Fabletics is a booming business thanks to movie star Kate Hudson. The well known actress has helped the one time start up develop into a $250 million dollar enterprise. This mean Hudson and Fabletics are well poised to face fashion e-commerce giant Amazon. Amazon controls roughly 20% of the current fashion e-commerce market. Hudson has allowed the athleisure model to thrive in a crowded market.
Fabletics originated in 2013. The brand was initiated by Don Ressler and Adam Goldenberg. Their goal was the create an athleisure brand with affordable yet stylish designs. Goldenberg and Ressler brought in the once “Almost Famous” movie star to their brand. Hudson, who has since starred in many Hollywood films, was a natural fit. She speaks volumes about health and fitness. Hudson has always been trim and looks fit. She is also extremely stylish.
Kate Hudson also has star power. She also brings her knowledge about style to the brand.
She didn’t have a business background being a celebrity. That didn’t stop Hudson from helping Fabletics put their brand into another gear. Her voice has helped catapult Fabletics to the next level.
The company grew an astounding 43% from 2015 to 2016 with Hudson aboard. In 2016, Fabletics boasted a retail growth of 644%. The numbers are staggering but it seems the future may even be brighter.
Fabletics uses a reverse-showroom feature. They bring customers in to browse online. The company fosters that by allowing consumers to become members upon browsing. Many customers may buy elsewhere after browsing. Fabletics has found their customers are still purchasing their brand online and in house at retail locations because of this unique approach. Many consumers who walk in a retail location are already members of Fabletics.
Fabletics enjoys the tutelage of their parent company TechStyle Fashion Group. They utilize this to their advantage for online services and more. A dozen new Fabletics retail stores are expected to open in 2017. Hawaii, Illinois, Florida and California currently all have retail stores.
Rapid growth is expected across the board for Fabletics. The brand is also partnering with other celebrities like singer Demi Lovato.
Consumers are encouraged to take the Lifestyle Quiz to find out which Fabletics gear is best for you. The company wants each new customer to find their unique style in athleisure wear. That’s why Fabletics is starting to excel in a crowded market of sports and activity wear.
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.