It goes without saying that the internet leveled the playing field in many industries. Historically, only powerhouses dominated the economy. Those with enough money to advertise the most usually got all the customers. As the internet grew in popularity, smaller companies began reaching customers thousands of miles away.
Even more, customers found they had more power to determine high-quality products or services. Recently, every market began implementing review-centric marketing strategies. What’s been happening is customers review products and post their opinions online. Now, 84 percent of consumers use these online reviews as an important component in their decision-making process.
This means that power now belongs to the crowd. Those smart enough and savvy enough to capitalize on this trend are experiencing tremendous success. Fabletics, an activewear brand founded in 2013, grew into a $250 million company thanks to its embrace of customer reviews. It wasn’t exactly clear whether Fabletics would find success.
At the time, activewear wasn’t as popular and that particular market was already dominated by brands like Lululemon and Under Armour. Despite the huge disadvantages, Fabletics attracted over one million monthly members in its first three years. They’ve also opened 18 retail stores in major cities across the country.
Fabletic’s retail stores are doing better than most e-commerce companies’. Jumping from online stores to physical stores isn’t easy, but with the right strategies, it’s possible. The most important strategy these days is making the customer feel special. Fabletics does that in its stores and online.
Co-founder Kate Hudson takes great pride in the brand’s efforts to make all women feel and look their best. For her, it’s more than just on-trend fashion; it’s inspiration fitness wear. Her mission’s always been to inspire women to take their first step toward more active, healthier lives.
Inspiration plays a huge role in Hudson’s daily contributions at Fabletics. She learned from her mother, famed icon Goldie Hawn, that inspiration is the most important part of an idea. With inspiration, anyone can achieve any goal they set their mind to; and without, even the smartest people can fail. She watched her mother achieve the impossible and start a foundation that teaches mindfulness to children.
Along with inspiration comes taking risks. Opening any kind of business requires that at least one person be willing to take a risk.