Indochino combined two business models and created a new platform that puts their customer first. The new business model used by Indochino allows the brand to deliver value and trust to their customers.
Through the use of data, Indochino is able to create a more personalized experience in store and online. Both locations work together to create a unique and customizable business strategy, which in turn delivers unique and custom suits.
New-Market Disruptive Innovation
According to Christensen, “Nonconsumers are ubiquitous. They exist in every market. Even people consuming a product can be nonconsumers. How? A person might not be consuming a product in a particular context or environment.”
Indochino studied the consumers behavior and tailored their business to the customer. They were able to make a disruptive innovation in the retail industry.
Since their data designed the customer experience, the customize now feature on their website allowed for a more personalized and convenient online shopping experience. Furthermore, they were able to analyze the customers buying experience and opened a wedding planning experience.
According to an article on Forbes.com,
…other brands that charge upwards of $1000, the brands offers suits from $400 to $800. Indeed, they are certainly perceptive to needs of the modern man—one who values craftsmanship and quality, but wants it at a discount.
Online Marketing Strategy
The online only brand built trust with its customers and was able to redefine its business strategies. The data collected online enabled them to deliver an in store experience and to create more brick and mortar locations.
- Qubit’s Visitor Cloud
- Puts the customer first
- Allows both business models to work together in one platform
- Delivers consistency in the online and in store experience
- Further develops its marketing strategies through Geolocation to show customers to the closest store
- Business Timeline:
- 2007 – Online only brand
- 2011 – Traveling Tailor
- started moving into retail
- pop up shops in certain markets
- created brand awareness
- Booking through an app on tablets in store.
- The technology allows you to collect more data in person
- Began targeting local professionals and window shoppers
The data allowed them to adjust their business model. The marketing and business experience is able to be driven by the customer and where they are in the business cycle. The business cycle uses traditional and data driven methods to deliver a sustaining customer experience.