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| 1 Consumer and Industry Research Research & Insights October 29, 2012 Competitive Analysis

Retail Competitive Analysis

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Page 1: Retail Competitive Analysis

| 1Consumer and Industry ResearchResearch & Insights

October 29, 2012

Competitive Analysis

Page 2: Retail Competitive Analysis

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Summary

The MoMA Design Store, Opening Ceremony and Fab.com each integrate the designer’s stories behind their products into the online shopping experience through in-depth product descriptions, brief biographies, and quotes from designers or influencers.

The OC and Fab.com also offer expert product recommendations and unique promotions via official blogs and social media.

While Opening Ceremony looks to leverage social media to drive traffic to the brand’s site, Fab.com offers a unique, “live” browsing experience that fully integrates other social media platforms.

The MoMA Design Store offers a simplified, segmented experience on its site, isolating its social media pages and content.

MoMA could benefit from strategies employed by OC and Fab.com by leveraging sites like Twitter to drive traffic to momastore.org, enriching conversations around products through Facebook, and personalizing the shopper’s experience at the online store.

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Opening Ceremony

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Opening Ceremony.us adopts a multinational approach to retail in addition to stocking both iconic and emerging homegrown designers every year.

Opening Ceremony is a retail environment comprised of shops, a private label collection, and a showroom.

Each year, the unique commercial and cultural character of a visiting country is represented at OC by capturing the essence of the country’s consumer experience.

This year, OC's featured country is Korea.

OC transforms the shopping excursion based on four different perspectives--established designer, emerging designer, one of a kind vintage pieces and select items from the open-air markets.

Taking its name and mission statement from the modern Olympic Games, Opening Ceremony applies these elements of business and global participation towards fashion.

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Opening Ceremony’s Facebook page largely looks to promote products and drive consumers to the brand’s online store, blog, and live events.

The company’s Facebook page currently has 51,800+ fans, with 1,700+ conversations.

OC’s Facebook page promotes new products and events along with the latest OC blog posts, staff picks, fashion photos and reviews.

While customer feedback and support traffic is slow, OC is responsive to those that turn to the brand’s Facebook page for assistance.

OC looks to take advantage of their Facebook page’s “Notes” feature to post job openings at its various retail locations across the globe.

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At OpeningCeremony.us, customers are presented with the designer’s unique background as it relates to the product featured.

Users browsing OC’s online store can find out more details about the designer behind the product along with a series of relevant images on the product’s page.

On the OC blog, potential consumers can browse through bloggers’ favorite products and custom collections. Here, readers can also catch up on the latest trends and media related to this year’s visiting country.

Here, users can read more on Luciano Castro, the Argentinean designer behind the coat.

OC’s official blog posts custom collections and blogger favorites, here featuring the latest in Fall coats.

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Fab.com

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As of September 2012, Fab.com greatly boosted its user experience by no longer requiring people to sign up as a member to view products on the site

Visitors and consumers are now free to surf for products Fab.com, only needing to login to make a purchase.

Earlier, in December 2011, Fab introduced its “Live Feed”, which enables users to share what they are buying, liking, and tweeting on Fab.com.

Live Feed surfaces what products other Fab.com members are buying, liking, tweeting and sharing across the Web.

Fab.com made the live feed on this new feature completely opt-in. You can choose to reveal your username whenever you purchase something, or not.

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Fab.com Inspiration Wall — a public social mood board for sharing design inspirations.

Fab.com members get a public profile which shows all their design inspiration favorites (added and favorited).

Every product page has a Favorite Button and Comment Button. Favoriting a product adds it to the user’s Inspiration Wall.

Once added, users can see who else favorited the design, along with other images they have recently “faved,” or added.

Information about the product is automatically brought over to the Inspiration Wall when it is faved, including: The description, tags, sharing options, and counts of how many times it has been viewed, faved, and commented on.

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For various products and collections at Fab.com, users are presented with a brief story of the designer and summary of the spirit behind the collection.

For example, users interested in vintage items, furniture and apparel can browse collections at “The Vintage Shop.”

Here, users can purchase, browse, favorite, comment on, or share various vintage-style items to Twitter, Facebook, and Tumblr.

Every collection has a dedicated page that includes a short story and a quote from the makers or an influencer in the industry.

Users may feel more comfortable browsing Fab.com in this way, as they can better customize their shopping experience by being presented with only the product categories they are interested in.

The Archive collection’s dedicated page gives a synopsis of the brand and a quote from Founders Marianna Maurer & Nicole Tafur.

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Fab.com’s Facebook page posts multiple times per day that generate thousands of conversations by highlighting products and company-related media.

The brand’s Facebook page boasts over 247,000+ fans and 12,000+ conversations.

Fab.com’s Facebook page posts multiple times per day, that generate thousands of conversations by highlighting products and company-related media.

Fab.com is highly responsive on the brand’s Facebook page, deriving feedback from consumers and replying to customer-service and product-related posts to provide answers and solutions.

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MoMA Design Store

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Through the MoMA Design Store, the Museum extended its educational mission, exemplifying well-edited product design and curation.

The MoMA Design Store products highlight the latest in materials, production, and design concepts from around the world.

All of the products at the MoMA Stores are reviewed and approved by MoMA’s curators, some are represented in the Museum’s design collection, and many are MoMA exclusives.

The MoMA Store’s unique offerings include:

MoMA Membership Incentives: Shoppers can become Patrons of the Museum to receive discounts at MoMA Stores along with exclusive Museum-related benefits.

The MoMA Design Store Gift Registry: Shoppers can reflect their modern style and celebrate life’s special occasions with distinctive gifts from the MoMA Design Store.

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The MoMA Store online offers a conventional user experience for shoppers to browse across product categories and tag favorites.

Users can browse the MoMA Design Store products by category and create a private list of “favorited” items.

On product pages, the store includes an in-depth product description, a brief biography about the designer behind the product, and other recommended products.

These recommended products are generally unrelated to the current item the user is browsing.

The MoMA Design Store online could benefit from better curated recommended items on product pages and based on a shopper’s “favorited” items and past purchases.

The products recommended when browsing items designed by Alvar Aalto do not take into consideration the shopper’s expressed behaviors and tastes.

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The MoMA Design Store’s social media pages, while active, do not play an active role on the Store’s official site.

The MoMA Design Store’s greatest areas of opportunity lie in social media.

Users do not have any opportunities to share their favorite products publicly across social media beyond a Facebook “like.”

The official MoMA Design Store’s Facebook page, with 19,700+ fans, generates little conversation and almost no user involvement.

Despite a library of 20+ videos on Facebook, they are not easily accessible or well-promoted to garner views and traffic through sharing.

Further, the Store has not posted a video in six months.

On Twitter and Pinterest, the MoMA Design Store has just 1000+ followers despite consistent activity.

MoMA’s online social presence may be going unnoticed as they are not promoted on the official store site or across other social media platforms.

Better curated content as it directly relates to the MoMA Design Store along with means for shoppers to share their experiences across social media platforms may result in increases in their fanbase, followers and online conversations.

This video profile of designer Alexis Bittar’s line, while well-received, stands as one of the only videos of its kind in the last year.