In the age of digitization, leaders in the marketing industry have a wealth of resources in which to reach consumers with. As a matter of fact, online marketing strategies such as crowdsourcing are putting advertising agencies out of business because traditional methods just cannot provide the vast resources and innovative ideas that the internet has to offer. Through the use of “power of the crowd” strategy, businesses have seen great growth in terms of capital and overcoming obstacles. Crowdsourcing is an application of requesting feedback, ideas and advice from a large group of people on the internet for any specified matter. As a result, an increasing amount of businesses are turning to technical enterprise. One company that is greatly utilizing this source is Fabletics which is owned by Adam Goldenberg, Don Ressler and actress Kate Hudson.
Fabletics is an online fitness apparel store that combines style, comfort and cost effectiveness in their design approach. In 2013, when Fabletics was established, there was a great need for a way to purchase decent fitness apparel with the convenience of not leaving the home. Adam Goldberg and Don Ressler capitalized on this and today Fabletics has over a million subscribers and its worth value in capital gains is approximately $235 million. Consumer reviews are vital to not only word of mouth recommendations, but in today’s economy determine whether a consumer will purchase a product or not. Fabletics has earned a powerful brand allegiance from many people due to the large amount of positive feedback on their website and other media outlets such as YouTube.
Consumer feedback greatly affects a company’s financial bottom line by fostering search rankings and purchase transactions. Fabletics intentionally integrates consumer evaluations in their advertisements to drive lucrative sales and compelling motivation to purchase. A benefit that results from this practice is it ensures brands of being straightforward with their clientele. The Fabletics e-commerce store uses an innovative analytics program that helps customers better locate the apparel they like through survey evaluation, previous purchases and preferences. In this way, Fabletics can increase specified manufacturing production of their designs based on what is trending in current sales. Kate Hudson, who also acts a designing associate, can use data sourcing when creating up-and-coming apparel. According to their website, when Kate has submitted a design it takes just fifty six days to go from paper to floor and factory warehouses.
Fabletics has a huge array of merchandise selections and continues to frequently add to their stock. This year alone, the company introduced menswear, fitness shoes, swimwear and lifestyle dresses for women. They’re over twenty two brick and mortar stores to purchase their apparel in and more are expected to be built in the next decade. The following list of locations is just a few of the stores projected places of establishment.
- Bloomington, Minnesota: The Mall Of America
- Las Vegas, Nevada: Summerlyn Mall
- Woodland Hills, California: Topanga Village Mall
- Charlotte, North Carolina: South Park Mall
- Denver, Colorado: Cherry Creek Shopping Mall