Your SlideShare is downloading. ×
"The Art & Science of E-Commerce," ModCloth >> Eric Koger [COMMERCISM 2014]
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×

Introducing the official SlideShare app

Stunning, full-screen experience for iPhone and Android

Text the download link to your phone

Standard text messaging rates apply

"The Art & Science of E-Commerce," ModCloth >> Eric Koger [COMMERCISM 2014]

3,024
views

Published on

THE $100 MILLION EQUATION: THE ART & SCIENCE OF E-COMMERCE, Eric Koger, Co-Founder & CEO, ModCloth …

THE $100 MILLION EQUATION: THE ART & SCIENCE OF E-COMMERCE, Eric Koger, Co-Founder & CEO, ModCloth

Check out Eric's presentation that goes with this slide deck here: https://www.youtube.com/watch?v=pCN_eiuR_Sw

Published in: Technology

0 Comments
9 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total Views
3,024
On Slideshare
0
From Embeds
0
Number of Embeds
5
Actions
Shares
0
Downloads
66
Comments
0
Likes
9
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. Eric Koger
 CEO & Co-Founder, ModCloth The $100 Million Equation: The Art and Science of E-Commerce Commercism Conference March 21, 2014
  • 2. Who Is ModCloth
  • 3. Raised $48 Million in Funding
  • 4. 503 employees
 Headquartered in SF San Francisco – 154 Los Angeles – 53Pittsburgh – 296
  • 5. In 2013... • Collection of over 7,500 designs from over 1,200 designers ! • Growing private label business
  • 6. Remarkable Assortment of Fashion & Decor Retro & Vintage-Inspired One-of-a- Kind Vintage
  • 7. Unique Marriage of Art and Science
  • 8. 965 4,550 2,914 3,031 26,621 14,767 25,061
  • 9. Available 
 for Sale 2-12 Weeks Traditional Retail “Push” Model Disruptive “Pull” Model Customer signals inform buying re-order decisions Vast majority of Inventory sold at full price ✓ 1 YearBuyers Inventory Discounting Buyers 2-12
 weeks 2-12
 weeks
  • 10. How It Began: Be the Buyer
  • 11. Morgan Skip It! Holy salmon stripes, Batman! What is that ruffly crap oozing out of the blood red waist line, there? Honestly, from the waistline down is sort of cute, but that top is a hot mess. Bethany Skip It! If it weren’t for the ruffles above the waistband, this would be a really adorable dress. ModLover Skip It! The ruffles over the belt completely ruin this dress! Get rid of the ruffles and it would be amazing. 11.3% Pick It! 88.7% Skip It! Before
  • 12. Bethany Skip It! If it weren’t for the ruffles above the waistband, this would be a really adorable dress.
  • 13. Customers provide direct feedback…
 “Get rid of the ruffles and it would be amazing.” … we incorporate into our merchandise. 11.3% Pick It! 88.7% Skip It! Before 63.4% Pick It! 36.6% Skip It! After
  • 14. • Be the Buyer products historically sell 2X as much ! • Lifetime spend 
 of Be the Buyer customers is 
 3X more
  • 15. Lean DNA Paves the Way for Great Ideas
  • 16. Community outfit-sharing platform with shoppable images and style inspiration.
  • 17. Windy City Dress 
 in Navy Style Gallery Inspiration (11)
  • 18. ! • Over 20,000 total photo submissions ! • Conversion is over 50% higher than site average ! • Over 1.1 million loves on our Style Gallery
  • 19. Efflorescent Effect Dress Heart of the World Bag Too Much Fun Dress in Black Dots Installation Art Exhibit Tank in Aqua Zigzag Time for a bite Necklace Efflorescent Effect Dress Heart of the World Bag Too Much Fun Dress in Black Dots Installation Art Exhibit Tank in Aqua Zigzag
  • 20. Takeaways
  • 21. SHE ENGAGES SHE INFLUENCES DATA ENABLES PERSONALIZATION SHE FEELS OWNERSHIP SHE VISITS
  • 22. Takeaways • Niche Start = Competitive Advantage & Fundraising Disadvantage ! • Niche Focus x Iterative Expansion = Scale ! • Marriage of Art & Science = Lean Principles x Creative Leadership x Analytical Course Correction