Zalando: Fashion, Emotion & Ecommerce
The Economist: “One of Europe’s most interesting technology companies sells shoes and threads … Zalando has a Silicon Valley-inspired work environment, holding “f**k-up nights’ to celebrate failure and ‘hack weeks’ to cook up new ideas. It encourages its employees to abandon hierarchy and structure for what it calls ‘radical agility.’ It has a 1,350-strong, and rapidly growing, technology team. Among its other assets are its software, which it built itself, and its user-friendly apps (two-thirds of all traffic goes through mobile phones).”
“Zalando pays close attention to data. It gleans a wealth of numbers from the more-than-5m daily visits to its site, and some brands and retailers of the bricks-and-mortar sort give it access to their stock counts. Both sets of figures help improve the firm’s forecasting of fickle fashion trends, its use of targeted ads and the speed of its responses to shifts in weather patterns or fashion tastes. Through data-mining it can spot the trendsetters among its customers and stock up on what they buy. In future it wants to sell its insights to the rest of the industry.”
“Amazon is pursuing the more price-conscious shopper, whereas Zalando is after a higher-value, more brand-conscious segment. The company believes that for such customers, shopping for clothes, shoes and accessories is an emotional activity; shopping on Amazon is just a transaction.”
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Tim Manners/Brand X Ventures | Sep 6th, 2016 | Amazon, data-mining, targeted ads, Zalando