Interesting article. I really love the idea of museums taking steps to improve the guest experience. I think another way this can be leveraged to improve experience is to arrange artwork in a manner that allows the best traffic flow. Often, a group will gather at one artwork, causing others to skip it or having to wait. A great experience to me would be minimal waiting time and ample personal space to admire works of art.
Interesting article. Proprietary brand data is still overwhelmingly popular these days. However, as more brands buy data from Poshly, the differentiating factor becomes how they interpret and use the data. I wonder if we will see brands who rely on surveys for customized experiences (i.e., subscription boxes) to up the incentives for customers in order to obtain proprietary data and attract brand investments.
Interesting article. VS certainly commands the majority of U.S. market share in lingerie and I have often wondered why there hasn’t been as many brands to enter the industry. I like the idea of paying attention to the littlest of details (i.e., model hand placement). I do wonder how many bras a person can have and whether a subscription model is the best for their business. There is also the matter of VS having an established brand and celebrity power. Quality or not, I think a lot of customers purchase VS for the brand name and less for the quality. I’m always rooting for the little guys!
Great article! I enjoy the concept and wonder to what extent Fiverr needs to control the tasks posted on its platform to prevent itself from turning into a Craiglist – full of spam and untrustworthy posts. I can definitely see this as a great way to get small tasks accomplished (i.e., putting together Ikea furniture :)).
Great article! I think it’s smart of Julep to capitalize on these beauty mavens because at the end of the day, it will be these mavens who purchase the bulk of the company’s products. So I don’t see self-select bias being an issue here. I do wonder if eventually the mavens will want a piece of the success. Similar to Kickstarter, contributors can tire of contributing with little or no return. Passion may carry these mavens so far, but if others offer incentives, will they stay and continue to contribute? Just some food for thought 🙂
I really enjoyed the article. This reminds me of the Lay’s Do Us a Flavor campaign, which also engages customers to create new chip flavors and also increase marketing and PR. What I love about the Pizza Mogul is the free marketing generated by users. I wonder if this campaign also serve to generate excitement within the company by allowing employees to own a stake in the business and have their own legacy within the corporation. Hopefully they implement this in the US! 🙂
Although I have never tried RTR, I have heard of its superb service. A friend ordered a dress that came broken the day before a party. RTR sent her vouchers, an apology note, and a box of cookies simply to say “Sorry!” However, too often I have heard similar stories about lack of quality control and delayed delivery. Given how important WoM is to the RTR business due to network effects, I wonder how long before the company suffers financially for its messy operations management. Furthermore, how will the company ensure people don’t show up in the same dress at events? I suspect RTR is already trying to resolve these known issues… Thanks!
It’s crazy to think back to Instagram’s debut on the digital scene. I still remember taking a test selfie photo and accidentally posting it on my Insta-feed! I believe Instagram has already begun to capture the value it initially created. For example, Instagram currently has sponsored ads that appear in an individual’s feed and takes a margin from the advertiser when users click on the content. Furthermore, Instagram has created opportunities for other companies to monetize and capture value. “Like to Know.IT” allows users with large followings to make money by linking items in their pictures to products available for purchase.
I have a friend currently working at Gilt and they are experiencing the same difficulties in maintaining their relevance in the market. As a past avid user myself, I used to wake up every day looking forward to discovering the new products on the site. In addition to the repeat items, I also became discouraged by the terrible delivery services, out of date inventory messages, etc. When I called customer service once, the company simply mentioned that the brand was at fault and didn’t deliver the products to said-eCommerce site on time. This shifting of blame was extremely off-putting. Interestingly, Hautelook has been trying to push its Nordstrom Rack business in light of these off-retail price sites declining.
I personally enjoy the Starbucks mobile app very much and frequently use it to purchase drinks at the stores. One challenge I can foresee is the difficulty in inventory planning at the store level to ensure each location is stocked with the right amount of ingredients to accommodate “the regulars,” “the passerbys,” and now, “the pick-ups.” Perhaps with time and of course, more data, Starbucks can better predict the ingredients needed at the store-level, but these days, I often ask for a featured drink and hear “sorry, we ran out of XX.” Another challenge is competing with other digital wallet services such as Apple Pay. Will consumers stick to brand-specific apps or move to a more general app once other brands are digitally integrated? For a infrequent Starbucks drinker like myself, I’m not sure the extra features are worth staying with the Starbucks app if there is a simpler and more comprehensive digital payment app for all things and may offer the same “loyalty” benefits (perhaps by a credit card company).
Working in retail for the past few years, I have heard Nordstrom being mentioned as the golden child of customer service. It’s great to see Nordstrom embracing technology and using it to improve customer experience. I think the company has done a great job of creating a useful app and integrating luxury and ease into the shopping experience. However, I still witness discrepancies between online and in-store availability (sizes or choices). In addition, perhaps due to the rapid supply chain / fulfillment center expansion, shoppers are experiencing more online cancelled orders (when an item appears to be in stock online but is actually out of stock). It is no doubt Nordstrom is a pioneer in digital technology, particularly in fashion. But it still has ways to go before the Nordstrom experience is truly seamless.
Great article! Domino’s has long been a great love of mine. From mid-afternoon to 2am cravings, Domino’s has been clutch on many occasions. I think the company has the advantage of being one of the first to incorporate digital technology. For example, you can currently text the [pizza emoticon] on an iPhone in order to get your pizza delivered. I wonder what kind of contract or arrangement, if any, Domino’s made with Apple and if they will retain the right to this feature. I also love Domino’s tracker – similar to Uber, by letting customers be in on the process, companies can better retain loyalty in the long run.