Source: L2ThinkTank, Jan 2011
Small startups that thrive off of designs created by and voted on by everyday people were quickly disregarded, and instead the panel pointed to what is more of a curatorial model where the consumer has influence but not total control.
While probably a function of time, skipping over this everyday-person-becomes-fashion-designer model is actually quite fitting. Etsy may prove that anyone can become a craftsperson, but in the scheme of things, who has time to sift through mediocre designs before they find what they really want? It seems real impact (at least for now) will come from more of a curatorial model where big brands couple with influencers to drive sales.
This model jumps past the time consuming sifting process that consumers must suffer with startups like Garmz and FashionStake, and instead bets on the same curatorial faith that Google Boutiques is relying on for their revenue streams.
For Natalie Massenet, the extent of this new consumer voice is heard through Net-A-Porter Live, an emerging platform that cultivates conversation and tracks consumer purchases in realtime.
If negative user reviews are between five and 15 percent,” Galloway says, “Sales actually go up because it lends credibility to your brand.”
Social media and consumer interaction are integral to the way brands should think about doing business. As Galloway says “Advertising may be the tax that mediocre brands have to pay moving forward.”
- Min 15: Burberry personalization
- Min 27: Market data via Net-A-Porter Live