80% of Women Don’t Like Shopping
By Emma Sharley
A recent study* by fashion-tech entrepreneurs Kelly Slessor and Emma Sharley found 80% of women don’t like shopping.
WHY? DUE TO THE TIME IT TAKES, OFTEN THEY CAN’T FIND THE RIGHT FIT OR STYLE, AND THE PAIN OF HAVING TO RETURN ITEMS.
Most women have 5-8 go-to fashion brands in their wardrobe – and what they want is to be able to shop from their brands, with recommendations on what they should be buying based on their style, shape and preferences.
The duo also found out that;
- 80% of women believe their personal style is directly linked to their professional/personal goals
- More than a third feel they have been overlooked for professional opportunities because of their style
- 40% have turned down invitations or felt anxious about going to an event because they didn’t have the right thing to wear
- 60% believe that their personal style doesn’t accurately represent who they are
- Up to 50% of online fashion purchases are returned
From the retail side, there’s an opportunity to improve the current shopping experience, not only for shoppers, but also for retailers. Although 60% of traffic to a retailers’ site comes from mobile, the percentage of women buying from their mobile is extremely low. Most mobile experiences are slow, difficult to navigate and overwhelming, offering way too many options.
“Type “white dress into Google, and you get 186M results,” says Kelly.
ENTER SHOP YOU
A personalised shopping app matching you with brands that suit your size, style and preferences, using artificial intelligence. Aptly titled ‘predictive fashion,’ Shop You is at the forefront of technology and fashion. Using data from search and purchasing behaviours, the app continuously learns about you over time. There is also a chat function that can be used to find a specific item, which uses natural language processing to understand your search queries (just like Google).
The technology used is the first of its kind and signifies a bold new direction for the future of fashion.
THE PAIR MET DURING THEIR TIME AT WESTFIELD, KELLY AS A DIGITAL RETAIL CONSULTANT AND EMMA AS A MARKETING MANAGER.
In researching the market opportunity, more than 40,000 customer reviews were read to find out what customers want from a mobile shopping experience. If you look at some of the most successful apps in the app store they deliver time savings; our most valued commodity. Spotify saves time finding music. Airbnb picks the best location and accomodation in the shortest time.
“The two statements that sum up the research are , ‘saves me time, saves me money’”, says Kelly.
Shop You is not just for online purchases. It personalizes the search up front so if a shopper chooses to then head into store to purchase, they can. Shop You creates an experience that responds directly to individual shopping needs. Understanding how and when you shop. For example, 71% of women shop by occasion, so Shop You makes it easy to find an outfit for an upcoming party or speaking event based on your shopper DNA. What you like, what you have previously purchased and taking into consideration external factors such as the weather.
“Other shopping platforms are product catalogues with no differentiation or personalisation. Our mission is to be the most personalised, simple way for women to shop,” says Emma.
GIVEN THEIR EXPERIENCE IN RETAIL AND TECHNOLOGY, THE DUO ARE ALSO PASSIONATE ABOUT REDEFINING THE SHOPPING EXPERIENCE FOR RETAILERS.
Retailers are facing more challenges than they ever have, with dominant global and online players, high return rates, a lack of insightful customer data and a very well attuned customer. When they are unable to make informed business decisions with real-time, accurate insights, there’s an overall reduction in conversion rates, customer loyalty and effectiveness of the marketing dollar.
IN ADDITION, PERSONAL RECOMMENDATIONS CAN INCREASE CONVERSION RATES BY 150%.
The opportunity is all in the algorithms.
“Predictive technology allows you to reach customers and convert them at a higher rate when they are ready to purchase,” says Kelly.
The entrepreneurs have an enviable network of board advisors on call, from renowned AI and Data Science leader Gavin Whyte, the ex-global CEO of T2 and Executive Director of the Just Group Rachel Kelly, to experienced corporate, media and tech advisor David Burkett. They have also been featured on Sky News Business Success, CMO and SMH.
For shoppers, it’s like having their own personal stylist on hand, that sorts through thousands of items and recommends only the right ones. Making it easy to shop when and where they want.
For brands, partnering with Shop You means getting their fashion in front of more women who will buy, resulting in increased sales, reduced return rates, the ability to market to a highly-engaged audience and and access to real time data and insights.