The rating includes a variety of companies that have one thing in common - the ability to offer the market new approaches and innovations.
The coronavirus pandemic has had a huge impact on a variety of areas of human activity. Including the retail trade, where today the brands that manage to establish trusting relationships with customers or offer the market new original solutions are breaking ahead. These are the companies that were taken into account in the ranking of the most innovative retailers of 2021, presented by the popular American business magazine. Fast Companyspecializing in technology, business and design.
It’s no surprise that amid the coronavirus pandemic, as retailers flocked en masse to the internet, the popularity of services provided by the Shopify platform, which allows you to quickly enter the field of e-commerce, has skyrocketed. In the fourth quarter of 2020, the gross value of products featured in stores built with Shopify was $41.1 billion, up 99% from a year earlier. At the same time, the company's revenue in 2020 increased by 86% to $2.93 billion.
The legendary manufacturer of sportswear and shoes traditionally falls into many ratings. The company has always been distinguished by its flexibility, which has allowed it to survive the current difficult times relatively painlessly. In 2016 Nike began to break off relations with old partners and take sales into their own hands, seeking to interact directly with customers, while increasing their profits by reducing the intermediary margin. And it was the right move - sales through their own stores and website grew by double digits annually. In 2020, Nike's digital sales growth increased by 83%. At the same time, the company is actively developing services that allow it to establish closer ties with consumers. These are free lessons on YouTube, the Training Club app, etc.
A company that created a system of individual orders for tailoring, allowing manufacturers to significantly reduce the costs inevitable in the fashion business. She owns a tailoring factory located in the Dominican Republic with a wide selection of fabrics. As soon as the client of one of the partners places an order for the model of clothing he likes, the information is automatically sent to Resonance, which is engaged in its execution. This model is very attractive for small companies that create unique products and want to work directly with their customers. At the same time, they do not have to worry about the surpluses that are inevitable when there are finished products in stock.
Depop provides a mobile marketplace that allows people to buy and sell their products. Its interface most of all resembles a social network, where visitors can interact not only with sellers, but also with other buyers. This allows you to establish closer ties between merchants and their customers, making it easier to find the right products and promote them. Depop has become especially popular among representatives of Generation Z. And the coronavirus pandemic, when people are actively saving by buying used goods, has allowed the platform to show rapid growth. Today, more than 25 million of a wide variety of products are already available on it.
5. The Citizenry
Artisans from all over the world sometimes create unique things, but do not have the opportunity to present their product to the general public. And this was made possible thanks to the efforts of The Citizenry. During the pandemic, the company offered health and safety resources to its partners in 22 countries so they can continue to work in a safe environment. Payments have also been increased so that artisans can buy the necessary materials with tools while continuing to work from home. Despite disruptions to the supply chain, sales during the pandemic increased by 50% compared to 2019, with 40% purchases made by repeat customers.
6. Ulta Beauty
When the coronavirus pandemic made it impossible to visit beauty salons, the American network Ulta Beauty launched a virtual studio GLAMlab, completing in three months what would normally take three years. Users of the app can easily evaluate how the products offered by Ulta Beauty will suit them. Several thousand different items were covered, and this figure continues to increase. In other words, the company gave users what they most urgently needed.
Startup Italic creates luxury items that are sold without the significant markup typical for this type of product. At the same time, the company earns not on sales of individual products, but on annual membership fees. This approach has proven to be true at a time when most buyers are looking to cut their costs. It has also proved to be a boon for fashion factories, whose orders have plummeted in recent months. The range offered by Italic already includes more than 800 items and continues to expand constantly.
This company has created a marketplace that features a variety of care products, from crutches and wheelchairs to personal care items. At the same time, in this case, we are talking not only about the place where you can make a purchase, but also to get additional information about the purchased product, how to use it correctly and for whom it suits. Carewell is also actively creating all kinds of educational materials that show how to care for sick people.
In 2020, luxury resale site Rebag had its best year since it launched in 2014. The range of goods offered was also expanded, which went beyond bags and increased with watches and other accessories. The company entered an already congested resale market, but managed to quickly differentiate itself thanks to a new approach - goods are purchased directly from their former owners. Also, all Rebag customers can subsequently put up for sale the purchased item themselves, receiving up to 70% commission for it. The company also created the Clair index, which allows everyone to quickly assess the market value of their bag.
10 Canada Goose
A world leader in warm clothing, Canada Goose has perfected the art of immersive retailing. Now her stores are equipped with special cold rooms in the form of small glass boxes, where customers can test coats in an environment close to the real one. The temperature in such a room drops to -32 degrees Celsius, sometimes there are gusts of wind and snow. This is the best way to understand how warm a thing suits you when you shop in the summer. In 2020, the brand's revenue increased by 15.4% compared to the previous year, despite several months of store closures due to quarantine.