Website Closers® presents an eCommerce retailer that is absolutely out of this world! Specializing in apparel, home décor and jewelry with a spacey, euphoric aesthetic, this business has been putting up stellar numbers even in its infancy. Boasting over 35,000 Instagram followers and over 200 SKUs, this offering comes complete with a sleek, branded website and an unparalleled first-year revenue. With a loyal customer base, an impressive social media presence, and promising potential for scalability, the sky is the limit for this target.
Leveraging a cult-like social media following, the majority of this company’s traffic and sales conversions come from Instagram followers interested in the retailer’s wide variety of products. Their website sees an estimated 400,000 monthly visitors, with nearly 90% of those coming from their social media subscribers.
Their collections include tapestries, jewelry, Sherpa blankets, shirts, and bedroom sets with an other-worldly new-age appeal. In fact, nearly 95% of sales result from interest in the brand’s unique tapestry and jewelry selections. In the business’ first year they’ve been wildly successful and have seen between 200 and 500 sales each day. Over the last 12 months, with an average order value of $30.49, the company has seen more than $1.3 million in revenue with discretionary earnings reaching $157,257 while maintaining nearly $40,000 in available inventory.
Employing a hybrid model, this target utilizes both 3rd party fulfillment (3PL) and drop shipping to handle the astronomical number of daily orders. To support streamlined operations, the business operates with the help of one administrator, three customer service specialists and one customer service manager that all work remotely.
In addition, the current ownership dedicates an estimated 10-15 hours each week to overseeing the business but during sales, ownership has dedicated up to 25 hours in a week’s time. The majority of their responsibilities include managing ad campaigns, creating content for their robust social media following, ordering inventory, and overseeing employee management. By nurturing solid supplier relationships, ownership has strategically developed flexible agreements that allow for advantageous pricing and swift volume scaling.
Abundant growth opportunities are available within this vertical and this business has not yet recognized its full potential. Demonstrated by their large Instagram audience, leveraging untapped audiences on new platforms such as TikTok, Tumblr, and Pinterest could be immensely beneficial for this rising retailer. Additionally, a marketing strategy emphasizing PPC campaigns and search engine optimization could prove valuable. Increased profits could also come from the expansion into the extended selling platforms, such as Amazon and Etsy, as they are eCommerce staples with established, wide-reaching audiences.
New revenue could also be driven by adding new product offerings such as leisurewear, bags, hoodies, and sweatpants, especially as these would be extremely attractive to the company’s target demographic. Furthermore, establishing influencer partnerships and event sponsorships, such as for a music festival or media convention, could help increase brand awareness and grow the brand’s engaged audience.
