Amazon dominates more than 20 percent of the fashion commerce market. This is good news for Amazon but its raw bile for other small firms in the lucrative fashion industry. Rising to the top might seem impossible for most firms but not for Fabletics. Fabletics stands as one of the few companies that are slowly eating into Amazon’s dominance of the fashion e-commerce market. Fabletics has managed to grow to a more than $ 250 million business within a period of only three years. This is a notable achievement for a firm with such a noble background. Kate Hudson, Fabletics’ executive, says that the secret to this achievement lies in the use of a different strategy.
Kate Hudson’s secret strategy to success is a blend of convenience and membership. Kate Hudson says that when you provide customers with a high-value brand in a convenient way, such as through member subscription, you easily win their hearts. Fabletics’ success can greatly be attributed to their use of a subscription mechanism for their high-value activewear products. This mechanism has greatly improved their customer satisfaction scores. Customer subscriptions have also created a pool of big data for Fabletics to use in decision making. This way it has been able to anticipate customer needs and respond to them.
Kate Hudson says that the traditional marketing approach employed by most firms in fashion commerce is not adequate. The strategy entailed firms offering customers high-quality products at competitive prices. Contemporary fashion consumers are conscious and want more value for money. This new breed of customers values items, such as the last mile services, exclusive design, brand recognition, membership, and outstanding customer experience. Apple and Warby Parker also use a similar positioning strategy and have reaped numerous benefits.
Kate Hudson’s take on growing the successful Athleisure brand
Athleisure apparel is one of the recent products unleashed by Fabletics. It is a casual clothing that can be worn both at the gym and in town. Within only one year, Athleisure apparel has grown to be a trend. This successful brand has acted as a beacon of hope and encouragement for Kate Hudson and her outfit, Fabletics. It is one of the achievements that she greatly prides in. Kate associates his success in this product to a number of factors.
One of these factors is being able to identify existing markets, and the other is reliance on big data in the decision making process. Kate also encourages entrepreneurs to take a hands-on approach and remain inspired to do more. On top of Athleisure apparel, there are numerous other brands that consumers can sample from. In order to get to know which product best suits their needs, customers are encouraged to take the lifestyle quiz on Fabletics page.