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Bits & Bytes | Spring App, Lucky and BeachMint, Chinese E-Commerce

Bits & Bytes is a weekly roundup of the most important news in the fast evolving fashion-tech space.
Spring fashion app | Source: Spring
By
  • Lisa Wang

"Big Fashion Names Fund Shopping App" (The Financial Times)
"Spring is a direct-sales marketplace targeting young, twenty-something female professionals that combines the visual aesthetic of photo-sharing app Instagram with the compulsive swipe function of dating app Tinder and the 'favouriting' and 'following' components of Twitter."

"Lucky Magazine Gets an E-Partner to Shop With" (The New York Times)
"On Monday, Adweek reported that the magazine would not be joining Vogue and her sistren at their forthcoming quarters in the World Trade Center, but entering into a bicoastal arranged marriage with BeachMint, a so-called social commerce company based in Santa Monica, Calif."

"Western Brands Strive to Click with Chinese Shoppers" (The Financial Times)
"While the online fashion market in China may have huge potential, it is also fiercely competitive and price-sensitive, mainland retail analysts say. There is no cheap and easy way to break into the market, they add, even for brands that are household names in their home countries."

"Luxury Consignment Reseller Snobswap Grabs $700K to Bring Brick-and-Mortar Shops Online" (TechCrunch)
"The site is working with around 100 consignment boutiques currently (in varies stages of onboarding), who come from all over the U.S., including not only D.C., but New York, Miami, San Francisco, Las Vegas, and even Canada. It has also scored a couple of deals with larger secondhand clothing chains, including Second Time Around, for example, which has half a dozen stores signed up."

"The 'Bloomberg Terminal For Fashion' Tells Retailers Exactly What Consumers Want in Real-Time" (Quartz)
"In recent years, retailers have increasingly embraced big data, instead of simply relying on the intuitive sense of fashion designers and buyers. Stores that have leftover inventory or are out-of-stock on bestselling items, now look to real-time data and analytics to ensure that supply and demand are aligned."

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BoF Professional Summit - New Frontiers: AI, Digital Culture and Virtual Worlds - March 22, 2024