Thank you for writing about this! I absolutely love Glossier and think they have done an incredible job building out their product line and brand so far for many of the reasons you list above. Even though competitors are starting to adopt similar strategies, I think Glossier has a competitive advantage in this space in that is knows how to speak and interact with its consumer better than most of its competitors. Glossier’s marketing is also differentiated from competitors in that it feels younger and more authentic than some other brands. Given this momentum, Glossier can continue to crowdsource and crowdsource well so long as it continues to keep the dialogue open with its consumers and listen to what they are saying.
On gaining high participation rates, I think the participation does not need to be qualified as diverse so long as it is large enough to be representative of their customer base. Additionally, by being a DTC brand Glossier can easily test small quantities of products and ask for feedback to test ideas before fully bringing larger quantities to market.
On your last question, I think the industry is ready for these technological advances in the next 5-10 years as our aging population becomes more comfortable and adept with using technology. On a personal note, I think of my grandma who right now is 98 and would (a) have no desire to wear a device like this and (b) would be unable to likely use it if it had to sync with a cell phone (she still doesn’t have one)! All that being said, I do think this adoption is more likely than other technology for the elderly population because caretakers will want to push this on to their loved ones more than they otherwise might like.
Great post – I was totally unaware that this was being done (though not surprising and it is fascinating). Despite the fact that it’s super cool, I’m not sure I want my jewelry to be made via 3D printing. Call me old school, but I like thinking that my jewelry is hand made or designed in small quantities but a specific designer – at least for those “special” pieces of jewelry. What material is used in making this jewelry? Does it feel premium or does it feel plastic-y? I’m sure my perspective my also change if I were able to touch and feel the jewelry too.
To answer your second question, I think this would definitely appeal to a certain group of individuals, and maybe even me one day, but I’m still skeptical about this in terms of luxury jewelry. Is jewelry a massive contributing factor to waste and the environment?
Super fascinating to think about, thank you for writing about this!
I love this concept and thinks its fascinating as our generation is looking to spend money and time more on experiences more than anything else these days, and this appears to be an immersive experience to the extreme. My guess is secret cinema’s main competitors are more interactive experiences – such as escape the room and eating in the dark – as opposed to going to an actual play. To your second question, I think the idea for original content can be created by crowdsourcing but that an exceptional piece of entertainment won’t be as unique if the whole play or movie is crowdsourced, but hey, I’d be happy to be proven wrong!
Great post! As someone who knows very little about both (a) additive manufacturing and (b) Ferrari, it was super interesting to read and learn about. I’m curious to understand whether the consumer of a Ferrari will view cars made with AM will be seen as superior or inferior to cars made the traditional way. Will cars made with AM be able to compete with cars made without AM? Furthermore, what will be the tipping point for the industry to change such that (if ever) all cars will have parts made with AM? I imagine that there will be some regulation (hopefully) to balance out companies that have money and those that do not.
Great post! On your first question I ultimately think that the cost of opening the stores will be insignificant relative to the future revenues that we would expect a store like this to generate. If you do the quick math, at $2,700 sales per square foot and 1,800 square feet, this store is generating approximately $4.9M annually. Furthermore, I’d expect the cost of technology to decrease over time as more stores are built and technology improves. For me, I think Amazon will need to be extremely strategic with its choice of retail space for these stores to work – in a world where I can get food and items delivered for free in the next 2-3 hours, why would I go to a store unless it is extremely convenient?