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