In 2011, a millennial entrepreneur by the name of Katrina Lake founded a company called Stitch Fix. Her company is essentially a fashion-based subscription service utilizing the advantages of today’s technology. Katrina discovered that within the clothing industry, shopping for the specific clothes that fit your own personal style was not only difficult but also time intensive. The problem Katrina aimed to solve was just that. She wanted to create a company that shopped for you, instead of traditional method of shopping for yourself. As stated on their website, “It’s our mission to change the way people find clothes they love by combining technology with the personal touch of seasoned style experts. The Stitch Fix experience is not merely curated—it’s truly personalized to you. We’re here to help you save time, look great and evolve your personal style over time.”
What really makes her idea interesting is her innovative use of technology. When a customer initially signs up for Stitch Fix’s services, they are required to complete a clothing questionnaire. The detailed clothing quiz asks for the brands you wear, the sizes that best fit you, and what styles you like best based on pictures of models wearing the Stitch Fix brand. After completion of this, the answers are put into algorithms that eventually determine your own personal stylist. You are then put into contact with your stylist electronically and continue the discussion about your own clothing style.
Not only is she innovative by using complex coding and algorithms to best match candidates with personal stylists, but she also ships outfits to your home for only a small fee of $20.00. The clothes can be tested in the comfort of your own home and purchased if necessary (which credits the $20.00 towards whatever you purchase). Consumers no longer have to waste time traveling to different stores and trying on numerous different outfits. Nor do they need to have a physical presence anywhere to make a purchase. It is all done personally and through the use of technology thanks to Katrina Lake’s idea.
This is a great example of a disruption in the usual clothing shopping industry. People are used to going to buy clothes at a store, but some people do not like doing that. There could be too many options, or it is difficult to try them on. It can just be an overwhelming experience in general. Katrina transformed the way people shop for clothes with her company. They can now have a personalized clothing selection to choose from, and are able to try the clothes on in their own home. It is usually much simpler than shopping in a store, and the program does most of the shopping for you. It was also ingenious to provide an incentive for the person to buy something, with the shipping fee is put toward the cost of clothes you purchase. In the end, it is a great business model, and can be (and is being) applied to many other industries as well.
I had a hard time finding clothes that fit me when I was younger so I definitely resonate with this article.