Learning From Retail Disrupters
Be disruptive in class, and you might end up in the principal’s office. Be disruptive in retail, and you just might become the teacher.
That's the lesson traditional retailers will take away from a session during next week's Retail Marketing Virtual (RMV) Conference & Expo. Attendees of the session Retail Disrupters: Inside a Startup will be treated to a riveting discussion among four fabulous retail “disrupters” — i.e., those who have pushed the boundaries of retail so much that they’ll likely impact the industry as a whole.
The stars of this session are the true movers and shakers of the retail world, building innovative and exciting new companies from the ground up. They'll discuss their digital retail startups and how they’ve broken through the boundaries of tradition and shaken up the status quo in the retail industry. The disputers include:
- MaryAnn Bekkedahl, president and co-founder of Keep, a startup revolutionizing the way stylish women discover and shop for trending products across the web. Essentially, Keep.com is a shoppable Pinterest. Users create a profile, add the "Keep" button to their device (similar to the "Pin It" button) and can then "keep" any item that's for sale online. Instead of saving wish lists on individual sites, Keep enables users to save every item they lust after in one place.
- Katrina Lake, founder and CEO of Stitch Fix, the popular personal styling service. Here's how it works: Stitch Fix customers fill out a survey about their style and lifestyle, and that information is fed into a data-crunching system that spits out recommendations to Stitch Fix stylists, who select a final assortment for each customer. Then, for a $20 stylist fee, customers receive a personalized, five-piece assortment of clothing and accessories in the mail. Customers keep — and are charged for — what they like and send back what they don’t without any shipping charges. The $20 fee is subtracted from the order total if they choose to keep one or more items, but it’s still charged if they don’t like anything in the box. If a woman purchases everything in the package, she receives a 25 percent discount off the total.
- Shefali Khanna, co-founder and chief merchandising officer of DAILYLOOK, a premium online shopping destination that offers contemporary brands and curated looks, providing women with the latest street style-inspired looks that could be shopped from head to toe. Every morning, DAILYLOOK sends an email to members that showcases the latest fashion trends that have been styled expressly for them.
Attendees will learn what inspired these women to launch their startups; how their companies and business models are different from traditional retail businesses; and what traditional retailers can learn from their companies.