Fabletics is quickly becoming one of the strongest sports apparel brands. The company which was established the other year, 2013 to be precise has gained such huge growth, that other companies would only have in their dreams. In less than four years, they are already counting a net worth of about $250 million. They also boast of a yearly growth of approximately 35%. Now this is the type of growth that every company aspires to have. Fabletics therefore has been put on the list of companies to watch in the e-commerce market. The company thrives in a market that would be said to have serious hiccups and this is their secret.
If you are to buy something from Fabletics today, they would start off by requesting you to take a survey. This survey will help them know more about you and what you like. Fabletics also utilizes social media profiles to learn their customer’s preferences and needs. With this in hand, it becomes pretty easy for them to manufacture products that are appealing to their clientele. The result is increased sales and returns.
The e-commerce market is feared because most customers only go there to check out the current trends and what is in. they will then go to their local physical stores and buy the products there. This is what is called showrooming. If you are to build a successful e-commerce business, you need to learn the art of reverse showrooming. Fabletics own strategy to reverse showrooming is their membership program. According to their figures, 25% of the people who visit their website will leave as members.
Their membership program has been an effective way of ensuring that leads translate into customers. They have a fixed amount that is charged on every member, every month. But that is only if you don’t request to skip the month. If you do skip the month, nothing will be deducted from your credit card. For this reason, people are not afraid to become members. Besides, there is nothing to lose and when you decide not to skip the month, the odds are in your favor. You get huge discounts and are guaranteed of loyalty points- they are redeemable by the way.
The membership program might not be 100% effective. Some customers will choose to only buy once and the next time they will be looking in physical stores for similar products. For such, Fabletics has built physical retail outlets.
Price is one factor that determines whether people will buy from you or not. Sure, there are people who will wear the likes of Nike, even with their exorbitant prices, because of what the brand represents. But how about those who are not so much about the brand name but instead want quality at an affordable price? They will of course storm to Fabletics. Fabletics customers know that this is the home of style, quality and affordability.