fbpx

50% off all our plans only till 31st December to celebrate our launch!

GET IN TOUCH
Business Idea

Crowdsourced fashion discovery platform for buying an entire look

The Problem

We don’t imagine ourselves going out in just a shirt or trousers or belt.

Yet, most e-commerce sites assume that, showcasing and selling individual garments and accessories. While not everyone has products from all categories, some just don’t care. This results in:

  • Higher chance of users dropouts (due to confusion).
  • Lower revenue per customer (no cross-sells).
  • Customers miss out on great pairs for their outfits.

Solution

A mobile app where users see products sourced from multiple e-commerce websites as a “combined look” and can shop for the same with just a click.

How It Works

  1. Any listed “look” will have a top, bottom, neck, waist, shoe, hand, and accessory slot.
  2. Allow for slots to have nothing or multiple products (like a jacket over a top).
  3. On average, each look will have 6 products.
  4. Procure your first 36 products which can be mixed and matched into 100 unique looks.
  5. Get 2 models to shoot the looks, helping users visualise better.
  6. Users can sort and filter through these looks in-app.
  7. Keep individual prices on par with the marketplaces, butgive insane deals on the entire look.
  8. Provide reward points on purchases and product reviews.
  9. These points can be redeemable for store credits to win a loyal fan base.

Pricing / Business Model

Convincing e-commerce sellers to share their inventory again on a new platform and then asking users to trust it with their payments can be a pretty costly endeavour, to begin with.

Hence, we go via the affiliate route, where all we need to do is to direct users towards the respective e-commerce website, having a part of our look. We earn every time the user purchases from websites they are already comfortable with.

This affiliate commission is then shared 50-50 with the fashionistas who added it.

Expected Revenue

Popular e-commerce websites have kept their affiliate commission for this vertical at 4%. This translates into 2% earnings for us and 2% for the fashion influencers.

Now, 2% commission doesn’t seem to be a lot.

But combine the high “repeat user” traffic (we all lookout for good outfits constantly), asset-light operations, and payment safety of popular websites, the numbers add up pretty heavily.

With a single person operation, you can expect similar revenue for the first year into operations:

Head India 🇮🇳 USA 🇺🇸
Mobile+Web App Installs (A) 12,000 12,000
10% users completing track (B) 1,200 1,200
Average entry-level job (C) ₹3,00,000 $65,000
1 month salary (D = C/12) ₹25,000 $5,417
Total revenue (E = B*D) ₹3,00,00,000 $6,500,400

Thus, depending on where you are from, you can achieve up to ~ ₹3 crore (India) or $6.5million (USA) in revenue in 12 months with proper execution! Not a small feat by any measure.

Technology

With technology at the heart of the business idea, you will need a stable web and mobile app platform to support millions of users across the world, as it scales. We (Timespade) would love to build the platform for you. This would include proper brainstorming, UI/UX designing, development, thorough testing, and optimising it on regular basis for success.

If you’re interested, let’s get on a no-strings-attached, discovery call and discuss doing it together 🙂

And for more such ideas, do not forget to subscribe to our weekly idea alerts.

If you prefer facebook..