Super interesting read – I have seen ads too but wasn’t aware what the platform consisted of! In addition to the concerns that you raised about the business model and competitors, I have concerns about user retention. Because of the big celebrity names, I think it will be easy to attract customers to the platform and they benefit from free marketing, but will this be more of a novelty than a repeatable activity? After watching one cooking class with Gordon Ramsey will I really come back each month for more instruction? One possibility to combat this is, instead of offering one time videos, they could begin offering courses that would keep the user engaged over a longer period of time.
I agree with your concerns about the sustainability of the company. Particularly related to disintermediation because they are currently only capturing value from the vendor side of the marketplace. They will likely need to continue to add services or update their pricing model to incentivize both parties to transact on the platform. Additionally, because the platform is a local marketplace rather than a global one, it would be easier for a competitor to enter and begin to take market share from Wedding Wire.
Super interesting read and very cool that they are using AI & AR to help increase the value prop. I think it’s interesting that they are beginning to work directly with brands to launch shoes. I can also envision GOAT adding value for brands through all of the data that they have collected about the buyers and sellers of the platform. Brands are not likely to have any data on the re-seller customer segment and it could be extremely valuable inputs for pricing, inventory levels and future trends.
Interesting read Joe – I wasn’t aware of all these initiatives! There’s a great lesson here that the partnership route, particularly for companies that are have little competency in digital, is a really great option to kick start digital transformation. I think these efforts have been so successful because, despite being digital in nature, they are still rooted to the Lourve’s mission of enriching the experience and enhancing exposure of its art. I think its fantastic that the museum is embracing technology to increase the audience they can reach, since travel can be such a limiting factor. A potential next step would be utilizing VR to share the museum’s physical exhibits with those that aren’t able to be in Paris.
Great post! This reminds me a lot of the Nokia case that we did in class and in particular where we discussed how FUJI re-invented themselves through diversification. It would be interesting to hear Garmin’s leadership discuss whether this was architectural vs component innovation and how/if that would have changed their response. In addition to the alternative options you wrote about, I wonder if there could have been a successful partnering strategy with the large operating system providers to build the software together so they would have remained the owner of navigation without having to invest in application building.
Interesting read! I think the membership programs that have become increasingly common in retail are an interesting way for traditionally analog companies to begin to experiment in the digital world. There is clearly value on the table for both the company and the consumer so I can imagine it would be an easier internal sell than some other digital transformation projects. I wonder how Starbucks will continue to improve their application to build an experience that connections the physical and digital worlds for their consumers and differentiate against other big chain coffee shops.