My-wardrobe overhauls site and aims for £100m sales over next five years
Fashion etailer My-wardrobe is relaunching its website on February 22 with new interactive features, and a fresh strapline – ‘everyday luxury’– being introduced to clarify the brand offer. The new look My-wardrobe.com has been timed for Spring Summer 2011 and boasts several new designer names and items exclusively designed for the site. It will provide daily style news, magazine-style features, click-to-buy fashion films from MY-TV, and street style photography through its ‘Daily Buzz editorial bar’. “Experts from the fashion world and my-wardrobe.com will provide exciting ways to shop the collections and must-have pieces through must-see features, such as Five Ways to Wear It, 3D TV and designer interviews,” said a spokeswoman.
The revamp is part of My-wardrobe’s strategy to keep sales growth momentum going and extend its customer reach into Europe. My-wardrobe has seen 100% year-on-year growth since its inception and says it is aiming for £100m in sales over the next five years.
The company received a cash injection of £6m from Balderton Capital and Angel Investors eight months ago which is funding the site’s aggressive plans. The pureplay etailer sells fashion labels such as Ralph Lauren, Moschino Cheap & Chic, Milly, and Mulberry, and has previously promoted itself with the strapline ‘accessible luxury’. However customer research has shown that visitors to the site thought this suggested discounted fashion, so the ‘everyday luxury’ strap makes the offer clearer.
Founder and CEO Sarah Curran said: “We are delighted to present the new My-wardrobe.com. We have been working behind the scenes to create a unique shopping experience, which marries online shopping with magazine and blog-style editorial with exquisite photography. The pureplay online market is more competitive than ever before, creating a need to cultivate a unique online proposition.”
My-wardrobe has been operating since 2006 and recently reported its best December trading to date, up 113% year on year.
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Many brands have spent fortunes honing and tweaking their web sites yet it is often the smallest and least obvious details that make the difference between conversion and abandonment.
The need for subtle modifications is unlikely to come out of the traditional approach to web site redesign – which involves closed-door meetings of a company’s key strategists and web designers. It will only come to light following live testing with actual web site visitors.
Amazon has known this from the start, and has practised live, iterative site development from the beginning, continually testing and refining the messaging on its free delivery, secure payments and ‘go to checkout’ buttons, and perfecting the way it segments and targets its customers.
Many other e-commerce businesses, by contrast, continue to rely on blind faith in their web development – following gut-feel, spurious ‘best practices’ or, at best, reactive feedback from small research samples. Alternatively, they may spend large sums of money on retrospective site activity analysis, which is then fed into a protracted redesign lifecycle, where the web site is completely, yet somewhat randomly, overhauled every couple of years.
Ultimately, it should be the customers themselves who design your web site, based on the live choices they make on your pages. A truly personalised web experience will be one which offers customers web page layouts, sequences and content that have been dynamically put together based on that user’s demonstrated preferences.
The average uplift in conversion following regular testing and small iterative improvements has shown itself to be in the region of 34-35%, which could have a huge impact on a company’s bottom line.
Mark Simpson
Founder and President
Maxymiser
http://www.maxymiser.com
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