Fashion is Your Business recently had Uri Minkoff, of Rebecca Minkoff and Uri Minkoff brands, on the podcast. During the episode they discussed the changing ways of reaching customers. (You can listen to epsiode 57 here.)
If you want to reach me as a customer: find my heart and next to it you’ll find my credit card. My likes on Instagram might as well be my signature on a receipt. It is all apart of the thrill of the consumer chase for any fashion brand in 2015. If you’re a consumer it doesn’t matter how the fashion industry functions; just that it does. Our moment is hauling shopping bags around like new treasures. The brands moment is opening a new store in a new location or looking at its annual report and seeing numbers move up and down scales of success.
Technology might as well as given the fashion industry a heart attack, laid it on its stretcher and shocked it back to life again. Consumers became numbers and the numbers became reason. Creativity, the heart; numbers, the brain. When the heart and brain work together seamlessly you get brands like Rebecca Minkoff.
“Were all challenging ourselves with understanding this new consumer and how in this new modern world where you can have startups that can come out of the gate and can be doing tens of millions of dollars in business within a couple of years driven through the influence of Instagram. You have this existing supply chain of fashion seasons and fashion shows yet as you have newer, leaner models coming out, how do you evolve? How do you go to that next generation? We’re in this generation gap. What worked as customer acquisition is not going to work in the future,” says Minkoff during the episode.
In the past, the chase began and ended in retail stores; today it starts with a cell phone or laptop.
“This instantly connected world has given us an ability to blow something up or shut it down within a moments notice. To take something, a trend or an idea of something that’s never been out there before and to see it on a blogger’s photo on Instagram and see a sensation and see a business that was started that didn’t exist, out of a moment,” he adds.
Instagram has been dominated by the fashion industry that has always been trained to document its artistic creativity in the form of photos for centuries. Instagram is an personalized assorted catalog filled with all the right angles and moments to pull on a buyer’s heart strings. It’s an emotional journey of who you admire, who you are and who you want to be. Each heart-shaped like can define a purchase, a “never wearing that again” or a “I’m going to try that.” Brands have just a much of an Instagram strategy as they do a manufacturing process. It’s apart of the equation. It’s where the heart is.
“You’re dealing with this human heart. At the end of the day, no matter how many analytics or how many different things you’re dealing with, you’re dealing with the human heart,” says Minkoff. “It’s the human heart. It’s the human soul. You can’t always predict and know. That’s the beautiful thing about this space. The immediacy that these social platforms give you to make or break something. That’s the shocking thing that you can see companies that a year ago meant nothing and now are on everyone’s lips, that then six months later are dead. It’s how fast you have to be to be able to understand and respond. It’s almost like there’s this human nerve and its being turned into that nerve of change and opportunity and that cycle and its like nothing we’ve ever seen before.”