Abandoned shopping carts are quite simply costing retailers money. This is a problem that doesn’t play favorites; no online retailer is spared from the plague that are abandoned shopping carts. Well, all except for one. A new mobile fashion app and website is seeking to end the maddening practice — at least for retailers — of consumers filling their carts with product, proceeding to the checkout page and then summarily leaving without making a purchase.
Shortly after graduating college, entrepreneur Vishaal Melwani experienced a pivotal moment in his career: he walked into a Men’s Wearhouse in New York City.
Say you’re a busy woman who doesn’t have time to shop for clothes. Wouldn’t it be great if you had a personal stylist who mailed you five pieces of clothing, specifically chosen for you, and you were given the option to buy what you liked and mail back what you didn’t in a prepaid envelope? Sounds like a dream come true, right? Well, that’s the business model behind Stitch Fix, a San Francisco-based startup that’s equal parts technology and retail, and has largely grown by word-of-mouth from women who love the service.