Just last year, in 2016, the e-commerce revenues for digital retail around the world totaled an astounding $72 billion. In just four years from today – in 2021 – the total retail revenue captured using digital means is expected to reach an all-time high of $116 billion, if not even higher.
Businesses, organizations, and entities around the world have recognized the potential for success in today’s world, thanks to the Internet opening up trade routes on a global level. However, unlike the trade routes of yesteryear, where they only passed in between ultra-large suppliers, they now directly connect the likes of businesses and consumers
Competitors in this field of business have tried many avenues to success, ranging from social media marketing methods to top-notch customer relationship management programs designed to renovate the communication process from the ground-up. However, one method of operation that has worked considerably well in today’s world of digital business is membership programs.
The Pioneer Of Memberships
While memberships have been around for countless years in their traditional form, they haven’t existed in the digital, e-commerce world for very long. They are characterized by consumers paying with their credit and debit cards, by which goods are shipped through postal carriers directly to their places of living.
TechStyle Fashion Group is a pioneer in this area of business, and was founded in 2010 by Adam Goldenberg and Don Ressler, both of which are still with the company – and they’re both chief executive officers of the same company.
The Story Of JustFab
JustFab, a membership system for providing low-cost footwear to its many customers, was founded in 2010. JustFab is unarguably the first e-commerce membership program designed solely – no pun intended – for footwear.
Subscribers can either sign up for a basic package, or be subjected to the Very Important Person list. Also shortened to the VIP list, these exclusive JustFab members could get discounts of more than 30% on retail-priced products, have initial access to special products and promotions only around for limited amounts of time, the accumulation of loyalty points designed as a reward, and – what most people felt was the best value – free shipping on all footwear.
The Spread Of JustFab
Thanks to the organization’s booming business model and top-notch CEOs – Goldenberg and Ressler – JustFab rose its way to six million unique visitors throughout the first two calendar years that it operated.
Although it might be hard to believe, in only one quarter in 2012 – the first fiscal quarter – over 2,500,000 pairs of shoes were sold using its proprietary subscription method of delivery.
JustFab then continued to branch out, bringing FabKids and ShoeDazzle on board to the now-parent company’s deck. The two branches grew out in the United Kingdom, Germany, and several other countries with high levels of success.
Along Comes Celebrity Endorsements
Most successful marketing plans have several methods of action to diversify their performance. Goldenberg and Ressler realized just this, and decided to bring Kate Hudson on board as the official endorser and co-founder of Fabletics.
It was around this time – in 2016 – that JustFab became known as TechStyle, the name that the company still holds today.
TechStyle successfully brings together the practices of data science, web page and product personalization, and commerce through memberships, rather than the number of products sold.
The Faces Behind TechStyle, JustFab, And Their Wide-Ranging Success
Adam Goldenberg got his first taste of the business world at the young age of 13, forming Gamer’s Alliance, a message board and forum hosted on the Internet that quickly became popular across the world wide web.
When Mr. Goldenberg was only 17, he was able to sell off Gamer’s Alliance to Intermix, best known for being the parent company of MySpace, the world’s first modern social media platform.
As part of the package deal Mr. Adam Goldenberg received for selling Gamer’s Alliance to the conglomerate, he was hired as the group’s Chief Operating Officer at the barely-older age of 19.
It was at this time Mr. Goldenberg became the youngest COO of a publicly-traded company – one that has stock traded on exchanges that is able to be purchased by the public – in the entirety of the United States of America.
Thanks to Adam, TechStyle created FashionOS, a platform that melded together six various software and types of technologies that allowed the company to perform seamlessly.
Don Ressler is arguably best known – at least before his venture into JustFab, TechStyle, and MySpace’s parent company – for creating FitnessHeaven.com. Just like his colleague, Ressler was hired on by Intermix as part of a deal for purchasing the website. He was President and CEO of the site prior to selling it.