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Report: Mobile Innovation in the Fashion Industry
by Max Semenchuk
Content
1. Market overview
2. Market innovation
3. Tech innovation
4. Challenges
Max Semenchuk
CEO at Seductive Mobile – development for mobile and web apps for startups 11 years UXUI 6 years Product Management Speaker & Mentor in startup incubators Working with customer worldwide
Mobile context
• Frequent use • Short sessions • Small screen
• 33% come from mobile, only 10% from apps
The biggest growth in mobile commerce
Source:Riteomobilecommercereport
Higher conversion / check
Source:Riteomobilecommercereport
Mobile transactions by platform
Source:Riteomobilecommercereport
iOS
Android
MARKET INNOVATION
1. Socialization / Personalization
Malzee
ShopSpring
Keep
The Net Set
Stylect
2. Content / Shop the look
Stylezz
Villoid
Fashory
Smartzer
Stylekick
Polyvore
Covet Fashion
3. Stylist advice
PS Dept
The Hunt
Stylebook
4. Resale / P2P
Old Clothes, New Cash
Source:Bloomberg
Totalventurecapitalfundingformajorclothingresalestartups
Thread up
The RealReal
Vestiaire Collective
Tradesy
Poshmark
Slang
4. Fashion for rent
Armarium
Flyrobe
TECH INNOVATION
1. Computer Vision
ThirdLove
Modiface
Ditto
2. Machine Learning
Craves
ASAP54
3. In-store experiences with GPS / NFC
4. Wearables / IoT 5. Chat bots 6. Mobile payments
CHALLENGES
User Acquisition & Retention
• CPI is 2-4 times higher than CPC • Conversion is also higher, but if you can
retain
Test Monetization Early
• Metrics should be LTV, not installs • Focus on loyal users • ROI over Growth
High Product Expectations
• Vast competition • Shopping experience is crucial • Minimum lovable product over minimum
viable product
Development
• UXUI in priority • Analytics from the start • Iterative
Thanks! Any questions?
Max Semenchuk (fb, in) [email protected] seductive-mobile.com Find this slides at http://tinyurl.com/fashionmobile