How Fabletics Has Benefited From Leveraging the Power of Customer Reviews to Dominate the Industry
Consumer purchases on various products are widely influenced by the “power of the crowd”. Today, customers tend to pay more attention to product reviews to finally influence their purchasing decision, and more so, trusting such reviews as though they were personal recommendations. Research has proven that trendy brands have been capitalizing on this rapid shift in consumer behavior to promote marketing strategies.
Fabletics has emerged as one of the most reputable brands capitalizing on the consumer shift based on their marketing strategies. Since its inception in 2013, the company has radically grown by over 200% to attain the $235 million mark in revenues generated from over a million of its members. According to Shawn Gold, TechStyle Fashion Group Corporate Marketing Officer, credits the company’s success to its open-minded customer base.
In essence, Fabletics has achieved an astronomical landmark by leveraging the power of customer reviews the current market. According to reliable statistics, consumer reviews directly trigger customer acquisition while customer retention solely depended on improved loyalty.
Are Customer Reviews Much Reliable?
Typically, today’s customer spends adequate time living s digital life while online reviews play an integral role in their final decision-making process. Often, people research various businesses before opting to purchase a product and even crowdsource various reviews before spending their hard earned money.
Positive Reviews contribute to Great Power
It’s common knowledge that authentic reviews boost a business’ returns. Not only do they improve search rankings but also attract more customers leading to increased revenue. Every effective business strategy incorporates reviews into offerings, just as customer service retains and attracts loyal customers leading to improved customer acquisition investment.
The Potential for Review Options
As customers seek more reviews, brands have been tapping into the economies of scale associated with large crowds. According to SeekingAlpha, accumulative reviews significantly grew by 26% while app users recorded a 22% increment.
Kate Hudson’s Impact on Fabletics Greatness
Kate Hudson’s celebrity status has undoubtedly contributed to Fabletics unprecedented success. Apart from just being an athleisure brand, Fabletics has stayed true to its core goal of empowering women to look and feel good regardless of their shape or size. With the aid of Don Ressler and Adam Goldenberg, the trio successfully turned an idea into a profitable business venture worth over $2 million. Kate Hudson’s immediately hit the ground running by being involved in the review of budgets and the identification of a social media marketing strategy.