In an industry where giant corporations control the market, it pays to be innovative and different if you want to succeed. For Fabletics, succeeding in the fashion market, of which Amazon controls 20 percent, took a whole new approach.
An Unconventional Approach
Fabletics takes a different approach to how it conducts different aspects of its business from customer experience to brand recognition. To start with, it is built on a membership model where customers can become a part of the brand. This, according to General Manager Gregg Throgmartin, allows the company to stay in trend and personalize its products and services. The very business model itself makes the brand trendy as it is unique, and membership encourages customer loyalty.
Fabletics also appeals to customers with its affordable prices. Exclusive fashion brands are usually characterized by high quality and pricing to match; critics argue that most of these brands are often overpriced. However, this is not the case with Fabletics as its products are of top quality and prices relatively affordable.
Fabletics has also found a way to make showrooms positive for its clients as well as itself. It often hosts events and showcases that resonate with its members and potential customers. To this end, most of the people who attend the shows are members who make purchases instead of looking for cheaper alternatives elsewhere. What’s more, about 25 percent of those who attend register as members to enjoy the benefits and guarantee the company’s long-term growth.
Keeping up With the Trends
Fabletics also bases its retail operations on a wide range of online data about their customers’ preferences and global and local fashion trends. Like Amazon, Fabletics has a huge presence online as much of its retail is conducted online. As such, it benefits from the internet’s ease of collecting and analyzing data and customizes its inventory to suit consumers.
To start with, it relies on buyers’ preferences to keep in trend. It also monitors the global fashion movement and tweaks its inventory to offer new products and services. Senior Vice President Dustin Netral also says that the brand often experiments with new designs that might appeal to its users’ preferences.
Fabletics has managed to grow a $250 million fashion business in just three years in spite of the odds against it. It has managed this partly by promoting the brand’s awareness both locally and nationally. To this end, it is planning further expansion of its online presence as well as brick-and-mortar stores.
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