Kate Hudson is growing strong when it comes to building her Fabletics brand. She is getting people excited about the VIP membership, and she is opening more stores in order to get sales consultants to promote this VIP membership even more. This is going to be one of the best ways that she can compete with Amazon, and she shared with CNBC how this plays a part in her marketing strategy.
She knows that there are an abundant amount of marketing opportunities out there, but she realizes that in order to identify these one must know who they are actually marketing to. What Kate has done is extend her sizes from extra small two plus sizes for 2x and 3x customers. This is a great way to build a brand and also extend the customer base quickly.
Another thing that Kate Hudson has realized over the years is that it takes someone to look at the sales numbers in a way that can tell you what garments are actually selling. Kate has stated that she looks at the numbers for sales every week and she is noticing what items from Fabletics are not moving off the shelves. She considers the benefits of checking the clothes that aren’t selling so she can revamp her marketing strategy. She believes that customers are going to gravitate towards things that are new and innovative so she makes a habit to bring in new collections every month. She is building a bass line of clothing, and she knows that she can always revamp and update her collection for the clothes that are not selling very well.
Hudson definitely has a lot of different things that play a part in her marketing strategy. One thing that she has done over the years is determine prices based on how well the inventory is actually selling. When there is a certain demand for products she knows that it may be possible to sell these items at full price. If there is not a lot of demand for certain things, however, she is well aware that she can sell these at discount prices in order to lure new members to Fabletics.
Kate Hudson also gains a lot of inspiration from what the competition is doing. She knows that Amazon is one of her biggest competitors, and she makes every effort to also check out what the competition is selling.