Via https://newsapi.org online business online marketing online business opportunities Ex-Snapchat And Quidsi Execs Launch Site To Bring ‘Joy Back’ To Shopping

Via https://newsapi.org online business online marketing online business opportunities

via https://newsapi.org online business online marketing online business opportunities Woman with headphones shopping online

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The site does not include third-party sellers, preferring to purchase inventory directly from brands such as AllSaints, Boll & Branch, Levi’s, Manduka and Spiritual Gangster. Verishop has launched with about 160 brands on board and plans to have more than 300 by the end of the year. Going without third parties enables Verishop to certify that counterfeit goods will not be sold on the site.

The site also features The Responsible Shop, which offers “an assortment of clean and conscious products that make you look and feel good,” and Tastemakers, a collection of items that are recommended by a variety of social media influencers with expertise in different areas. Verishop is working with seven individual tastemakers at launch.

The company’s leadership team, in addition to the Khans, includes former executives from Bloomberg, Dollar Shave Club and Thrive Market.

Mr. Khan believes that there are plenty of opportunities available in e-commerce and that the model he, his wife and team are developing offers unique features that meet the needs of many consumers in the market.

“E-commerce is only just getting started in the U.S.,” Mr. Kahn toldCNBC. “We’re in the first or second inning of it. … I think we are building a business at a time when we are closer to 10 percent [online penetration].”

While some saw opportunities for Verishop in aRetailWireonline discussion, many questioned whether it would ever scale to become a rival to Amazon.com, as suggested in other media coverage.

“Curation and customer service are hard to scale effectively,” saidMark Ryski, founder and CEO of Headcount Corporation. “The online retail market is enormous and growing, so a solid online offering may gain some traction, but to grow this into something significant requires getting eyeballs to the site. And herein lies the biggest challenge for Verishop — breaking through in an online sea of alternatives.”

“Everyone is offering free shipping in all sorts of variations,” saidPhil Masiello, founder and CEO of CrunchGrowth Revenue. “What is the value proposition of Verishop? Curation? I don’t think that is enough. Influencer endorsements? I think consumers have already discounted this value because they know they are paid for.”

Others in the retail industry professional discussion forum chose to take a more wait and see approach when it comes to the new online shopping platform.

“From a leadership perspective, Verishop would seem to have the right people setting strategy and directing operations,” saidBill Hanifin, CEO of Hanifin Loyalty. “That means there may be more in store than meets the eye.”

“It is difficult to connect the competitive dots between Amazon’s glut of product and Verishop’s influencers,” saidCynthia Holcomb, founder and CEO of Preference Science Technologies. “Possibly the Khan’s have a magic new Snapchat-like app, yet to be launched, able to bring Amazon to its knees? While it is early, the Khans must have something else up their proverbial sleeve.”

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Imran Khan, the former chief strategy officer at Snapchat, along with his wife, Cate Khan, who previously worked at Quidsi, have launched Verishop, a new online platform designed to bring “the joy back to shopping.” Quidsi was co-founded by Marc Lore, the current CEO of eCommerce for Walmart U.S., and was acquired by Amazon.com.

Verishop, which features curated collections of men’s and women’s clothing, home and beauty products, offers free two-day shipping with no minimum purchase and free returns as part of its 24/7 customer care.

via https://newsapi.org online business online marketing online business opportunities Woman with headphones shopping online

Getty

The site does not include third-party sellers, preferring to purchase inventory directly from brands such as AllSaints, Boll & Branch, Levi’s, Manduka and Spiritual Gangster. Verishop has launched with about 160 brands on board and plans to have more than 300 by the end of the year. Going without third parties enables Verishop to certify that counterfeit goods will not be sold on the site.

The site also features The Responsible Shop, which offers “an assortment of clean and conscious products that make you look and feel good,” and Tastemakers, a collection of items that are recommended by a variety of social media influencers with expertise in different areas. Verishop is working with seven individual tastemakers at launch.

The company’s leadership team, in addition to the Khans, includes former executives from Bloomberg, Dollar Shave Club and Thrive Market.

Mr. Khan believes that there are plenty of opportunities available in e-commerce and that the model he, his wife and team are developing offers unique features that meet the needs of many consumers in the market.

“E-commerce is only just getting started in the U.S.,” Mr. Kahn toldCNBC. “We’re in the first or second inning of it. … I think we are building a business at a time when we are closer to 10 percent [online penetration].”

While some saw opportunities for Verishop in aRetailWireonline discussion, many questioned whether it would ever scale to become a rival to Amazon.com, as suggested in other media coverage.

“Curation and customer service are hard to scale effectively,” saidMark Ryski, founder and CEO of Headcount Corporation. “The online retail market is enormous and growing, so a solid online offering may gain some traction, but to grow this into something significant requires getting eyeballs to the site. And herein lies the biggest challenge for Verishop — breaking through in an online sea of alternatives.”

“Everyone is offering free shipping in all sorts of variations,” saidPhil Masiello, founder and CEO of CrunchGrowth Revenue. “What is the value proposition of Verishop? Curation? I don’t think that is enough. Influencer endorsements? I think consumers have already discounted this value because they know they are paid for.”

Others in the retail industry professional discussion forum chose to take a more wait and see approach when it comes to the new online shopping platform.

“From a leadership perspective, Verishop would seem to have the right people setting strategy and directing operations,” saidBill Hanifin, CEO of Hanifin Loyalty. “That means there may be more in store than meets the eye.”

“It is difficult to connect the competitive dots between Amazon’s glut of product and Verishop’s influencers,” saidCynthia Holcomb, founder and CEO of Preference Science Technologies. “Possibly the Khan’s have a magic new Snapchat-like app, yet to be launched, able to bring Amazon to its knees? While it is early, the Khans must have something else up their proverbial sleeve.”

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