Top e-commerce startups leading online shopping innovation
Everything under the sun today can be bought via online shopping, from food to books, to cars, and the list is endless. This flip in technology could happen because of the 100s of companies which decided to bring upon a change in the world. The rapid extension of the ecommerce landscape is transforming the way we do business and is presenting the market with newer avenues of business. To join this league, many startups are consistently coming forward and joining the digital revolution today. They are shedding away their traditional methods of businesses and bringing in things beyond imagination. Who could have thought that someday we would be able to visualize a product in 3D before buying it online? Or had you imagined that trial rooms could be virtual too? For years we have been scrolling through ecommerce websites, checking products, their reviews, and adding them to the card. Who could have thought that we would be able to purchase a product live even without visiting the store real time!
But the problem is that our eyes are always caught up by the giants, but today let’s check a lot more companies which are consistently stealing the show in this ecosystem:
1. John Paul Mitchell System: JPMS is a top manufacturer of high-quality hair care products and styling tools through several brands including Paul Mitchell, MITCH, Awapuhi Wild Ginger, Tea Tree, Paul Mitchell Pro Tools, Neuro, Neon and MarulaOil. Along with an informative and catchy interface, they have devised a custom commission structure to pay salons in their network a commission on every order they get through the website that comes from their specific URL and codes. This was a brainy move as it helped them to bypass competitors through a word of mouth from the best professional stylists around the globe. The impact of this was such that they sold products worth $2,000,000 in just two years.
2. Dollar Shave Club: Founded in 2011, this startup delivers razors and other personal grooming products for extremely low prices by mail to individuals who subscribe via the startup’s website. The catch here is that they didn’t even make their own razors, instead they just bought them from manufacturers and resold them at better prices. Still, it turned into a billion dollar business and had raised unexpected revenue in 2016. It succeeded just because of its storytelling capabilities filled with clever humour that attracted most of its audience. Hence, content marketing proved to be a game changer here.
3. Trunk Club: For ages, it has been very difficult to shop clothes online because of the right fit issues. Founded in 2009, Trunk Club found a solution to this problem and made online shopping way too convenient. After registering, men were asked to submit their personal tastes and measurements. Subsequently, they were sent a trunk of clothes, of which they only pay for what they don’t return in the mail within 10 days. While most traditional clothing companies have only adopted digital so far as to enable their customers to purchase the same online as in their stores, Trunk Club has taken it a step further by building the business around the notion that individuals want the opportunity to try the clothes before paying for them.
4. Boxed: Founded in 2013, it ranks among the top e-commerce startups because it’s transforming the way individuals can buy items at wholesale prices as it’s able to charge even less than famous wholesalers like Costco and Sam’s Club. In just 3 years, it raised more than 30 million dollars across the United States and gave a very compelling reason to the visitors to switch to Boxed. Just a mere shift in mindset to bring the wholesale business online led to a massive success of this startup.
5. QE Home: They had 75 retail stores across the country and the major challenge was to integrate the brick and mortar presence with the digital channel experience to strengthen the brand and meet the expectations of today’s consumers. To tie the online shopping experience with the stores, they had to enable their customers to search for product availability in their nearest stores. This required that they set up near-time updates of over 15,000 SKUs across 75 store locations. After setting up the site, they saw an exponential increase in the page views as well as in the conversion rate.
eCommerce unicorns come in a lot of different forms. Whether it's using friends to get cheaper deals or selling to your neighbour, retail is increasingly using the customer to sell. Along with this, the startups come up with a variety of revenue models which themselves are a big source of innovation. It is worth noting that as the growth of these ecommerce startups accelerate, the range and variety of products we can purchase online also increases. Which one is your favorite startup, do write to us at email@example.com.