What Happens When A Digital Native Vertical Brand's Journey Turns Physical
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The document discusses the transition of digital-native brands like Casper and Indochino from online to physical retail, emphasizing the importance of a seamless omni-channel experience. It highlights their strategies for product development, customer engagement, and expansion of retail locations while maintaining a focus on innovation and customer feedback. The brands aim to disrupt traditional shopping experiences and enhance customer satisfaction through tailored services and efficient operations.
What Happens When A Digital Native Vertical Brand's Journey Turns Physical
- 1. What happens when a digital native vertical brand's journey turns physical? Sharad Kharé Kharé Communications Moderator Drew Green INDOCHINO Jennifer Braunschweiger MM.LaFleur Eleanor Morgan Casper
- 2. Eleanor Morgan Chief Experience Officer
- 3. We design products and experiences that help the world sleep better.
- 4. = Product + Experience “Like sleeping on a cloud” “Disrupting the way we shop for sleep”
- 5. Today’s mattress stores An Uncomfortable, Transactional Environment The Lurking SalesmanA Sea of Options
- 7. 2014 TODAY 1 mattress 1 e-commerce channel Products for the entire bedroom Omni-channel with 20+ retail stores and partnerships with Target, Nordstrom, Hudson’s Bay Availability around the world1 country (U.S.)
- 8. Wholesale Website Customer Service Retail We think of omni-channel in terms of these four touchpoints. Together, these must feel like one store.
- 9. We take a product development mentality toward retail. ● Launching and learning quickly ● Continually evolving the experience based on customer feedback ● Maximizing flexibility
- 10. Through a uniquely joyful experience, we aim to shift the conversation around sleep.
- 11. Disruptors of Mattress Buying Champions of Great Sleeping
- 12. Thank you!
- 29. FROM DIGITAL TO PHYSICAL Drew Green, CEO
- 30. Priced for the entire market Accessible omni-channel Virtual inventory High quality and efficient production @scale Custom, personalized and fitted Delivered to your door MAKING AVAILABLE WHAT WAS ONCE ASPIRATIONAL
- 32. DIGITALLY NATIVE First to deliver custom clothing online in 2007
- 33. TRAVELING TAILOR Tested retail concept via pop up stores 2011-2014
- 34. BRICK & MORTAR Opened first permanent location in 2015
- 35. INDOCHINO SHOWROOMS • Retail customers spend $100 (25%) more than online customers on first purchase • 40% more likely to purchase online in subsequent purchase vs. online customers • 37 showrooms across North America • Very efficient to open; virtual inventory model • Has rapidly increased brand awareness and expanded our customer base
- 36. • All potential customers are driven to the website. 68% of all transactions originate through ecommerce engine • Agnostic about whether they purchase online or book appointment in showroom. Retail customers are encouraged to reorder online • Online business can predict demand in retail; allows us to forecast and allocate labor as we expand • All touch points supported by customer experience, equally INDOCHINO eCOMMERCE
- 37. 2015 - 2018 • Forecast CAGR 45% net revenue • Opened 39 showrooms by end of fiscal 2018; 57 by end of 2019 • Reduced delivery from 4 to 2 weeks Winnipeg, MB Halifax, NS Las Vegas, NV Boston, MA Toronto, ON (3) New York, NY (3) Ottawa, ON Short Hills, NJ Philadelphia, PA King of Prussia, PA Charlotte, NC Miami, FL Atlanta, GA Washington, DC Area (2) Columbus, OH Nashville, TN Dallas, TX Austin, TX Houston, TX Chicago, IL Minneapolis, MN Scottsdale, AZ Los Angeles, CA (2) Denver, CO Newport Beach, CA San Francisco, CA Vancouver, BC (2) Edmonton, AB Calgary, AB Seattle, WA
- 38. • North American expansion • Product expansion • Inventory expansion Deliver 1,000,000 made to measure suits a year through a commitment to innovation, design and the core values we live by. 2019 & BEYOND... OUR MISSION
- 39. THANK YOU @TheDrewGreen @DrewGreen @Drew_Green Receive a free shirt with any suit purchase Code: BROOKLYN Expires Jan 27, 2019