E-commerce is a popular way of doing business today. All types of pop up stores show up everywhere and so few of them survive after a couple of years. Amazon controls about 20% of the E-Commerce market but that is no match for Fabletics. Fabletics specializes in athleisure wear. Athleisure wear is a strongly growing trend and many companies are hopping on the bandwagon. But Kate Hudson had another vision. She didn’t want her prices to match the competitors. She didn’t want to cater to just one individual’s style or shape. She wanted to create quality products at prices consumers can afford.
The company has been holding strong for almost four years now. And during their four year span, the company’s revenue has reached $250 million annually. And their sales have increased 43% in the year 2016. This is a great feat in a world surrounded by athletic brands that are on the market right now. Fabletics operates their business by using a subscription service. This subscription service is what allows the company to have insight on what each consumer wants and what their lifestyle is like. By taking the data given, the company can personalize each individual’s experience offering them exactly what they are looking for.
Whether they purchase items from a physical store or purchase it online makes no difference to Fabletics. If a consumer tries something on in the store, it automatically goes to their online shopping cart. So if they don’t wish to purchase it right then, they can purchase it online at a later date. Fabletics keeps up with the trends of their consumers and they take the data given to keep all items in the physical store on point with the demands, as well as keep the online virtual store on point too.
Kate Hudson offers advice to all upcoming businesses. She speaks of five tips that will make the company successful. The five tips are marketing opportunities, stay hands on, take risk and believe in yourself, thrive on inspiration, and rely on the data. What she means by these tips is to look at the market niche as a whole and when an opportunity arises, act on it. Businesses also need to rely on data so they know what is working from week to week. And no company can survive without the inspiration behind the product. And businesses need to continue to stay hands on. This keeps the business in the loop on what is going on with each of their products.