What I learned from analyzing 20+ high-growth online fashion brands

One of the things I like the most about my job at Custora is building our research platform, The Custora E-Commerce Pulse. I get to work with dozens of e-commerce retailers, geek out over their data, and interview the best & brightest minds in e-commerce and digital marketing (by the way, if this sounds like your idea of fun, we’re hiring).

Custora E-Commerce Pulse Fashion-Growth Fashion Index
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The Fastest-Growing Online Fashion Retailers & What Sets Them Apart [New Report]

Introducing The Custora E-Commerce Pulse High-Growth Fashion Index: A new research report analyzing 20+ fashion and lifestyle retailers that grew their online revenue and transactions the most in 2014.

 

We’re trying to transition into a type of marketing that produces customers who are going to be more loyal, instead of optimizing for the initial sale. — Tim Grace, VP eCommerce, The Tie Bar

 

fashion e-commerce growth

 

US e-commerce is growing fast, with revenue up 14.9% in 2014 according to the The Custora E-Commerce Pulse — a free online dashboard tracking online transactions from over 100 US retailers, 500 million shoppers, and over $80 billion in transaction revenue.

However, this average growth figure masks that some online retailers are growing much, much faster. For this report, we analyzed some of the fastest-growing online fashion, accessories, and lifestyle retailers based in North America. Our goal was to understand what makes these high performance retailers different from everyone else, resulting in a growth rate that is almost double the overall average.

 

 

We have to create an experience where customers want to tell us more about themselves. — John Tucker, VP of Member Experience, Trunk Club

 

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Lessons from Andrea Wasserman, GM eCommerce at Hudson’s Bay and Lord & Taylor

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Andrea Wasserman, SVP Digital for Hudson’s Bay and Lord & Taylor, and former CEO of Sole Society, recently spoke at a dinner Custora hosted for the e-commerce and marketing community in New York City. The dinner was part of our efforts to facilitate a community of retail marketers, and promote learning and sharing across brands. We were excited to host marketers and e-commerce leaders from Tiffany’s, Bonobos, Chanel, Blue Fly, Steve Madden, Amazon and others for an insightful (and delicious) evening at Upland restaurant in Flatiron.

At dinner, Andrea discussed her experience as leader of an emerging fashion brand along with her experiences at her current senior role with one of the world’s most prominent retailers.

You can watch the short teaser video of her discussion with Custora Co-Founder Corey Pierson below (watch the full presentation at the end of this post).


Watch the rest of the interview below. 

In the full video interview, Andrea and Corey cover a range of topics, including:

  • The role of data in e-commerce marketing strategy and execution
  • The interplay between data and qualitative insights
  • The key metrics for appealing to investors in a small company
  • The challenges of serving the omnichannel, omni-device shopper
  • How to approach hiring the e-commerce leaders of tomorrow

Fill in your details to watch the full interview.

Our recent round of funding and what’s next for Custora

Custora just announced a $6.5MM Series A round of funding from VC firms Foundation Capital and Greycroft Partners. We wanted to share some of our thoughts on the journey so far, what’s to come in the year ahead, and of course say thank you for being a part of it all.

 

It’s an equally exciting and challenging time to be a retail marketer.

On one hand, brands have never before had access to so many ways to communicate with their customers. Everyday you get emails about the brands you care about. You can “follow” companies and actually have conversations with them. Nasty Gal has 1.5 million fans on Instagram. McDonald’s actually responds to questions on Facebook. The President recently hosted an Ask Me Anything on Reddit. It’s crazy. This is a marketer’s dream, so many direct ways to interact with customers.

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[Press Release] Custora Raises $6.5MM Series A to Integrate Predictive Customer Insights into the Marketing Cloud

New funds will accelerate Custora’s product development and growth; helping marketers improve customer acquisition and retention.

 

New York, NY – April 7, 2015 – Custora, a marketing software startup based in NYC, announced today the close of a $6.5MM Series A led by Foundation Capital with participation from Greycroft Partners and Valhalla Ventures. The new funding will enable Custora to scale out sales and marketing and more rapidly develop the company’s B2C marketing software platform. Custora, a Y Combinator company, raised its seed round in 2011 and has been growing based on customer revenue over the past few years.

Custora provides a predictive marketing platform built for e-commerce teams. Its software analyzes data to predict how customers will behave in the future – the things they’re likely to buy, how much they’ll spend, even how often they’ll shop. These customer-specific insights enable brands to advertise and communicate in more effective and meaningful ways.

“It’s a new type of software – part predictive analytics, part B2C marketing automation,” says Corey Pierson, Co-Founder and CEO of Custora. “The goal is for marketers to spend more time thinking about how to treat their customer segments at different points in the buying cycle, and less time caught up in data analysis and list management.”

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