Report: Mobile Innovation in the Fashion Industry by Seductive Mobile

Report: Mobile Innovation in the Fashion Industry

by Max Semenchuk

Content

1.  Market overview

2.  Market innovation

3.  Tech innovation

4.  Challenges

Max Semenchuk

CEO at Seductive Mobile – development for mobile and web apps for startups 11 years UXUI 6 years Product Management Speaker & Mentor in startup incubators Working with customer worldwide

Mobile context

•  Frequent use •  Short sessions •  Small screen

•  33% come from mobile, only 10% from apps

The biggest growth in mobile commerce

Source:Riteomobilecommercereport

Higher conversion / check

Source:Riteomobilecommercereport

Mobile transactions by platform

Source:Riteomobilecommercereport

iOS

Android

MARKET INNOVATION

1. Socialization / Personalization

Malzee

ShopSpring

Keep

The Net Set

Stylect

2. Content / Shop the look

Stylezz

Villoid

Fashory

Smartzer

Stylekick

Polyvore

Covet Fashion

3. Stylist advice

PS Dept

The Hunt

Stylebook

4. Resale / P2P

Old Clothes, New Cash

Source:Bloomberg

Totalventurecapitalfundingformajorclothingresalestartups

Thread up

The RealReal

Vestiaire Collective

Tradesy

Poshmark

Slang

4. Fashion for rent

Armarium

Flyrobe

TECH INNOVATION

1. Computer Vision

ThirdLove

Modiface

Ditto

2. Machine Learning

Craves

ASAP54

3. In-store experiences with GPS / NFC

4. Wearables / IoT 5. Chat bots 6. Mobile payments

CHALLENGES

User Acquisition & Retention

•  CPI is 2-4 times higher than CPC •  Conversion is also higher, but if you can

retain

Test Monetization Early

•  Metrics should be LTV, not installs •  Focus on loyal users •  ROI over Growth

High Product Expectations

•  Vast competition •  Shopping experience is crucial •  Minimum lovable product over minimum

viable product

Development

•  UXUI in priority •  Analytics from the start •  Iterative

Thanks! Any questions?

Max Semenchuk (fb, in) ms@seductive-mobile.com seductive-mobile.com Find this slides at http://tinyurl.com/fashionmobile