that idea. The brand has broken records and has taken over the online shopping experience that one has when they go to buy clothing.

 

Online shopping has become one of the most sought after ways to buy clothing, but there is minimal scope for significant improvements to the experience that one has. Even so, the brand decided that it was something they would have to do to attract a large pool of customers. They wanted to make the online shopping experience as close to a real experience as possible, like the ones that people have when they physically visit a clothing store. To assist their customers with the process of shopping, the brand decided to give their customers something akin to a shopping assistant, to help them pick the right products to buy. To do this, the name integrated some of the most technologically advanced AI into their site. This AI is meant to read the customer’s shopping trends and offer them clothing options that they would like. When coming to buy clothing on the Fabeltics website, customers won’t have to scroll through hundreds of products endlessly. Instead, they are given options based on what they would potentially like. More often than not, this has helped customers find the kind of clothing that they would want to buy, which has turned out to be brilliant for the brand. They have managed to give customers a much better shopping experience that they would not be able to get elsewhere, which keeps the customer base of Fabletics growing.

 

For something as simple as the way customers buy their products, Fabletics wanted to do something unconventional. The brand decided that they would only sell their clothing through the online subscription system that they had in place. This system made it so that customers could receive sets of clothing every month in a few easy steps. Usually, people don’t log onto online shopping websites often because of their busy schedules and end up buying exceptionally rarely. This enables the customer to get the latest trends efficiently, and more efficiently, cutting down the time that they spend searching significantly. Because the brand knows that people come back to their store every month, they have made it a point to always have the latest styles on the market in their online store.

Fabletics utilize Crowd to leverage on the high number of social media users.

There is no doubt Amazon dominates the e-commerce market, especially the fashion market. The company has been very successful in selling high-quality clothes thanks to their access to top brands and efficient shipping services. Due to this, they can cut out the middlemen who make the prices of the products more expensive. This, therefore, makes it cheaper for individuals to buy from Amazon than buying from the stores. Some companies are already giving Amazon a run for their money. One such company is the Fabletics.

 

Fabletics is an activewear company that is subscription based. The company has achieved a lot of success since it was launched in 2013. Kate Hudson, a Hollywood actress, co-founded the company with her colleague. Kate has utilized her fame and her social media marketing skills to grow Fabletics, which has led to an average growth rate of 35%.

 

The company has utilized its ability to bring innovative ideas on board to retail stores via the sixteen stores that are spread across the United States. The firm has achieved a lot of success, and it is set to open some more stores in the coming days. Here are some of the major reasons why the company has been able to achieve immense success in a short time.

 

  1. Innovative data analysis

It is no longer a secret that most of the e-commerce fashion companies are using internet metrics to calculate their product offerings and create a marketing strategy. Fabletics activewear Company is doing this in an entirely new way. The company collects data from the people who shop online on their website and use to come up with unique products.

 

All the 16 fabletics stores collect localized data and use it to their stocking which helps them to reduce the number of products that sit on the shelves without being purchased. This has helped to increase efficiency for the company.

 

  1. The subscription-based program

This program has significantly contributed to the success of Fabletics. A huge number of the people who shop at the Fabletics stores are either current subscribers or future members. The company lets their members choose something in the physical store, and then they go home and purchase it online. This strategy helps to prevent showrooming which occurs when an individual visits a physical store and then goes home to look for a lower price from other stores.

 

  1. Provision of high-quality products at an affordable price

One of the main reasons why Fabletics has achieved a positive growth trend is due to the high number of returning clients. The customers who shop at Fabletics stores are assured of high-quality products at an affordable price.

 

  1. Marketing strategy

Fabletics has made significant changes to their advertising and marketing strategies. The company is utilizing crowd as their primary marketing strategy. Through this strategy, Fabletics has managed to get to millions of social media users to educate them about their products and their stores. This has significantly boosted their sales and also increased product awareness amongst their customers.

Chris Burch Discusses Ways To Become a Venture Capitalist

Chris Burch, the successful developer of the Burch Creative Capital venture capital company, recently discussed ways in which young professionals can begin a career in the venture capital industry. The businessman shared the fact that he is constantly bombarded with questions from young professionals regarding the true nature of the venture capital industry and the fastest ways to become a viable contender in that industry. Chris Burch has therefore given a brief statement to discuss the best ways for interested parties to develop and cultivate and sustainable career as a venture capitalist. During his discussion, Chris Burch stated that future venture capitalists should develop careers as entrepreneurs, build relationship within the business community, and share their knowledge of the industry with aspiring entrepreneurs.

Developing Entrepreneurial Careers

Chris Burch stated that the first major step toward becoming a venture capitalist is to become the owner of a business. This advise is quite an innovation in the venture capitalism arena. 50 years ago, future venture capitalists would have been advised to become bankers to develop relationships with the banking industry if they wanted to become venture capitalists. The current trend, however, involves businessmen who have already made a name for themselves through the success of their own personal businesses which they have built from the ground up. After having worked long and hard to develop a business and experiencing the effort and commitment that entrepreneurship entails, businessman are able to adequately choose other businessmen who possess the skills needed to successfully build a company and make wise investments in those businesses. For this reason, Burch suggests that future venture capitalists first become successful entrepreneurs.

Building Relationships Within the Business Community

Chris Burch also discussed the need for future venture capitalists to build relationships within the business community. As an entrepreneur, it is important for businessmen to reach out to others who are experiencing the same life challenges. By building relationships with other entrepreneurs, businessmen can create lifelong friendships and connections that will come in handy in the venture capital industry.

Sharing Knowledge With Aspiring Entrepreneurs

Chris Burch also emphasized the necessity for successful entrepreneurs to share their knowledge and skill with aspiring entrepreneurs. Burch stated that venture capitalism allows entrepreneurs to experience a full-circle career by making financial investments in start-ups that will possibly become iconic. The businessman stated that venture capitalists must not forget to also invest in the building of the entrepreneur’s character and must not forget to share his own experiences with newcomers to the business.