About
MatchU is a fashion search engine that uses AI technology customized for each user. It offers him the clothes that best suit his taste and needs, from selecting thousands of clothing items in hundreds of stores. The engine precisely characterizes the customer's taste and needs in an intuitive, simple, Tinder-style process. The venture will be launched in the United States and focus on men's fashion.
The Need
From a consumer survey I conducted, and from my experience as an online personal stylist, the four main difficulties in purchasing clothing garments online are:
1
The customer's problem in characterizing his taste and significant difficulty in locating the items that reflect that taste
2
There is an excess of information and supply, which is scattered in many separate stores
3
The platforms for buying and selling clothes are not user friendly
4
The process of locating the exact desired items is time-consuming, as the process used in the market is cumbersome and confusing
Market size
Size of the purchase of apparel items online in 2020: $ 445.3 billion. The market expected to grow by at least 50% in the coming years due to processes accelerated during the Covid 19 crisis
Product
This is a mobile platform that is customized for each user and offers him the clothes that best suit his taste and needs, from a selection of tens of thousands of clothing items in hundreds of stores.
The platform performs precise characterization of the customer's taste and needs in an intuitive, simple, Tinder-style process.
The customer slides his finger right (likes) and left (dislikes) onto the screen's generic visual items
The app will create an accurate profile of the customer's taste and needs
The system will create a lookbook: a set of fashion items matching and personalized for the shopper's style, personality, and needs.
Business Model
The business model of the venture consists of 2 types of revenue models.
Affiliate Marketing
Affiliate is a program that exists today in most fashion stores. Those are marketing programs in which stores allow their items to be promoted by affiliates. Fashion companies pay the partners a percentage of each sale made to the customers referred to them.
The average purchase price of online clothing details in a single order in the US is $ 72.
Assuming four purchases per year (each season), the revenue per customer will be approximately $ 14.5 per customer, considering the lowest commission rate - 5%.
Subscription
The customer is allowed 30 days of free use of the system, after which the system will show him items but will not allow him to buy them without paying a monthly subscription fee of $
In this tier, the revenue per customer will be $ 24 per year per customer.
Data Licensing
Enterprise clients can use the collected data for their analysis by buying the data from MatchU
Profit per customer
In total, the revenue per customer per year is expected to be about $ 38
Go-to-Market Strategy
Sponsored and segmented promotion on social media
Advertising on Instagram sports teams pages
Advertising on dating apps and sites
Advertising on porn sites
Founder
Karen Dalumi
Prosperity in the business world requires an ultra-passionate mindset, determination, profit-driven focus, and exceptionally honed interpersonal skills. As a professional with a rich background in leading results-driving strategies and generating revenues, I’ve demonstrated proven accomplishments through sheer resourcefulness, identifying and leveraging growth opportunities, employing creativity, and providing true leadership.