Posts Tagged "Unicornio"

Unicorn with a contagious smile

Smile direct club store front

Breaking Moulds

The health sector is not inmune to digital transformation and improved customer experience. Smile Direct Club has identified as an opportunity to facilitate a smile with well-aligned dentures without having to go through the brackets, frequent visits to the orthodontist and with a 60% smaller budget.

In just 3 years it has already  more than 300 stores of its own in Usa, and it has recently started (3T 2019) its expansion in Canada, UK and Australia.

It makes the experience more accessible. The customer chooses how and where to start it: at home or in one of its stores

The innovation focuses on making an orthodontic treatment easier and more accessible by means of invisible moulds, made using 3D printers that the customer changes without having to go to the physical consultation of the specialist. Using an initial kit that is received at home or on a visit to its stores, the treatment is initiated and it is monitor by the specialists remotely used an app on the mobile. The duration of treatment has been reduced by half (6-8 months) of the traditional and cost by 60% less.

doctor-directed-SDc-Rempte-controlled

Sales growth and astronomical losses

Belonging to the “unicorns” league (start-up with a valuation of over USD 1 billion) listed since this September 2019 on the Nasdaq. As appropriate, it has been doubling annually its income and losses over the past 3 years. Customer experience at the stroke of a talonary.

Sales-SMD-compressor

losses-sdc-compressor

 

Specialists in Strategy and Retail Operations

MHE >>

 

Initial challenges. Their main supplier and corporativism of specialists

Not everything has been pink in their way. After a frustrated initial collaboration with its Invisalign supplier, it has currently  the largest existing global plant of moulds made using HP 3D printers (produces 20 million moulds per year).

The main challenge it faces now is the corporate struggle undertaken by the collectives of orthodontic professionals who are trying to stop their expansion.

Lab-ed

Extreme Omnichannel

Its website, with more than 5 million visits, feeds its store network  in shopping centers and urban centers. It also has a fleet of travelling buses to bring the experience to new places before the opening of new shops.The channel with the highest growth is the progressive opening of up to 1,500 “implants”  corners with reduced dimensions within CVS pharmacies/drugstores in the USA.

The management team has already extensive experience in this type of situation. They have previously developed similar businesses in:

  • Contact Lenses (1-800 contacts)
  • Diabetes Care (Simplex Health)
  • Hearing Aids (Hearing Planet)

standard-bus

Retail Implications

In all these cases they have applied the same recipe:

  • Simplification of product/service range with the implementation of technological innovation
  • Competitive priced
  • Elimination of friction points in the customer experience
  • Greater self-control by the customerl of the process Omnichannel
  • Selective use of a physical network of stores, own and third parties

With an initial overvaluation (like good Unicorn it is) and downward stock exchange quotation , Smile Direct Club is an example of the current transformation taking place in Retail.

There are no exceptions. Which subsector will be next one?

More info: carlos.dominguez@mheconsumer.com

www.mheconsumer.com

 

Glossier. The new paradigm of cosmetics: From a Blog to the Store

Glossier, the millennial cosmetics brand created in 2014, and which since last March has become a new technological “Unicorn” (a term granted to companies with a valuation of more than one billion euros), has more than 200 employees and with activities in US,  Canada, UK, Ireland, France, Denmark and Sweden.

In 2018, the company’s revenue doubled from the previous year, surpassing $100 million. It has just achieved, in its last round of funding, 100 million from the Private Equity Firm Sequoia Capital.

Glossier_Personal_Apoyo_Venta

Its origin is a blog called  Into the Gloss, whose first articles date back to 2010. The founder and CEO, Emily Weiss, model in her youth and closely linked to the world of fashion, interviewed famous people about her beauty habits. From day one, Lancome was their sponsor. Its beginnings were purely online, and it currently has 3 stores, in New York, Los Angeles and Seattle.

Weiss’s main argument was that beauty companies were not meeting the current needs of women. In 2013, with tens of millions of followers behind her back, Weiss began sketching out what Glossier’s success would be: democratising cosmetics – making women feel good rather than unsure about their appearance (“Real-life beauty products”). First, she found a gap in the market to meet a need. Then she started with a simple product line at really attractive prices, with a basic color gamut, and eliminated unnecessary product in the range. Relying on social media, especially on Instagram, she preached the brand’s goodness and created a legion of loyal followers. Making the shopping experience enjoyable and very easy to share (thanks to its original packaging ).

Afterwards, the path that other e-players previously showed us: pop-ups to generate branding and allow customers to come into contact with their products; make online shopping easier and frictionless; and create a brand around its founder (and not another soulless brand). Recently, Glossier just launched a new brand, Glossier Play, much more extravagant and full of brilliance and color. Until this launch, its assortment consisted of just 40 SKUs, focused on skin care.

Glossier is one of the disruptive brands that is transforming the cosmetics sector, along with Fenty Beauty, the cosmetics brand, and now also fashion, of the singer Rihanna, making traditional retailers rethink their strategies. Department stores and pharmacies have been dedicated to modernizing their beauty departments with a focus on services, technology and agreements with emerging new brands, in an attempt to fight the growing wave of beauty brands that, supported by the “effect influencer”, offer much more interesting experiences for today’s customer.

Mhe works for major chains and brands improving retail strategy and operations

Improved customer experience

Its flagship is located in the SoHo area, NYC. The showcase is nothing more than a translucent vinyl that does not allow you to see the interior. Surprisingly, as soon as you access the store, you will find a kiosk where customers can pick up their orders made through their website.

After going up the stairs (the store is located on the second floor), we come across a fully automated order preparation area, where a crowd of customers are waiting for the products they have just selected in the store, with the help of sales staff. Sales assistants are dressed in pink uniforms similar to the scientist uniforms in a lab, and “equipped” with iPads prepared to serve another client. Service and close contact with the customer is another fundamental aspect of their success. Vendors encourage you to interact with the product and provide you with beauty tips.

The store has areas to test its products and is full of mirrors in which to check the color that we want to take home.glossier. nyc flagship-min

 

At all times, it gives you the feeling that everything pretends to be an Instagram post. You can’t find any limitations when it comes to taking photos inside the store. What’s more, once inside you seem to find yourself in one of the tourist attractions of the city due to the amount of people taking photos and selfies with the decorative elements of the store.

Glossier_Sales_Assistant_Uniform

Glossier_Instagramable_Furniture

 

 

 

 

 

 

 

Cosmetics have become the pioneer and  leading Retail segment, showing the way to other sectors such as Fashion

The new paradigm of cosmetics: From a blog to the store

 

www.mheconsumer.com

 

Copyright ©2019 | MHE Consumer

Send this to friend