This is spot on. I have always wondered about this "deeply understanding customers" part specially for something like a fashion taste. I am so bad at explaining my choices and challenges. What I have bought online represents a point in time mood, and unfortunately muddled by impulse buys & heavy returns. Myntra has so much of my shopping behaviour, still is not able to judge what I will like. The companion model will need to bring in the skills of a personal stylist to be able to decode my fashion sense and then use it to do the necessary curation/reco for me. The actual price, offer, tracking flow can be simpler to crack.
I also believe market placesof future will be the trust layer between brands and consumer.. sharp assortment ( fewer choices ) but absolutely relevant for the target consumer .
Yes, curation becomes a key thing. I remember Myntra was the place for me for fashion because it had a curation of certain quality & fashion sense. With 'selection' taking priority, this seems to deteriorate and now I feel lost everytime I go there. No wonder a lot of my fashion shopping moved to Westside that has got the curation sorted (even though it is not a marketplace in business model terms).
There is a wonderful note by better capital on future of market places . The link is given below
https://bettercapital.vc/companion-commerce/
This is spot on. I have always wondered about this "deeply understanding customers" part specially for something like a fashion taste. I am so bad at explaining my choices and challenges. What I have bought online represents a point in time mood, and unfortunately muddled by impulse buys & heavy returns. Myntra has so much of my shopping behaviour, still is not able to judge what I will like. The companion model will need to bring in the skills of a personal stylist to be able to decode my fashion sense and then use it to do the necessary curation/reco for me. The actual price, offer, tracking flow can be simpler to crack.
I also believe market placesof future will be the trust layer between brands and consumer.. sharp assortment ( fewer choices ) but absolutely relevant for the target consumer .
Yes, curation becomes a key thing. I remember Myntra was the place for me for fashion because it had a curation of certain quality & fashion sense. With 'selection' taking priority, this seems to deteriorate and now I feel lost everytime I go there. No wonder a lot of my fashion shopping moved to Westside that has got the curation sorted (even though it is not a marketplace in business model terms).