Consumer purchasing patterns are increasingly influenced by the power of the crowd. Most customers prefer to examine existing reviews to make final purchasing decisions. The customers trust the existing reviews as a good recommendation on the products they would like to purchase. Since the launch of Fabletics in 2013, the brand has grown steadily by more than 200% generating more revenue. Fabletics has steered its rapid growth on its customer reviews translating it into loyalty, customer acquisition, and retention for its brands nationwide.
Most consumers in today’s world lead a digital lifestyle. Consequently, online reviews play a major role in business. Clients prefer to research business on their smart phones and computers before making purchasing decisions. A recent study by BrighLocal study shows that 84% of people believe in online reviews just the same way they trust personal recommendations from their close circle. This number has increased steadily over the last couple of years.
Consumers do not trust advertisement like they used to. This is probably due to the existence of exaggerated ads that raise the customers ‘expectations, but when they finally sample the good and services, they end up disappointed. Customers prefer to place their trust on other people’s opinions. Consequently, the best brands in the market understand this and do not fail to leverage it as a technique to push up their sales and boost competition.
At least 50% of consumers review products and negative responses cause 60% of customers to opt for an alternative to the product. Most brands like Fabletics prefer to include reviews on their website, and more companies have joined the trend over the years. Customers mostly check for the comments on the quality of products and the prices. These are the main factors upon which they make their purchasing decisions. Research shows that there are more searches on the quality of products than prices, meaning that most customers value reviews more than the prices of commodities. Reviews are useful to all firms including Fabletics.
According to Kate Hudson, the partnership of Fabletics with Techstyle Fashion Group has significantly contributed to its growth. The parent company has experience in online fashion, and thus Fabletics has an opportunity to share the resources of the company thus minimizing on cost for developing its online brand.
Kate Hudson also reveals that another secret for the growth of Fabletics is their data based approach to business. From the data, they know what customers are discussing most on social media and the feedback with regard to the quantity, quality, and pricing of their products. This allows them to respond to the customer’s concerns in real time.