We live in a digital age – just face it. With that comes the reality that more and more, a business’s online presence can be a major factor in its growth. Todays’ consumer makes smarter purchases, usually utilizing online reviews to determine purchasing decisions. This behavior is known as crowdsourcing. Consumers in the digital age place a lot of weight on customer reviews, making them a direct driver in customer acquisition and retention for most brands.
Fabletics, by Kate Hudson, is one of the brands taking advantage of this new consumer behavior. Launched in 2013, Fabletics currently ranks as one of the 15 fastest growing internet stocks, with over $235 million in revenue. The company has managed to grow by more than 200%, thanks to its savvy, consumer review centered marketing strategy. Fabletics is one of few brands that embraces consumers reviews – allowing them to leverage the “power of the crowd.”
The Power Of The Crowd
A recent study from BrightLocal found that 84% of consumers trust online reviews as much as recommendations from personal friends or family. The same study revealed that over half of consumers research a business at least once a month, with 50% also stating they read reviews on a regular basis.
What Fabletics has done by incorporating consumer reviews into the product purchasing process has allowed them to gain more customer loyalty, increase customer retention and acquisition in just 4 years.
The bottom line here is that authentic, positive reviews equate to better business. Better business equates to growth and increased revenue – which is staying power.
Women Sweat Too
“The company is all about inspiring women and empowering them to be the best version of themselves, to be strong, and it doesn’t matter what shape, or size, or age. It’s just about empowering women and I love that.” – Pop star, Demi Lavato
Since she began her collaboration with TechStyle Fashion Group, Kate Hudson has worked to develop Fabletics as an all-inclusive, fashion-forward athleisure brand. Kate, along with Don Ressler and Adam Goldenberg, the founders of TechStyle Fashion Group worked to develop a brand that was authentic and something consumers could envision Hudson herself wearing daily.
Kate Hudson is not just the face of Fabletics. She has been involved with the process daily, reviewing budgets, social media strategies and even paying close attention to the design process to ensure the styles stay fresh. It was this commitment to quality and customer satisfaction that aided in the rapid growth of the brand. The company currently has over 1 million members, 22 retail stores, with a dozen still slated to open before the end of 2017. In only 4 years, the brand has managed to empower women all over the world to get active and look fabulous while doing it. For Hudson and Fabletics, the athleisure trend is not slowing down anytime soon.
Curious as to just how fab Fablectics would look on you?
Take this quiz to find out!