Discussions about the fashion industry thread

[cb200]

Etsy to buy apparel resale site Depop for $1.6B

The deal ticks key boxes for both companies — and begs the question of why a traditional retailer didn't snap up the Gen Z favorite.

www.retaildive.com

I have no idea how valuation works.

 

[StrangeJeremy]

I mean, obvious bounce is obvious. Any comp will look fantastic vs an abysmal year - so sure, a spectacular rebound in retail sales is coming. But is it more than a mechanical blip on a secular declining trend for b&m retail?

the author thinks retail is going to rise, but the name of this business model literally starts with the word "brick," very interesting

I've spent a significant amount of time agonizing over this, but what I've landed on is that B&M will always been a core component of selling apparel. The strongest data point I've had across my business, my former business, and client businesses over the years - customers want to come and see and touch and they are very vocal about this.

Everyone processes information differently and has different needs; and the folks that need in-person, real-time interaction aren't going away.

 

[clee1982]

You’re not selling jcrew basics though you have a niche store with niche product

 

[StrangeJeremy]

You’re not selling jcrew basics though you have a niche store with niche product

I believe a J.Crew basics store could thrive at scale if not buried in debt/PE/financial shenanigans AND if real estate costs become rational (aka not be assets classes inflated by idiots lying to banks).

 

[gdl203]

I've spent a significant amount of time agonizing over this, but what I've landed on is that B&M will always been a core component of selling apparel. The strongest data point I've had across my business, my former business, and client businesses over the years - customers want to come and see and touch and they are very vocal about this.

Everyone processes information differently and has different needs; and the folks that need in-person, real-time interaction aren't going away.

Yes I agree there will always be B&M stores for fashion and apparel. The sector is still in secular decline though - not ever going to zero, but invariably losing market share to e-commerce. There is a ceiling to this online market share, for sure, but I honestly don't know where it is. May be closer than we think?

 

[ValidusLA]

Yes I agree there will always be B&M stores for fashion and apparel. The sector is still in secular decline though - not ever going to zero, but invariably losing market share to e-commerce. There is a ceiling to this online market share, for sure, but I honestly don't know where it is. May be closer than we think?

A Lot of push even pre covid to create 3D renders of all garment patterns and tech packs.

Stores want to create virtual dressing booths. Where customers can theoretically create measured avatars to try on 3D renders of clothing.

I am personally leary of how popular this concept will be, but a lot of retailers pushing heavily for it.

 

[gdl203]

I think it can only become popular if the tools used are simple and accurate: an app that will accurately map the user's body by simply using a smartphone. Anything that requires more work or involvement will be unlikely to be adopted widely.

 

[StrangeJeremy]

I think it can only become popular if the tools used are simple and accurate: an app that will accurately map the user's body by simply using a smartphone. Anything that requires more work or involvement will be unlikely to be adopted widely.

We don't really even need the smartphone - I worked at a company that is now called Wair (https://getwair.com/) and the predicative capability is absolutely insane based on just height, weight, and picking body types.

However, people don't believe computers. I went on a crazy deep dive into virtual fitting around that time, and realized that at the end of the day, people trust people more than any level of tech.

Also - do you remember the Zozosuit?

 

[clee1982]

think there is always value to "put it on feel it out look at mirror", but not sure if it can work out economically. There are store dedicated for try on these days, if there is one for multi brand I would absolutely "try on there" but then probably still compare the cheapest available online before I buy anything.

so if you carry basic, just hard, if your product is unique, yea I can't cross shop on px only.

 

[gdl203]

We don't really even need the smartphone - I worked at a company that is now called Wair (https://getwair.com/) and the predicative capability is absolutely insane based on just height, weight, and picking body types.

However, people don't believe computers. I went on a crazy deep dive into virtual fitting around that time, and realized that at the end of the day, people trust people more than any level of tech.

Also - do you remember the Zozosuit?

Size and fit is subjective so any of those predictive tools is limited in that respect. Doesn't deal well with oversized silhouettes or people's preferences for fit.

Avatar-based sizing tools allow users to visualize the garment on "them", in theory. But it needs to be ultra-simple to participate or the adoption will only be for fringe customers, not most users. Zozosuit is a good example (they came out with a better zozosuit 2 now!).

The Zozomat is perfect in theory for buying the right shoe size but people need to procure the mat, which is too much of a hurdle.
https://zozo.jp/zozomat/

Come up with a Zozomat app that only requires you to take a video of your foot next to a credit card or something like that, that everyone has, and the hurdle is very low. With free shipping everywhere all the time, consumers don't really care to be right on first try, but make it super easy for them and they'll at least try

 

[StrangeJeremy]

think there is always value to "put it on feel it out look at mirror", but not sure if it can work out economically. There are store dedicated for try on these days, if there is one for multi brand I would absolutely "try on there" but then probably still compare the cheapest available online before I buy anything.

so if you carry basic, just hard, if your product is unique, yea I can't cross shop on px only.

Something to remember, even for stuff you *could* buy online: getting it now with good service is very, very powerful for a large segment of the population. I'm lucky in that I have a very good hardware store I can walk to, and I don't even bother price-shopping when I know I can just go snag what I need AND get a little break while doing so.

There's always price-centric customers who are time-rich, in that they can afford the time go run down something from a Japanese proxy or spend hours to save $100.

 

[StrangeJeremy]

Size and fit is subjective so any of those predictive tools is limited in that respect. Doesn't deal well with oversized silhouettes or people's preferences for fit.

Avatar-based sizing tools allow users to visualize the garment on "them", in theory. But it needs to be ultra-simple to participate or the adoption will only be for fringe customers, not most users. Zozosuit is a good example (they came out with a better zozosuit 2 now!).

The Zozomat is perfect in theory for buying the right shoe size but people need to buy the mat, which is too much of a hurdle.
https://zozo.jp/zozomat/

Come up with a Zozomat app that only requires you to take a video of your foot next to a credit card or something like that, that everyone has, and the hurdle is very low. With free shipping everywhere all the time, consumers don't really care to be right on first try, but make it super easy for them and they'll at least try

Fit preferences were the deal killer for Wair. Can't predict that at all!

The tools for determining size from comparison as in your example have been around for at least 5 years. Worked on one of those as well.

 

[clee1982]

Something to remember, even for stuff you *could* buy online: getting it now with good service is very, very powerful for a large segment of the population. I'm lucky in that I have a very good hardware store I can walk to, and I don't even bother price-shopping when I know I can just go snag what I need AND get a little break while doing so.

There's always price-centric customers who are time-rich, in that they can afford the time go run down something from a Japanese proxy or spend hours to save $100.

definitely agree, but better be close enough not to care, most consumer are quite price sensitive, especially for basics, the hurdle to search for basics is also nearly zero, you could try on, while still in the store, "google real time".

 

[gdl203]

The tools for determining size from comparison as in your example have been around for at least 5 years. Worked on one of those as well.

I'd be interested in what these are. I've seen numerous half-baked solutions but have not encountered one yet that is intuitive, easy and accurate

 

[StrangeJeremy]

I'd be interested in what these are. I've seen numerous half-baked solutions but have not encountered one yet that is intuitive, easy and accurate

None of them have gone anywhere for the reasons you've listed, and the more times people try to launch bad products like this, the less trust the public has in their efficacy and so on.