Amazon was until recently a near-monopoly in the fashion e-commerce industry. Without a doubt, the firm has always been at the helm of the venture, matter of fact Amazon accounts for 20 percent of total sales online. Other brands have had to settle for the piecemeal, even though they are offering the same goods as Amazon.
Fabletics as a competitor of Amazon have had to dig deep to get a strategy of knocking off Amazon from the top spot. This has led to them posting tremendous revenue results. In fact in the short span, they have been active, they have already reached their set financial goals. Critics said that the path they took would not get to the height required to challenge their competitors in the robust industry. This pessimism has proved to be far from the truth as they have managed to hit over $250 million in sales consisting of women’s athletic clothing and other workout apparels.
How did they manage to get their right footing in an Amazon monopolized industry? They benefited through an excellent start. Fabletic’s marketing and customer service strategies have been the cornerstone of their success. By introducing a membership reward system, they have been able to retain a majority of their customers. Their reverse showrooming technique has also contributed a great deal to their extraordinary growth.
In a Fabletic’s mall, shelves are stocked with the latest designer apparels including leggings, tank tops, sports bras sweatpants, yoga pants and many more. Women from different locations line up daily to try the various attires available. They have managed to deviate from the traditional method of hiring sales representatives to convince the customer to buy.
Kate Hudson, a Fabletics Co-founder, has praised her venture terming it fulfilling. She was in the middle of her acting career when she decided to partner with Adam Goldenberg and Don Ressler, enthusiastic entrepreneurs. She has starred in the movie ‘’Almost famous’’.
The company is predicted to be on an upward trajectory in the growth curve. It rewards their customers through a loyalty point’s scheme. It also offers excellent discount on a customer’s product of choice.