Nowadays, consumer purchasing trends are highly determined by the power of the crowd. Most of the consumers search for crowd-sourced reviews before they decide on purchasing products from an online or a motor and brick store. Consumers trust the crowd-sourced reviews to be testimonies from other consumers who have purchased and tested the products. The reviews, therefore, serve as a personal recommendation from other consumers. Some brands are capitalizing on the changing consumer trends in review-centered marketing strategies to push their products to the market.
One of the savvy brands leveraging the power of the crowd is known as Fabletics. Fabletics was launched in 2012 and since its establishment; the company has taken the competition to the doors of e-commerce giants such as the Amazon. In the last five years, Fabletics has grown its annual returns by over 200 percent to hit the $235 million mark in 2016.
Besides, the company has utilized the review-centric marketing strategy to grow its clientele base to more than one million active subscribers. Fabletics originates from Techstyle Fashion Group, the Fabletics parent company. Shawn Gold, the corporate marketing executive at Techstyle credits Fabletics success to embracing the power of the crowd.
The company has grown drastically over the last few years by leveraging the power of the crowd. There is no doubt that consumer reviews play a significant role in increasing customer acquisition, customer retention, and improved customer loyalty.
We are living in a digital area where billions of people can access the internet. A significant number of consumers nowadays shop for their products from online stores, which are much cheaper than the brick and motor stores. Therefore, online reviews play an significant role in the consumer’s decision-making process. A consumer can either purchase or turn away from a product based on comments from other customers.
Most of the consumers research about companies and brands before they can purchase their products. They read the reviews on the company’s websites and other reviewing websites before making their determination.
Figures don’t lie
A recent study on consumer trends reveals that 84 percent of consumers trust online reviews as much as they trust personal recommendations from the people that they know. These figures have been increasing every year since the survey was conducted.
One of the main reasons why consumers look out for online reviews is because trust on brands is at an all-time low. Consumers’ no longer traditional advertising as they used to a few years ago. Since they no longer trust a word from the manufacturers and suppliers, they look for opinions and feedback from other consumers.
Kate Hudson’s involvement in the company
Kate Hudson has been part of Fabletics family from the beginning. Kate Hudson has utilized her influence as an actress to market the company. She is a renowned fashion icon, so it was easy for her to convince consumers to purchase Fabletics activewear.
Although Kate Hudson had no background in business, she embraced Fabletics whole-heartedly. She is determined to make Fabletics the premier e-commerce fashion company. She was thrilled with winning the athleisure brand and she is committed to working harder to push Fabletics to greater heights.
Fabletics is a brand formed in 2013 that has experienced tremendous growth within a short time span. This success has been credited towards the consumers or the crowd endorsing the products.
More specifically, the reviews given by the people using the products has been its driving force for the past four years. Reviews have become more important to a company’s reputation than perhaps even their marketing strategies like billboards and television commercials. People trust the reviews of others in order to help them decide the best product to purchase. It has in fact been proven that consumers read reviews regularly about business and products even more so than the price. This has been adopted as a marketing strategy by placing positive reviews on websites so that people would be more willing to look deeper into it.
As the reviews get better, business becomes more profitable. Positive reviews can generate higher rankings on search engines like Google, Walmart and Amazon so the business is easier to find online. Good reviews also mean increased revenue for businesses. Consumers would be far more willing to spend on a product if it is praised highly than one that is given average ratings.
Reviews are a way of helping a business engage with its clients and that is a strong point of Fabletics. They actively engage with their customers to ensure the highest satisfaction, and this helps to build a more solid base of repeat customers. When the service is satisfactory, people are more likely to come again and pledge more loyalty to the brand.
In an era highly oriented on the phrase “The customer is always right”, this is the vantage point that Fabletics has over other competitors. Their goal is to produce products by the people for the people. They place emphasis on the fact that it would be impossible to adhere to consumers’ requests and improve their lives without knowing exactly what is needed, and that involves truly getting out there and understanding the global trend.
This is why when Fabletics was still in the process of being created, they realized they needed someone who would carry that notion forward to the public and Kate Hudson came on board as a founder of the athleisure brand. Though being an actress with no real business knowledge, Kate ensured she brought her best to the table to make sure that the products being delivered were beneficial, profitable and affordable for public consumption.
Kate has worked incredibly hard to see to the success of the company. Her day job as an actress has provided her with knowledge and experience in the online fashion world to create products that she would personally endorse by wearing them on her trips to the gym.
Interested in the Fabletics brand but with no clue as to which gear would be best for you? No problem! You can take an online Lifestyle Quiz from their site that is tailored to give you the best fit for your athletic needs.
Bringing a fashion company to light is a difficult process. Not only are there the dozen obstacles of starting and running a business, the fashion industry not a place for the weak. Currently, Amazon, a company that doesn’t even produce fashion, controls 20 percent of the fashion e-commerce market.
Despite the challenges, Kate Hudson exploded onto the scene with Fabletics. Fabletics is a brilliant activewear brand. Within the first three years, Kate grew her company into a $250 million business. Fabletics uses a subscription mechanic to cater to each individual. Fabletics combines aspirational designs with convenience and membership features, making a powerful combination.
Another part of continuing Fabletic’s growth is mastering the art of high value. High-value brands used to be based on price and quality of the goods or services. As the economy shifted, giving more power to consumers, price and quality are no longer the sole determining factors. These days, people want more from their brands. The modern consumer wants things like better customer experience, last-mile service, and brand recognition.
Fabletics has also expanded into the physical world. The company’s strategy of opening physical stores is paying off big time. Even though it’s membership brand, it’s already planning on adding to its 16 stores.
The only obstacle stopping its immense growth is referred to as “showrooming”. People love shopping around in stores, but never buying anything until they get home and buy the products they want from somewhere online for cheaper. That’s one element of today’s economy that’s “killing” a lot of retail stores.
To combat that negative, Fabletics embraces the surrounding communities. By hosting events and other activities, Fabletic’s stores can get to know the local markets and build relationships. This allows each store to only stock their inventory with items that local members might buy.
In one non-sponsored reviewer’s opinion, Fabletics is totally worth it. The best part is the unexpected quality of a pair of leggings. Fabletic’s leggings easily rival that of a pair of Lululemon Underwunders, which are expensive. Fabletics has wonderful prices for every product available.
Anything that isn’t selling well on Fabletics is taken down immediately. Member also can skip membership payments for the months they don’t want to buy anything. If anyone is interested in checking out what Fabletics has, take their lifestyle quiz.