Nowadays, customers go for crowd-sourced reviews to determine whether or not they would buy a product. In fact, it would look stupid for an e-commerce store to sell online without reviews of the product they are selling. Therefore, to stay atop as an entrepreneur, it is paramount to study customer behavior and make every adjustment when necessary to lure more into buying from you.
Fabletics, launched in 2013, has since grown above 200% to $235 million in revenue. Still, it has more than $1million members in paying. According to Shawn Gold, who is the Corporate Marketing Officer of TechStyle Fashion Group, the high revenue is attributed to embracing the user reviews, or as he calls it, the crowd.
Through leveraging the prominence of reviews in the present age customer journey, Fabletics was able to power such rapid growth. The consumer reviews can lead to a higher customer acquisition, improved loyalty (LTV) not forgetting customer retention for a brand across all industries. In a business decision-making process these days, one has to factor in the power of online review. Before they make their purchase, clients first search for the firm online and had straight to read reviews to determine if they will buy from the store, or not.
Also, today customers will trust the online review as much as they would trust a personal recommendation from a friend. This is according to research by BrightLocal. Peter Holten Mühlmann who is Trustpilot’s Founder and CEO expresses that these days, trust is at an all-time low, and clients do not anymore trust traditional marketing methods, and would rather turn to online reviews. It is said, that with great reviews come great power.
To boost your revenue, ensure you have authentic and genuine reviews. They will among other things drive improved search engine ranking, attract more buyers and at the end boost your revenue. The smartest business strategy entails incorporating the reviews into the product offering.
Just recently a Fabletics first ever collaboration, with pop superstar Demi Lovato launch went down at the luxurious Beverly Hills Hotel. The event brought together, Kate Hudson herself, who was walking on the red carpet, various celebs, and paparazzi to celebrate the launch. Demi Lovato was heard expressing his love for Fabletics, and most importantly the cute clothes and what they stand for.
He adds that they not only empower women to be the best version of themselves but also make them strong no matter their color shape size or even age. He adds that since Fabletics was founded, it became just that. It is a fashion forward athleisure brand that is designed to be inclusive plus empowering. In just a paltry three good years, Kate Hudson and the team have been able to turn their startup to a staggering $250 million company.
As it stands, Fabletics currently has 22 retail stores and is planning to increase this number come 2017. Even bigger things should be expected in the next three years to come. But even with all this success, Kate Hadson isn’t yet ready to hang her boots anytime soon. For her, she loves to be an actor and will continue to be one through and through.