Jason Hope is one of America’s most prolific tech entrepreneurs. Having founded many of his own successful companies, he has earned the respect of many industry observers and has himself become something of a guru on all things technical.
Hope has always been an eternal optimist. For him, the technology glass is always half full. There’s always more to be gained by technology and the journey provided by the process of innovation than any Luddite existence could guarantee. But Hope’s expansive view and virtuosic entrepreneurialism also give a unique vantage point to see all of the problems that are associated with these new technologies and that, someday soon, society will be forced to grapple with.
One man’s job displacement is another man’s leisure time
One of the points that Jason Hope tries to get across to his readers is that the future is largely already here. Among Millennials, almost every metric of social progress of their parents and grandparents is lagging. Of course, it is debatable whether those same metrics are relevant in today’s socioeconomic scene. Either way, there’s no question that things like marriage, first-time home ownership, full-time employment, among many other benchmarks of progression into adulthood, are seriously lagging in the 20-35 demographic, relative to 40 or 50 years ago.
But Hope sees this as inevitable. He believes that the expectation of maintaining a large percentage of the workforce employed will be increasingly unrealistic. Because of this, he says, society will eventually need to adopt some version of the universal basic income.
Kate Hudson’s Fabletics finally scaled the hurdle into the league of fast
scaling e-commerce companies. This is no mean feat. Just within the space
of three years Fabletics has grown into a $250 million business despite the
presence of fashion e-commerce giants like Amazon that controls 20% of the
market. Now, Kate Hudson’s Fabletics can rob shoulders with the likes of
Amazon, Apple, Bonobos and Warby Parker. The rise of Fabletics is no
accident; it is a product of proven and tested business strategies.
One of these result-oriented strategies in use by Fabletics is reverse
show-rooming. Before now, many business firms subscribed to show-rooming to boost sales, but it turned out to be the reason many of these firms
crashed or were under-performing. Showrooming encourages people to visit
physical stores, view the items on display and proceed online to make
purchases. As it turned out, these customers go to the stores, inquire
about the prices of the items they want, but go online to search for other
competitors ready to offer these items at lower price. On finding one, they
put in their orders and take delivery afterward leaving the physical stores
with nothing to cover for the cost of running these stores. The only way
out is to reverse the process i.e. get customers to do their search online
and later come to the physical stores to make their purchases. This is what
is called reverse show-running. Achieving this feat requires a couple of
strategies. In the case of Fabletics, they put together a membership model
that offer customers personalized service and on-trend fashion cutting
market price by half.
Proofs of Fabletics ascendancy are now obvious to all. Recently, their
offline stores were increased to 16 in places like Florida, Illinois,
California and Hawaii. Also, news of the opening of another set of offline
stores is everywhere. These and other recent developments show that the
company is on an upward match.
A BRIEF REVIEW
Fabletics remains one of the fastest growing fitness apparel companies. The
owner, Kate Hudson, together with the managing crew has successful put
together a monthly membership structure. I always advice individuals who
care to listen to opt for a VIP membership on joining the ever increasing
customers’ list. The reason is simple. On your first order, you only pay
$25 with good price discounts when ordering your a la carte outfits. VIPs
are not under any obligation to make monthly purchases or pay fees for not
placing a monthly order. The biggest perk for membership is the outfits
curated for you monthly with a 2-3 piece outfit going for as low as $49
The company will know the types of workouts you engage in and you choice
of outfit’s styles as you will be required to take a survey that will
contain all these details. The company will thus know the right items to
bring to you attention on a monthly bases. *